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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Chisy who wrote (18662)	3/10/2000 6:15:00 PM
From: Robert Cohen	Read Replies (3) \| Respond to of 27311

I hope we can look forward to an announcement like this! Industry News Posted: Dec. 13, 1999 LG Chemical signs Li-ion battery contract worth $150M, expands Li-polymer business South Korea's LG Chemical Ltd has signed up a $150 million contract to supply Taiwan battery pack maker Gallup Wire with Li-ion batteries. The export pact is the first of its kind in South Korea and marks a new milestone in the country's effort to compete with Japan in the Li-ion market. Starting next year, the batteries will be shipped to Gallup Wire for packing and shall eventually be shipped to notebook computer makers such as Compaq. The three-year contract involves the export of 18-by-65mm, 1.85A batteries that are claimed to last an hour longer than Japan-made brands. LG Chemical has been mass producing the tubular Li-ion batteries since last March. Last October, the company completed a factory with a monthly capacity of 1 million cells each of tubular and prismatic Li-ion batteries. LG plans to expand capacity for prismatic versions to 10 million cells by 2003. Meanwhile, the company completed a pilot line of Li-polymer batteries in August this year with a monthly capacity of 100,000 cells. LG will be increasing monthly capacity to 1 million next year. The company has set aside $178 million for the construction of a factory for this purpose. Plans are underway to expand both Li-ion and Li-polymer battery businesses to achieve yearly sales of $450 billion by 2005. LG Chemical Ltd Fax: 82-2-37737005 Tel: 82-2-37730837 e-mail : jhpark@lgchem.co.kr URL : www.lgchem.co.kr