Exhibit 99.1
1400 Union Meeting Road
Blue Bell, PA 19422
Phone: 215-619-2700
Fax: 215-619-7841
Shareholder Contacts:
Stephen E. Markert, Jr. of C&D: 215-619-7835
Joseph Crivelli of Gregory FCA, for C&D: 610-642-8253
C&D TECHNOLOGIES COMPLETES ACQUISITION OF MATSUSHITA
MANUFACTURING FACILITY AND ASSETS
BLUE BELL, PA, September 25, 2003 - C&D Technologies, Inc. (NYSE: CHP), a
leading North American producer and marketer of electrical power storage and
conversion products used in telecommunications and industrial applications,
today announced that it has completed the acquisition of certain assets from
Matsushita Battery Industrial Corporation of America and Matsushita Battery
Industrial de Mexico, S.A. de C.V. Acquired assets include a 240,000 square foot
facility, built in 1998, in Reynosa, Mexico and the equipment in the facility
historically used for the manufacture of large, valve regulated lead acid
batteries for standby power applications.
In addition, C&D has entered into a worldwide technology license agreement with
Matsushita Battery Industrial Co. Ltd. of Japan for selected patents and
know-how relating to the manufacturing technology for the aforementioned
products.
"We are enthused about this acquisition, as it provides C&D with additional
products, technology and market opportunities," said Wade H. Roberts Jr., C&D's
president and chief executive officer. "The purchased product line is known for
its long-life and reliable supply of cost effective backup power, and they have
been worthy competitors in the marketplace. We are extremely pleased to have
these new offerings under the C&D umbrella, and we look forward to welcoming the
current customer base for these products to the C&D Technologies fold as well as
introducing the new products to our existing customers."
C&D Technologies will host a conference call on Wednesday, October 1, 2003 at
9:00 a.m. Eastern Daylight Time to further discuss the acquisition. To
participate, please call 706-679-4521. A simultaneous webcast of the conference
call may be accessed at www.cdtechno.com. An archive of the conference call will
be available approximately two hours after the call ends through Tuesday,
October 14, 2003 at 800-642-1687 (706-645-9291-international), passcode 3033796.
Certain statements in this press release should be considered forward-looking
(since they may describe the company's future plans, goals or expectations) and
are subject to various risks and uncertainties. Factors that appear with the
forward-looking statements, or in the company's Securities and Exchange
Commission filings (including without limitation the company's annual report on
Form 10-K for its fiscal year ended January 31, 2003) could cause the company's
actual results to differ materially from those expressed in any forward-looking
statements.
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