Advanced Battery Technologies, Inc. Opens New Factory in China
12 Abril 2005 - 10:02AM
PR Newswire (US)
Advanced Battery Technologies, Inc. Opens New Factory in China
Chinese Pioneer in Electric Vehicle Industry to resume production
in its newly built factory with two new production lines NEW YORK,
April 12 /PRNewswire-FirstCall/ -- Advanced Battery Technologies,
Inc. (OTC:ABAT) (BULLETIN BOARD: ABAT) , a Chinese developer and
manufacturer of rechargeable Polymer-Lithium-Ion (PLI) batteries,
announced today that its subsidiary, Zhongqiang Power Tech (ZQPT),
is resuming production in its newly built factory in Heilongjiang,
China with three production lines, two of which are newly built.
The new factory has a daily PLI battery production capacity of
50,000 AH per 8-hour shift, ten times the capacity of the
pre-existing plant. The old facility is being converted into an
R&D laboratory. "We're pleased to see these production lines
come online in time to meet an increasing demand for our products
from both China and abroad," commented Mr. Zhiguo Fu, Chairman of
ABAT. About Advanced Battery Technologies, Inc. ABAT develops,
manufactures and distributes rechargeable Polymer Lithium- Ion
(PLI) batteries. The Company's products include rechargeable PLI
batteries for electric automobiles, motorcycles, mine-use lamps,
notebook computers, walkie-talkies and other personal electronic
devices. ABAT's batteries combine high-energy chemistry with
state-of-the-art polymer technology, and overcome many of the
shortcomings associated with other types of rechargeable batteries.
ABAT has accumulated a roster of pending patents for its battery
technology and is developing unique energy related products. The
Company operates in the highest growth sector of the battery
industry, with PLI batteries projected to account for one fourth of
the market for IT and communications devices by 2005. For more
information about Advanced Battery Technologies, Inc. (ABAT),
please visit: http://www.zqpt.com/zqenglish/index.htm Safe Harbor
Statement under the Private Securities Litigation Reform Act of
1995 This news release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, may involve risks,
uncertainties and other factors that may cause the company's actual
results and performance in future periods to be materially
different from any future results or performance suggested by the
forward-looking statements in this release. These risks and
uncertainties include, without limitation, the risks that the new
factory does not operate at the projected capacity rate; the risks
that sales are not sufficient to utilize the existing production
capacity; and the risks that the markets for electric vehicles and
other company products in U.S. and world markets will not grow as
expected. In addition, other risks are identified in the company's
most recent Annual Report on Form 10-KSB, as filed with the SEC,
recent and forthcoming Quarterly Reports on Form 10-QSB, recent
Current Reports on Forms 8-K and 8-K/A, and other SEC filings that
discuss some of the important risk factors that may affect our
business, results of operations and financial condition. We
undertake no obligation to revise or update publicly any
forward-looking statements for any reason. DATASOURCE: Advanced
Battery Technologies, Inc. CONTACT: Ming Liu, Director and
Secretary of Advanced Battery Technologies, Inc., +1-718-359-6866,
; or Investor Relations: M. Bradford Randolph of Randolph &
Wang, Inc., +1-212-759-0097, Web site:
http://www.zqpt.com/zqenglish/index.htm
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