NEWARK, N.Y., Jan 10, 2008 (BUSINESS WIRE) -- Ultralife (NASDAQ: ULBI) has been awarded an exclusive contract
from a UK defense prime contractor valued at approximately $7 million
to provide lithium ion rechargeable batteries and chargers to the
British military. Deliveries are expected to begin this month and be
completed in the second quarter.
"We are delighted that our industry-leading batteries and charging
systems designed with our SmartCircuit(TM) technology have been chosen
as a power source for use by the British military," said John D.
Kavazanjian, Ultralife's president and chief executive officer. "The
contract solidifies our platform to further build relationships with
prime international defense contractors and offers us the opportunity
to increase volume at our UK facility."
About Ultralife
Ultralife is a global provider of high-energy power solutions and
communications accessories for diverse applications. The company
develops, manufactures and markets a wide range of non-rechargeable
and rechargeable batteries, charging systems and accessories for
markets including defense, commercial and consumer portable
electronics. Through its portfolio of standard products and engineered
solutions, Ultralife is at the forefront of providing the next
generation of power systems and accessories. Defense, commercial and
retail customers include: General Dynamics, Raytheon, Philips Medical
Systems, General Motors, Energizer, Kidde Safety, Lowe's, Radio Shack
and the national defense agencies of the United States, United
Kingdom, Germany, Australia and New Zealand, among others.
Ultralife's headquarters, principal manufacturing and research
facilities, and its McDowell Research operating unit are in Newark,
New York, near Rochester. Ultralife's other operating units are:
Ultralife Batteries (UK) Ltd., in Abingdon, England; Innovative
Solutions Consulting in Hollywood, Maryland; Stationary Power Services
in Clearwater, Florida; and ABLE New Energy in Shenzhen, China.
Detailed information on Ultralife is available at:
www.ultralifebatteries.com.
This press release may contain forward-looking statements based on
current expectations that involve a number of risks and uncertainties.
The potential risks and uncertainties that could cause actual results
to differ materially include: worsening global economic conditions,
increased competitive environment and pricing pressures, disruptions
related to restructuring actions and delays. Further information on
these factors and other factors that could affect Ultralife's
financial results is included in Ultralife's Securities and Exchange
Commission (SEC) filings, including the latest Annual Report on Form
10-K.
SOURCE: Ultralife
Ultralife
Pete Comerford, 315-332-7100
pcomerford@ulbi.com
or
Investor Relations:
Lippert/Heilshorn & Associates, Inc.
Jody Burfening, 212-838-3777
jburfening@lhai.com
