MILTON, Ga., May 26, 2009 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE) (www.exide.com), a global leader in stored electrical energy solutions, announced today the expanded role of Gary Reinert, Vice President, Strategic Planning and Business Development. Mr. Reinert also will hold the title of Vice President and General Manager of a newly-formed division at Exide Technologies dedicated to the development and pursuit of new markets for renewable energy and lithium-ion battery applications.
In his broadened capacity as head of this new division, Mr. Reinert will continue reporting to Exide President and Chief Executive Officer, Gordon Ulsh.
In addition to his implementation of Strategic Planning activities for Exide -- including evaluating product expansion and identifying potential merger and acquisition opportunities -- Mr. Reinert will drive all initiatives related to the new division, including the development and management of the division's structure and its resources. The creation of a formal name and identity for the organization also are chief among his responsibilities.
In addition, the resources of the recently acquired Mountain Power organization will report to Mr. Reinert. These resources add the specialization in the design and commercialization of high performance, large capacity rechargeable lithium-ion batteries for the telecommunications, utility, industrial, medical and military markets to Exide's technology portfolio.
More specifically, Mr. Reinert's global activities will focus chiefly on identifying new opportunities for the Company in the following areas:
* large-scale storage for grid connected renewable energy;
* off-grid renewable power generation and storage (applications
requiring energy where the electricity grid does not exist or
is frequently unreliable);
* new industrial storage applications that require the high energy
density and/or cyclability; such applications would allow the
Company to further leverage the resources of Mountain Power and
the Exide(r) Onyx Lithium Ion product line.
The new division will integrate closely with the global commercial teams in Industrial Energy North America, Europe and Rest of World. As head of the organization, Mr. Reinert will assess the need for transfer of existing resources and incorporation of additional resources to meet the needs of the division as it works to expand renewable and lithium technologies in growing markets.
"The new Exide division is designed to capitalize upon our existing R&D resources for product development and tap into established sales channels, enabling our Company to more rapidly and cost-effectively develop advanced renewable energy technologies for new markets," said Gordon Ulsh, President and Chief Executive Officer of Exide Technologies.
