Aims to Expand Global Marketplace for Rapid Recharging
MADISON, Wis., April 28 /PRNewswire-FirstCall/ -- Rayovac and Sanyo have
formed a strategic relationship with the objective of expanding the presence
of rapid-charging batteries in the $5 billion worldwide rechargeable
marketplace. Rayovac Corp. (NYSE: ROV), marketer of a top-selling
rechargeable battery brand in the United States and Europe, and Sanyo Mobile
Energy Company, an in-house company of Sanyo Electric Co., Ltd., a worldwide
leader in rechargeable battery technology, have recently entered into a
technology and manufacturing agreement to develop additional applications and
markets for the next generation of Rayovac's patented I-C3(R) (In-Cell Charge
Control) technology for Nickel Metal Hydride (NiMH) batteries.
"We view our relationship with Sanyo as an exciting and significant
development in our ongoing objective to remain at the forefront of
rechargeable battery technology," said Rayovac Chairman and CEO David Jones.
"By teaming up with Sanyo, an established worldwide technology leader in
rechargeables, particularly in the important OEM category, we expect to
capitalize on the established strengths of both companies."
Under terms of the agreement, Sanyo's research and development group
intends to further refine and develop Rayovac's I-C3 technology, optimizing
Sanyo's high-capacity technology and extending it to other applications and
battery sizes. Sanyo will also manufacture the new advanced rechargeable
batteries for Rayovac and is expected to adapt the technology for Sanyo-
branded NiMH batteries in Japanese and other Asian markets.
Rayovac's patented I-C3 technology recharges NiMH batteries in as little
as 15 minutes. This breakthrough in technology offers significant performance
and convenience advantages over existing rechargeable and disposable battery
systems. This technology transfers control of recharging from the charger to
the battery itself. A pressure control mechanism in each battery regulates
its charge, making it the fastest, safest charge currently available.
Rayovac's I-C3 NiMH batteries are also the longest lasting rechargeable
batteries in certain devices. For example, they last up to four times longer
than alkaline batteries in digital cameras.
Rayovac believes that by combining the technology of the two companies,
Rayovac and Sanyo are expected to be able to offer NiMH batteries that meet
customers' needs for both higher capacity and a more rapid charging system.
Rayovac Corporation is a global consumer products company with a diverse
portfolio of world-class brands, including Rayovac, VARTA and Remington. The
Company holds many leading market positions including: the world's leader in
hearing aid batteries; one of the top selling rechargeable battery brands in
North America and Europe; and the number one selling brand of men's and
women's foil electric razors in North America. Rayovac markets its products
in more than 100 countries and trades on the New York Stock Exchange under the
Certain matters discussed in this news release, with the exception of
historical matters, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are
subject to a number of risks, uncertainties and other factors that could cause
results to differ materially from those anticipated as of the date of this
release. Actual results may differ materially from these statements as a
result of (1) changes in external competitive market factors, such as
introduction of new product features or technological developments,
development of new competitors or competitive brands or competitive
promotional activity or spending, (2) changes in consumer demand for the
various types of products offered by Rayovac, (3) changes in the general
economic conditions where we do business, such as stock market prices,
interest rates, currency exchange rates, inflation and raw material costs, (4)
our ability to successfully implement manufacturing, distribution and other
cost efficiencies, and successful integration of our acquisitions and (5)
various other factors, including those discussed herein and those set forth in
Rayovac's most recent Annual Report on Form 10-K and Form 10Q.
SOURCE Rayovac Corporation