To: kolo55 who wrote (14938 ) 9/29/1999 10:09:00 AM From: Ray Respond to of 27311
Paul, this should help clear things up. Posted September 28, 1999 19:02 MST For Immediate Release Contact: Mr. Deward F. Manzer, President Moltech Corporation Acquires Energizer Power Systems Tucson, Arizona?September 28, 1999?Moltech Corporation, a leading developer of next generation battery technologies, has acquired Energizer Power Systems division of Eveready Battery Company, a subsidiary of Ralston Purina Company. Moltech is a world-class, materials technology company, which has focused its development efforts on the next generation of rechargeable batteries. Its Lithium-Sulfur technology is expected to leapfrog lithium-ion and lithium-ion polymer as the leading rechargeable battery technology for many electronic devices. Based in Tucson, Arizona, Moltech has established a worldwide network of research collaborators. Its acquisition of Energizer Power Systems (EPS) creates a major new battery company with several technologies, design, manufacturing and marketing expertise, pack manufacturing capability, as well as high caliber research and development for energy storage devices. When the acquisition has been completed, the Energizer Power Systems group will be known as Moltech Power Systems. It has been, and will continue to be, a leader in high-rate Nickel-Metal Hydride battery technology. EPS is based in Gainesville, Florida, and offers rechargeable power solutions to OEMs worldwide through design, engineering and assembly operations in North America, Europe and Asia-Pacific. Current and prospective customers of EPS will continue to receive the same excellent products and services they have come to expect. Moltech Corporation?s Founder and Chief Executive Officer, Dr. Terje Skotheim, explained the strengths of the new Moltech, ?By combining Energizer?s existing technologies and strong manufacturing and distribution capabilities with Moltech?s new leapfrog technology, we will have a major new battery company with all the elements needed for success on a worldwide basis.? The acquisition is expected to be completed by the end of October. Eveready Battery Company will retain a small minority interest in the new combined business, and will continue to operate its primary battery company.