C&D's $75 Million Spending Plan For Fiscal 2002 Is Approved
C&D Technologies (Blue Bell, PA) announced that its board of directors approved a capital spending plan for fiscal 2002 of $75 million dollars. This is an increase of 50 percent over the current fiscal year capital budget of roughly $50 million. This budget will include capacity expansions in the company's industrial battery and power electronics divisions. Total incremental sales from these expansions are anticipated to exceed $200 million once all projects are completed. "We are quite pleased that market conditions remain robust and can support this substantial increase in our spending," stated Wade H. Roberts, Jr., president and CEO of C&D Technologies.