GP Batteries' Li-Ion Battery Plant in Taiwan Heads for Listing
16 November 2000, Singapore - Mainboard-listed GP Batteries International Limited ("GP Batteries") announces today that its Lithium Ion ("Li-Ion") battery plant in Taiwan, Gold Peak Industries (Taiwan) Limited ("GPIT") has entered into an agreement with Taisec Securities Inc. ("Taisec"), a full-license stock broker in Taiwan, whereby Taisec will provide advisory and listing application services to GPIT for listing on the Taiwan Stock Exchange. GPIT is expected to be able to list in Taiwan in 2002.
Mr Andrew Ng, Chairman & Chief Executive of GP Batteries and Chairman of GPIT said, "GPIT has been engaged in the manufacture of Carbon Zinc batteries in the past years. To meet increasing market demand and to tap Taiwan's rapidly growing IT industry, the Group acquired the rechargeable Li-Ion battery operations and technology from Duracell of the U.S. in 1998. It then relocated the operation to Taiwan and started the production of cylindrical Li-Ion batteries."
Mr Ng added, "Pilot production has been started since May this year and the products are mainly used in notebook computers, camcorders and MP3. Annual output of next year is expected to reach 10 million pieces of cylindrical Li-Ion batteries. GPIT will expand its product range and production capacity in the next few months."
Established in 1968, GPIT has been awarded ISO 9001 and ISO 14001 accreditations in 1992 and 1996 respectively. GPIT's listing plan further demonstrates its over 30 years' solid experience in the battery industry as well as its commitment in providing high quality products.
About GPIT
Gold Peak Industries (Taiwan) Limited ("GPIT") was established in 1968 and is currently a 75.1% owned subsidiary of mainboard-listed GP Batteries International Limited. GPIT is principally engaged in the manufacture of rechargeable Li-Ion batteries. China Development Industrial Bank and Meiloon Industrial Co., Ltd, in Taiwan holds 15.0% and 4.4% interest respectively in GPIT.
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