BlueStar Battery Systems is awarded US Army contract.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 11, 1996-- BLUESTAR BATTERY (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : BHW BHW Beamten Heimstätten Werk (German Building Society) BHW Boiler Hot Water BHW Brick Headwall BHW Blackman-Harris Window Function BHW Binary Halfword ) BlueStar Battery Systems International Corporation is pleased to announce that its wholly-owned subsidiary, BlueStar Battery Systems Corporation ("BlueStar"), has been awarded a major contract from the US Army through the Canadian Commercial Corporation ("CCC CCC A very speculative grade assigned to a debt obligation by a rating agency. Such a rating indicates default or considerable doubt that interest will be paid or principal repaid. Also called Caa. "). BlueStar has been selected as the sole supplier for four (4) of US Army CECOM's primary, cylindrical lithium batteries. Based on US Army estimates, the 5-year contract is expected to represent approximately $40 million in sales and could go as high as $71 million if maximum quantities are ordered. In the first contract year, minimum sales of approximately $6.9 million are guaranteed, with subsequent year's sales dependent on actual customer demand. This award is subject to standard government contract guidelines, including the possibility of protest. The contract is for the supply of four (4) different battery types, representing 100 percent of the US Army's requirements for these batteries. These multi-use batteries range in size from a small, 2x1/3A cell battery used for memory back-up in radio communications, to a 3xD cell battery used in Global Positioning Systems Global Positioning System: see navigation satellite. Global Positioning System (GPS) Precise satellite-based navigation and location system originally developed for U.S. military use. and other portable electronics applications. CCC is a Canadian crown corporation which has a broad legislated mandate to assist in trade development with other nations. CCC as the prime contractor, has guaranteed performance of this contract. In return, BlueStar has provided $500,000 US as a Security Deposit against performance. The Security Deposit will be released progressively back to BlueStar, following internal program risk reviews by Public Works and Government Services Canada Public Works and Government Services Canada, also referred to as Department of Public Works and Government Services, is the department of the government of Canada with responsibility for the government's internal servicing and administration. . Further collateral and security arrangements are to be finalized shortly and will include a Guarantee from BlueStar Battery Systems International Corporation. This award re-establishes BlueStar as a key supplier to the US Army for its lithium battery needs. The US Army is the largest global user of batteries of this type. BlueStar is a North Vancouver-based developer, manufacturer and marketer of advanced lithium batteries for military and commercial markets. Typical applications of BlueStar's products include portable communications equipment, emergency locator transmitters and remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. equipment. Advanced lithium batteries offer a long shelf life (up to ten years) and excellent low temperature operating capability Noun 1. operating capability - the capability of a technological system to perform as intended performance capability capability, capableness - the quality of being capable -- physically or intellectually or legally; "he worked to the limits of his . BlueStar Battery Systems International Corp. trades on the Alberta Stock Exchange under the symbol BHW. CONTACT: BlueStar Battery Systems International Corp. Greg Agar Agar, in the Bible Agar (ā`gər), the same as Hagar. agar, substance obtained from seaweed agar (ä`gär, ā`–, ăg`är) , 800/806-5611 or 604/681-0363 Neil Huff, 604/986-4104 |
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