Ultralife Batteries, Inc. Receives Second Contract To Supply U.S. Army Land Warrior Batteries
biz.yahoo.com
Monday April 17, 9:45 am Eastern Time
Company Press Release
SOURCE: Ultralife Batteries, Inc.
NEWARK, N.Y., April 17 /PRNewswire/ -- Ultralife Batteries, Inc. (Nasdaq: ULBI - news) today announced that it has received its second contract, valued at over $200,000, to provide its primary (disposable) lithium-manganese dioxide ``pouch' batteries for the next round of evaluation in the U.S. Army Land Warrior program. Deliveries will begin in April and continue through August this year. The Land Warrior is a revolutionary new wearable communications, mapping and weapons system that gives ground soldiers a digital view of the battlefield on a helmet video display that can transmit voice, images, maps and orders. The system has been described as a soldier's ``sixth sense.' Starting in 2003, the Army expects to procure approximately 34,000 Land Warrior systems at a total program acquisition cost of $2.1 billion. Both primary and rechargeable batteries will be required for the program, which could be supplied in part by Ultralife should the Army decide to proceed to the production stage using pouch batteries, and if the batteries meet the program's performance and cost targets.
James Sullivan, Ultralife Vice President of Sales, stated, ``The Land Warrior program presents us with an exciting opportunity to apply Ultralife's leading-edge battery technology expertise to state-of-the-art equipment for the soldier of the future.' In a recent article in Military Information Technology Online, Colonel Hank Kinnison, Training and Doctrine Command systems manager at Fort Benning, Georgia said, ``We are in the final design work to provide a Land Warrior system that we will give to the 82nd [Airborne Division at Fort Bragg, NC] in June of this year. It's our intention to outfit a platoon plus some other soldiers. The exercise will culminate in participation by that platoon as part of its parent battalion (3rd Battalion, 325th infantry) in [the] Joint Contingency Forces AWE (Army Warfighting Experiment) in September at Fort Polk, LA, at the Joint Readiness Training Center.'Ultralife Batteries, Inc., an ISO-9001 quality certified company, manufactures and markets a comprehensive line of high-performance lithium batteries. The company's primary (disposable) lithium batteries are used in a wide variety of consumer, industrial, and military products. The company's advanced polymer rechargeable batteries are being commercialized for notebook computers, cellular telephones, and many other portable electronic products. Key customers include Fyrnetics, First Alert, Maple Chase, Sears, Radio Shack, Eveready and the national defense agencies of the United States and the United Kingdom.
This document contains certain forward-looking statements and information that are based on the beliefs of management as well as assumptions made by and information currently available to management. The statements contained in this document relating to matters that are not historical facts are forward-looking statements that involve risks and uncertainties, including, but not limited to, future demand for the Company's products and services, the successful commercialization of the Company's advanced rechargeable batteries, general economic conditions, government and environmental regulation, competition and customer strategies, technological innovations in the primary and rechargeable battery industries, changes in the Company's business strategy or development plans, capital deployment, business disruptions, raw materials supplies, and other risks and uncertainties, certain of which are beyond the Company's control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those described herein as anticipated, believed, estimated or expected. A more detailed description of such uncertainties is contained in the Company filings with the Securities and Exchange Commission, such as the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 1999.
Detailed information on Ultralife is available at the Company's web site, ultralifebatteries.com.
SOURCE: Ultralife Batteries, Inc.
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This is not a repeat of last Thursdays story. This is
another contract involving a different product. This is a repeat order for one of Ultralife's new products, the pouch cell. |
