EVLN(Increased Chinese & Korean li-ion battery competition)
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SANYO Electric Co., Ltd. & Japan Storage Battery Co., Ltd.
Announce Fundamental Agreement; SANYO to Obtain Shares in
GS-Melcotec Co., Ltd. a Subsidiary of Japan Storage Battery
Co., Ltd.
TOKYO--(BUSINESS WIRE)--Oct. 3, 2002--SANYO Electric Co.,
Ltd., (SANYO) the world's leading producer of rechargeable
batteries and Japan Storage Co. Ltd. (Japan Storage) have
come to a fundamental agreement in which SANYO will purchase
51% of the outstanding shares of GS-Melcotec Co., Ltd. a
subsidiary of Japan Storage.
Japan Storage in 1993 lead the battery industry in
developing a square-type Lithium ion battery, the main type
of battery used in mobile communication devices such as cell
phones and PHS (Personal Handy System) phones. In 1997 Japan
Storage established the joint venture Company GS-Melcotec
Co., Ltd. with Mitsubishi Electric Co., Ltd. to manufacture
and sell Lithium ion batteries for use in portable devices.
>From that time on GS-Melcotec Co., Ltd. has expanded its
business to the market of thin, high capacity Lithium
batteries for mobile phones. GS-Melcotec is currently one of
the leaders in market share for Lithium ion batteries.
Since beginning mass production of Nickel Cadmium batteries
in 1964, SANYO has been an industry leader in compact
rechargeable batteries starting mass production of Nickel
Metal Hydride batteries in 1990 and Lithium ion battery mass
production in 1994, maintaining top market share for Lithium
ion batteries. Still a relatively new type of rechargeable
battery introduced to the market in the 1990's the Lithium
ion battery is known for its high capacity, lightweight and
compact size. Due to a rapid increase in demand for mobile
phones and personal computers, the main type of devices that
use Lithium ion batteries, in the latter half of the 1990's
saw a drastic increase in demand for Lithium ion batteries.
In order to meet the needs of the increased demand for
Lithium ion batteries, SANYO has increased domestic
production and in 2001 began overseas mass production of
Lithium ion battery cells expanding SANYO's Lithium ion
supply capability.
The Lithium ion battery currently is the compact size
rechargeable battery with the largest market and is the
rechargeable battery expected to see even stronger future
growth as the devices that use Lithium ion batteries
continues to expand. Mobile devices such as cellular phones
etc. are rapidly developing becoming smaller with more
functions requiring the rechargeable batteries that supply
the power for these devices to be thin, high capacity and
highly reliable batteries. In the near future it is also
projected that there will be increased competition in the
field of rechargeable batteries from Chinese and Korean
battery manufacturers.
Under these market conditions SANYO and Japan Storage came
to this fundamental agreement in order to integrate both
companies top-rank technologies to achieve increased speed
in technology development resulting in the ability to
develop the Lithium ion battery required by today's
customers. Japan Storage will acquire 100% of GS-Melcotec
Co. Ltd. shares. SANYO will then purchase 51% of GS-Melcotec
shares with Japan Storage holding the remaining 49%.
By combining SANYO and Japan Storage manufacturing
technology and management know-how will improve performance
and reliability cementing SANYO and Japan Storage's position
as the world's biggest Lithium ion battery manufacturers.
Company Outline
Company Name: GS-Melcotec Co., Ltd.
Location: Kyoto, Japan
Representative: President, Kenzaburo Hayashi
Established: April 24, 1997
Capitalization: 10.1 billion Yen (As of September 30, 2002)
Investment: Japan Storage Battery Co., Ltd. 63.3%,
Mitsubishi Electric Corporation 36.7% (As of
September 30, 2002)
Sales: FY 2001 27.39 billion Yen
Employees: 250 (As of September 30, 2002)
Business Content: Lithium ion battery manufacturing & sales
SANYO Electric Co., Ltd. http://www.sanyo.co.jp/koho/index-e.html
Japan Storage Battery Co., Ltd.
http://www.nippondenchi.co.jp/top-e/e-top.html
GS-Melcotec Co., Ltd. http://www.gsmelcotec.com/
CONTACT:
SANYO Electric Co., Ltd.
Corporate Communications Team
Derek Wentz, 81-3-3837-6206
Akihiko Oiwa, 81-3-3837-6206
[EMAIL PROTECTED]
SOURCE: SANYO Electric Co., Ltd.
10/03/2002 04:00 EASTERN
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. EV List Editor & RE newswires
. (originator of the above EV ascci art)
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