BTI's Korean licensee expands production facility; Young Poong purchases 'AAA' line for US $6.7 million.TORONTO--(BUSINESS WIRE)--Jan. 10, 1995-- Battery Technologies Inc. - developers of the Reusable re·use tr.v. re·used, re·us·ing, re·us·es To use again, especially after salvaging or special treatment or processing. re·us Alkaline alkaline /al·ka·line/ (al´kah-lin) (-lin) 1. having the reactions of an alkali. 2. having a pH greater than 7.0. al·ka·line adj. 1. Manganese manganese (măng`gənēs, măn`–) [Lat.,=magnet], metallic chemical element; symbol Mn; at. no. 25; at. wt. 54.938; m.p. about 1,244°C;; b.p. about 1,962°C;; sp. gr. 7.2 to 7. (RAM (TM)) battery system - announced today that it has received a purchase order for a 'AAA' manufacturing line for the production of RAM(TM) batteries from Korean licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. , Young Poong Corporation. This purchase, totaling over US $6.7 million, is in addition to the 'AA' line purchased in September 1994 for US $7.5 million and gives Young Poong total capacity of up to 100 million cells per year. The 'AA' and 'AAA' cell sizes account for over 95% of the Korean market. The plant is to be built near Seoul, Korea and is scheduled to be completed and in full 'AA' cell production late in 1995, with the 'AAA' line coming on stream in the first quarter of 1996. "We are extremely pleased with the commitment shown and the qualified team assembled by Young Poong to manage this project in just a few months", commented Mr. Wayne Hartford of BTI BTI Beverage Testing Institute BTI Boyce Thompson Institute BTI British American Tobacco (stock symbol) BTI Boston Theological Institute Bti Bacillus Thuringiensis Israelensis BTI BioTechnology Institute BTI Binding Tariff Information . "Young Poong has spent over US $250,000 in market research and with this thorough analysis and their expertise, we are expecting that they will be very successful". In advance of the completion of their manufacturing facility, Young Poong will begin to market the RAM(TM) product in Korea with 'AA' cells purchased from other BTI Group licensees currently in production. Young Poong Corporation, established in 1949, is engaged internationally in mining, chemical manufacturing, trading, real estate and in retail industries with total annual sales in excess of US $875 million. The BTI Group of Companies is an energy technologies research, development and licensing group that has developed the proprietary RAM(TM) battery system. To date, license agreements have been signed by companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , China, Canada, Hungary, India, Korea and South East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. for the production and sale of the RAM(TM) battery system. The new low cost RAM (TM) battery system combines the performance characteristics of the single use alkaline and ready to battery with the economical and environmental benefits of rechargeability. RAM(TM) cells are fully charged use at the time of purchase. The batteries are capable of powering consumer devices that have traditionally utilized single use cells, such as toys, portable cassette and CD players, radios, games, photoflash units, calculators, lights, etc. US licensee, Rayovac, launched its line of RAM(TM) products under the brand name 'RENEWAL' in 1993 and, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. independent A.C. Nielsen reports, this product has already become the number one selling rechargeable re·charge tr.v. re·charged, re·charg·ing, re·charg·es To charge again, especially to reenergize a storage battery. re product in the United States. Canadian licensee, Pure Energy Battery Corporation, commenced delivery of its 'PURE ENERGY' line of 'AA' batteries and chargers in the fall of 1994 and the initial introduction to the Canadian market has met with great acceptance. RAM(TM) is the registered trademark of Battery Technologies Inc. in Canada. CONTACT: Kathryn Freer, 905/881-5100 or Victor Webb, 212/684-6601 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion