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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Rich Wolf who wrote (12298)	6/23/1999 10:48:00 AM
From: jean1057	Read Replies (2) of 27311

At least they seem to be on time according to the following article dated 4th of May: ACTUALLY 1 year late...but better late than never eh!!!!!!! Hanil Valence to produce lithium polymer batteries for the first time in Korea THE KOREA ECONOMIC WEEKLY, May 4, 1998 Hanil Valence announced its plans to begin manufacturing rechargeable batteries based upon lithium polymer technology in July of this year. Hanil Valence, a joint venture formed between Hanil Cement and Valence Co., based in Henderson, Nevada, will become the first Korean company to ship lithium polymer batteries in volumes, which are used in a variety of portable consumer products ranging from cellular phones and camcorders to hand-held PCs. Hanil Valence was launched last July. Currently, Japanese companies account for about 80 percent of rechargeable battery shipments worldwide. Lee Choong-ho, president of Hanil Valence, said that its production of rechargeable batteries will save more than $100 million for the domestic industry in foreign exchange by replacing the yearly imports from Japan.

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