BMW Chooses Exide as supplier
Exide Technologies (OTC Bulletin Board: EXDTQ) signed a new, two-year agreement with BMW to supply original equipment batteries for the manufacturer’s motorcycle line.
Under the terms of the agreement, Exide is providing BMW with its Exide maintenance-free gel motorcycle batteries for the K and R BMW motorcycle models. As a result, 80% of BMW motorcycles will be equipped with Exide product in 2003. The batteries are produced at Exide’s facility in Castanheira, Portugal, and shipped to the BMW operation in Berlin, Germany — the only BMW location that produces the motorcycles.
According to Exide, BMW engineers chose Exide’s 19 amp-hour maintenance-free, valve-regulated lead-acid (VRLA) motorcycle battery as a result of its unparalleled performance in both concept competitions with competitors and subsequent laboratory and field tests which took place during an eight-month period.
With operations in 89 countries and fiscal 2002 net sales of about $2.4 billion, Exide is one of the world’s largest producers of lead-acid batteries. The company has supplied automotive batteries to BMW for more than 20 years.
