EXHIBIT 99.1
C&D TECHNOLOGIES, INC.
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Power Solutions
1400 Union Meeting Road
Blue Bell, PA 19422
Phone: 215-619-2700
Fax: 215-619-7841
Contacts:
Ian Harvie of C&D: 215-619-7835
Joseph Crivelli of Gregory FCA, for C&D: 610-642-8253
For Immediate Release
C&D TECHNOLOGIES COMPLETES SALE OF POWER ELECTRONICS DIVISION TO
MURATA MANUFACTURING CO., LTD.
Blue Bell, PA--August 31, 2007--C&D Technologies (NYSE:CHP) today announced the
completion of the sale of its Power Electronics Division (PED) to Murata
Manufacturing Co., Ltd of Japan (Murata) for $85 million cash, subject to
working capital adjustments. The agreement to sell this business was previously
announced on June 19, 2007.
Murata is one of the world's leading providers of ceramic based components,
sensors and integrated electronic modules, including power supplies. The
Company, headquartered in Kyoto, Japan, has over 30,000 employees worldwide and
over $4 billion in annual sales.
About C&D Technologies C&D Technologies, Inc. provides solutions and services
for the switchgear and control (utility), motive (material handling),
telecommunications, and uninterruptible power supply (UPS) as well as emerging
markets such as solar power. C&D Technologies engineers, manufactures, sells and
services fully integrated reserve power systems for regulating and monitoring
power flow and providing backup power in the event of primary power loss until
the primary source can be restored. C&D Technologies' unique ability to offer
complete systems, designed and produced to high technical standards, sets it
apart from its competition. C&D Technologies is headquartered in Blue Bell, PA.
For more information about C&D Technologies, visit http://www.cdtechno.com
Forward-looking Statements: This press release may contain forward-looking
statements (within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934), which are based on
management's current expectations and are subject to uncertainties and changes
in circumstances. Words and expressions reflecting something other than
historical fact are intended to identify forward-looking statements, but are not
the exclusive means of identifying such statements. 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 the fiscal year ended January 31, 2007, or the quarterly and
current reports filed on Form 10-Q and Form 8-K thereafter), could cause the
company's actual results to differ materially from those expressed in any
forward- looking statements made herein.