Valences' PO news picked up by CMPs' Electronic Buyers News
Valence receives lithium order
November 20, 1999 12:56am
Source: cp
Nov. 19, 1999 (Electronic Buyers News - CMP via
COMTEX) -- Valence Technology Inc., Henderson,
Nev., has received an initial purchase order from
Moltech Power Systems (formerly Energizer Power
Systems) for its lithium-polymer batteries as a result
of a commitment from a major satellite and cellular-
phone customer. The order, which represents
roughly three months of customer requirements, is
for more than $2 million, including engineering-setup
charges. Additional orders from Moltech will be
based on performance and customer demand.
The deal is critical to Valence's efforts to
commercialize its technology, according to the
company.
Valence will produce the batteries at its Mallusk,
Northern Ireland, manufacturing facility and ship
them to Juarez, Mexico, where Moltech will integrate
them into finished battery packs.
Copyright 1999 CMP Media Inc.
steve |
