EnerSys Makes Significant Investment in Advanced Munitions Batteries Manufacturing Facilities
READING, Pennsylvania, August 21, 2018 -
EnerSys® (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced its recent $6.4 million investment to enhance facility and manufacturing capabilities at two of its battery manufacturing locations in response to continuing growth patterns in its aerospace and defense business segment.
Already equipped with extensive computer modeling and analysis capabilities, EnerSys locations in Horsham, Pennsylvania and Tampa, Florida are both being expanded and upgraded via this recent investment. Improvements include a number of technological and facilities advancements, such as large-format automated production line expansions, additional square footage to humidity-controlled dry rooms, increased electrical testing equipment, as well as expansions in other ancillary equipment including ovens, resistance welders and tooling.
“We are experiencing strong demand for advanced batteries for multiple advanced weapon platforms as well as order growth for tactical vehicles, satellites and missile defense systems,” said David M. Shaffer, President and Chief Executive Officer at EnerSys. “In fact, we were recently selected by Raytheon to receive their Supplier Excellence Program EPIC Award, supporting the evidence that our quality products are being embraced by the defense industry. The investments being made at our Horsham and Tampa facilities are part of our plan to increase our aerospace and defense business and strengthen our global leadership within this market,” Shaffer concluded.
For more information on EnerSys and its full line of products, systems and support, visit www.enersys.com.
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility, transportation industries and by government and defense customers. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.
Caution Concerning Forward-Looking Statements
This press release and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys' earnings estimates, plans, objectives, expectations, intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as "believe," "plan," "seek," "expect," "intend," "estimate," "anticipate," "will," and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, and market share, as well as statements expressing optimism or pessimism about future operating results, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management's current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, satisfying conditions and obligations contained in contracts and changes in circumstances, many of which are beyond EnerSys' control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys' results, including earnings estimates, see EnerSys' filings with the Securities and Exchange Commission, "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," including "Forward-Looking Statements," set forth in EnerSys' Annual Report on Form 10-K for the fiscal year ended March 31, 2018. No undue reliance should be placed on any forward-looking statements.
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