Valence Technology Inc. and Wistron Inc. Sign Memorandum of
Understanding
February 14, 2002 09:30:00 (ET)
AUSTIN, Texas, Feb 14, 2002 (BUSINESS WIRE) -- Valence Technology
Inc. (VLNC, Trade), a leader in the development and commercialization of
Lithium-ion polymer rechargeable batteries, and Wistron Corporation, one of
the largest global ODM/OEM suppliers for the PC industry, today announced
that they have agreed upon a specification for a Saphion(tm) Lithium-ion
technology power solution for a computing device to be manufactured by
Wistron.
The two companies signed a Memorandum of Understanding that establishes the
companies' mutual intent to work together on the new mobile device. This
product will be the first of its kind to include Valence's Saphion Lithium-ion
technology.
"After looking into a wide range of technologies, we decided that Valence's
solution offers the optimal combination of features," stated Dixon Cheng,
executive vice president of Wistron. "Our companies are breaking new ground
by integrating the most advanced energy technology and a highly innovative
handheld device."
Stephan Godevais, president and chief executive officer of Valence Technology
Inc., stated, "With their pioneering approach to this product design, Wistron
continues to demonstrate industry leadership. This quality makes them a perfect
partner for Valence, as both of our companies are aggressively driving progress
in our respective domains."
Valence is a leader in the development and commercialization of Lithium-ion
polymer rechargeable batteries. Valence has more than 790 issued and pending
patents worldwide, including 284 issued in the U.S. The company has facilities in
Austin, Texas, Henderson, Nev., 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.
With a total of 8,400 employees and eight global operation sites, Wistron
achieved US$3B in OEM business revenue last year, ranking the company as
one of the top global ODM/OEM suppliers for the PC industry. Wistron works
closely with other affiliated companies, such as Netxus Corp., NeWeb Corp.,
Softel Inc., AOpen Inc. and AnexTEK Global Inc. Wistron can be found on the
Internet at www.wistron.com.
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.
CONTACT: For Valence Technology Inc.
Investor Contact:
Hill & Knowlton Inc.
Stacy Roughan, 323/966-5784
sroughan@hillandknowlton.com
or
Media Contact:
Blanc & Otus Public Relations
Sue Ellen Schaming, 415/856-5129
sschaming@blancandotus.com
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