C&D Technologies, Inc.

Current affairs┬áThe twentieth century saw great advances in the generation of power. Throughout that period C&D Technologies has been one of AmericaÔÇÖs pioneering electrical businesses, helping to energize industry through innovation. C&D Technologies, steeped in history, has today become a global entity and continues to push the boundaries of new technology from its world headquarters, located in Blue Bell, Pennsylvania.  The company provides solutions and services for the switchgear and control (utility), telecommunications, and uninterruptible power supply (UPS) sectors, as well as emerging markets such as solar power. The company 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. Additionally there is a focus on power system integration and C&D offers products that can monitor and rectify AC-to-DC current to power the switches and other equipment, as well as provide backup battery power. The business can also offer complete systems, designed and produced to high technical standards. This is all a far cry from 1906, when two high school seniors, Frank Carlile and Leon Doughty, envisioned a future powered by electricity. They stunned their teachers when they successfully bid on and won the contract to electrify their own school. After this initial success, the pair launched C&D and began producing batteries for the automotive industry. After World War II, the company expanded into battery systems as the communications industry began to grow. The company continues to focus on the industrial power systems market with state-of-the-art manufacturing, engineering, and research facilities across the country. It has continued to grow through design and manufacturing excellence and developing the finest integrated standby power products. In addition to its Blue Bell headquarters, the company today operates further production and research facilities in Leola, Pennsylvania, Milwaukee, Tennessee and Indiana, with further sites located in China and Mexico. Four of the six factories are currently certified with ISO 9001 and there are plans afoot to qualify the remaining sites. The company also has distribution and sales offices in Canada and the UK. In recent times, the environmental aspects of the manufacture and disposal of batteries have been under the spotlight, representing a great challenge to the companies involved in their design and production. C&D regards itself as an environmentally responsible manufacturer, committed to the protection of the environment and the health and safety of its employees, customers, and communities in which it does business. As part of this commitment, the company aims to design, manufacture and distribute products in a manner that will not result in the creation of unacceptable risks to health, safety or the environment. To that end it has created a ten point program adopted by all C&D facilities worldwide, which all managers are required to vigorously promote to all C&D employees. The recent economic downturn has undoubtedly impacted on C&D and in April 2009 the company announced current quarter results that reflected lower revenues. At the same time it was noted that volumes in the fourth quarter of 2009 were up compared to the year ago quarter, as the company generally held or increased its leading market share position in its primary end markets in North America.ÔÇ£Fourth quarter financial performance is primarily the result of a number of discrete charges and weaker end markets driven by the economic slowdown,ÔÇØ said Dr. Jeffrey A. Graves, president and CEO. ÔÇ£Our estimates of the overall market for stationary power in North America indicate a decline of over 20 percent from the peak levels of 2008, with the fourth quarter alone down over 8 percent versus the third quarter. ÔÇ£Over the course of fiscal 2009,ÔÇØ he continued, ÔÇ£we have reduced our financial exposure to commodity prices, cut costs, significantly improved cash flow, introduced a number of market-leading new products, and made a significant investment in anticipation of a ramp-up in our China operations looking forward. In the fourth quarter, we absorbed the financial impact of some difficult decisions that are certain to further contribute to our significantly improving competitive profile moving forward.ÔÇØ ÔÇô Editorial research by Bobby Meehan