Valence Signs OEM Agreement With Amperex Technology Limited; ATL to Provide Additional Manufacturing Capability.Business Editors & High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--May 29, 2002 Valence Technology, Inc. (Nasdaq:VLNC), a leader in the development and commercialization of Lithium-ion polymer rechargeable batteries, today announced that it entered into an OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and agreement with Hong Kong-based Amperex Technology Limited (ATL (Active Template Library) A set of software routines from Microsoft that provide the basic framework for creating ActiveX and COM objects. Stemming from the standard template library (STL) that comes with C++ compilers, ATL includes an object wizard that sets up ). Under the agreement, ATL will manufacture batteries for Valence. "Our agreement with ATL will reinforce our current manufacturing capacity in preparation for future customer demand," stated Stephan Godevais, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Valence. "We were seeking a partner who possessed both the technological expertise and the manufacturing excellence to complement our own production capabilities. ATL, a valued licensee of Valence, was a natural choice. ATL has the experience, the equipment and the team in place to support our growth, and we look forward to a continuing OEM relationship." Dr. T. H. Chen, president of ATL, stated, "We began working with Valence in December and have been impressed by the technology as well as the management team. We have established a mutually beneficial relationship to date and believe this new agreement is a natural extension. Not only will it provide Valence with incremental manufacturing capacity, but it also will allow us to expand our business even further." About Amperex Technology Ltd. ATL aims to be a premier energy solution provider for mobile devices. ATL has been mass-producing quality Lithium Ion Polymer See lithium polymer. (LIP) battery cells with ATL equipment for years. ATL is currently focusing in designing and manufacturing Lithium-Ion Polymer (LIP) cells and batteries in China for OEM customers of cell phone, PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). , Portable DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. , notebook PC, earphone See earbuds. and smart card applications. ATL can be found on the Internet at www.atlbattery.com. About Valence Technology, Inc. Valence is a leader in the development and commercialization of Lithium-ion polymer rechargeable batteries. Valence has more than 807 issued and pending patents worldwide, including 262 issued in the U.S. The company has facilities in Austin, Texas, Henderson, Nevada and Mallusk, Northern Ireland. Valence is traded on the Nasdaq National Market under the symbol VLNC and can be found on the Internet at www.valence.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. The information contained herein includes "forward-looking statements." The company cautions readers not to put undue reliance on forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those described herein, for the reasons, among others, discussed in our reports filed with the Securities and Exchange Commission. |
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