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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Matthew Leo who wrote (91)2/14/1997 2:47:00 PM
From: Matthew Leo   of 27311
 
Concerning production delays...

I thought the following post from AOL Motley Fool seemed reasonable and informed.

from: PiedmontJG

Think there is some confusion regarding production delay slippage, which I believe is closer to 30 days than 90 days. Reasoning: volume production to customers will only occur 60 - 90 days after line is up and running due to (a) 30 day period it takes to test and "burn in" initial product once the line is running, (b) time it takes to deliver initial production lot to potential OEMs for their testing and review, and (c) customer verification of production quality by reviewing and testing 2nd production lot for product uniformity.

What is more important, and positive, is implication by management that the second type of battery, the cobalt battery, is near completion and apparently will meet specifications of the most demanding of industry customers. Also, if the company can in fact produce both the managanese and the cobalt batteries on the same line with minimum line stoppage, it in fact gives the company the flexibility to offer by the end of 1997 a broader product line than originally anticipated.

Finally, understand that analyst visits are still on track for late March (30 day slippage from earlier schedule). I'd certainly rather hold or accumulate than sell, assuming that there is no further substantial slippage in the schedule.
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