EFCX...Electric Fuel Begins Automated Production of Cell Phone Batteries; Production to Increase to Approximately 500,000 Per Month By Year End
ISELIN, N.J., June 28 /PRNewswire/ -- Electric Fuel Corporation (Nasdaq: EFCX - news) announced today that it has begun the first automated production of cells for its ZincAir(TM) line of disposable batteries at the Company's Bet Shemesh, Israel facility.
The new, custom-built automated production line will increase production capacity to approximately 500,000 batteries per month by the end of 2000. The Company has been producing battery orders manually.
In announcing the start-up of the new automated equipment, Yehuda Harats, President and Chief Executive Officer of Electric Fuel, said, ``With our new line operational, we expect to see a steady ramping-up of capacity. The implementation of this line has come at an opportune time. We have added new distributors in recent weeks, including Triton PCS and Times Telecom.'' He added, ``We also continue to receive repeat orders from our veteran distributors, including iGo Corp. We believe we now have the capacity to meet all increased orders.''
About Electric Fuel:
Electric Fuel, with corporate and sales offices in New Jersey and manufacturing and R&D facilities in Israel and Alabama, is a world leader in the application of primary and refuelable zinc-air battery technology to innovative energy solutions. The company's popular line of ZincAir disposable batteries for cellular telephones is available through selected outlets in the U.S., Europe, South America and Israel. Electric Fuel also recently announced plans to sell a new universal ZincAir booster powerpack that will let wireless users keep talking or working, even as their rechargeable phone battery runs down.
NOTE: This press release contains forward-looking statements. There are certain important factors that could cause results to differ materially from those anticipated by the statements made above as set forth in Electric Fuel's annual report on Form 10-K for the fiscal year ended December 31, 1999. Among, but not limited to, these factors are the stage of development of the Electric Fuel's products, the uncertainty of the market for disposable cellular telephone batteries and significant future capital requirements.
This release and prior releases are available on the KCSA Public Relations Worldwide website at kcsa.com.
SOURCE: Electric Fuel Corporation |
