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Exide Technologies and Truck Pride Partners LLC Announce New Supply Agreement
MILTON, Ga., Feb 9, 2010 (GlobeNewswire via COMTEX) --
Exide Technologies, (Nasdaq:XIDE) (www.exide.com) a global leader in stored electrical-energy solutions, announces a new supply agreement with Truck Pride Partners LLC. Under the new agreement, Exide has been designated as the preferred vendor for the Truck Pride Partners battery line.
Truck Pride Partners LLC is one of the largest heavy duty parts distribution and marketing organizations in North America. Exide will supply a full aftermarket line, including automotive, heavy duty, marine, golf cart, electric vehicle, lawn and garden and power sport products. The two-year agreement includes Exide(R) branded and Truck Pride private label batteries sold in the U.S. and Canada.
Truck Pride Partners LLC was recently formed from the dissolution of the former program distribution group Independent Warehouse Distributors, LLC. While Exide has had a long-time supplier relationship with the original Truck Pride organization, this new agreement marks the first time that Truck Pride has selected a sole preferred battery line supplier.
"This initiative in the area of product management was a critical strategy, allowing the new Truck Pride Partners to strengthen ongoing vendor relationships," said product committee chairman and member Bruce Greer. "Our goal was to gain supply chain efficiencies on certain product categories, with commercial batteries being a principal focus."
According to Truck Pride, aligning its members with Exide as the preferred battery supplier offered a number of benefits.
"Truck Pride now is laser-focused on bringing increased value to its members," said Jeff Sandt, Director of Product Management for Truck Pride Partners LLC. "Exide, which offered the most robust procurement strategy, sales and marketing support and a vast technology base, was a clear choice."
The new agreement provides incentives for members who previously purchased from other battery vendors plus loyalty incentives for members who continue to purchase from Exide.
"Truck Pride's selection of Exide illustrates our strength in tailoring a sophisticated battery program for each customer, balancing a range of variables including pricing, depth of product offering, marketing and sales support, distribution efficiency and recycling capability," said E.J. O'Leary, President and Chief Operating Officer of Exide Technologies. "These capabilities will help Truck Pride members serve their customers more effectively while streamlining their own procurement processes."
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups -- Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World -- provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
Further information about Exide, including its financial results, are available at www.exide.com.
The Exide Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5067
About Truck Pride Partners LLC
Truck Pride Partners LLC, recently formed from the dissolution of IWD, LLC, is one of the largest heavy duty parts distribution and marketing organizations in North America. Truck Pride Partners LLC, in association with our international network of member distributors, offers quality brand name replacement products as well as professional repair services through our Truck Service Experts network. New programs continue to be developed within our company, all of which are dedicated to keeping Truck Pride Partners LLC as a quality parts and service system dedicated to serving the owner operator and national fleets.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Exide Technologies; Truck Pride Partners LLC
CONTACT: J.Addams & Partners, Inc.
Media Contacts:
Jeannine Addams
jfaddams@jaddams.com
Kristin Wohlleben
kwohlleben@jaddams.com
404/231-1132
Exide Technologies
Investor Contact:
Carol Knies, Senior Director of Investor Relations
678/566-9316
carol.knies@exide.com
Truck Pride Partners
Media Contact:
Melissa Jolls
908/251-5713
Cell: 917-854-3451
meljolls@earthlink.net
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