Exide Technologies Receives Norwegian Navy Battery Supply Agreement

Exide Technologies (Reading, PA) received an agreement from the Royal Norwegian Navy to produce propulsion batteries for its Ula-class submarines. The production agreement, totaling $12.8 million, is expected to begin in 2002 and includes technical training courses, manuals and services in connection with installation and testing of the batteries.

The contract includes technical training courses, manuals and services in connection with installation and testing of six batteries to power six submarines. Each battery consists of 480 cells and weighs more than 140 tons. This battery is the only energy source for this submarine during submerged sailing. The Royal Norwegian Navy negotiated the contract with Exide after performing a competitive evaluation of other global manufacturers.