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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: FMK who wrote (81)	2/8/1997 6:06:00 PM
From: Matthew Leo	of 27311

Hi FMK - If you like the Sony PR this should put a smile on your face too. Mortgaged the ranch huh, I kind of think the new one will be considerably larger with a merc or two in the garage. Just how much of this market does Valence have to capture to get the stock back into the 20's or better. There are only about 20 million shares out. Bye And Gvander - Hype in the market has two edges - IMHO, cover or buy now. Vlnc won't get miuch cheaper. TOKYO, Jan 31 (Reuter) - A unit of Matsushita Electric Industrial Co <6752.T> said on Friday it plans to spend 130 billion yen to boost battery output, with about half that sum allotted for more than tripling lithium-ion battery production. A Matsushita Battery Industrial Co spokesman said output of lithium-ion batteries, increasingly popular in portable computers and cellular phones, will be expanded to 20 million cells a month by April 1999 from the current six million cells. He said the company aims to capture a 30 percent share of the global market, with consolidated sales seen at about 400 billion yen by the fiscal year through April 2001. He added the company sought to catch up with rival producer Sony Corp <6758.T>, which in December announced that it would raise its monthly lithium-ion battery output to 15 million cells in the business year from April 1997, after a boost to 10 million cells per month in the current year. The Matsushita spokesman said the 130 billion yen spending plan would cover a five-year period through March 2001 and may also include an increase in nickel-hydride battery production from the current level of 15 million units per month. -- Tokyo Commodity Desk +81-3-3432-6179 03:00 01-31-97

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