EnerSys Announces $9.8 Million Stock Buy Back

EnerSys ENS the global leader in stored energy solutions for industrial applications, announced today that it has reached agreement to purchase 294,200 shares of its common stock at $33.15 per common share including fees for approximately $9.8 million in the aggregate from institutional shareholders. The transaction is expected to be completed on June 8, 2011. "We believe this stock buy back is a financially sound transaction for both the Company and our shareholders. We have both a strong capital structure and liquidity positions, with $109 million in cash and short term investments as well as over $350 million in available and unused borrowing capacity as of March 31, 2011," stated John D. Craig, chairman, president and chief executive officer. "These purchases are being made in connection with the stock repurchase program announced in our recent Form 10-K to offset the dilutive effect of our incentive stock compensation program."