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January 6, 1998 - Technology Company Begins Delivery of Newest Product March 3, 1998 - Battery Company Signs Distribution Agreement May 11, 1998 - Magnacharge Battery Corporation Announces Acquistion
Well known in the Canadian cellular industry, Myroka has been manufacturing and supplying cellular batteries and accessories to the communication after market in North America for 15 years. The acquisition, which includes the sales network, inventories and manufacturing equipment of Myroka, will be integrated with the New Westminster, British Columbia operation of Magnacharge Battery Corporation, which also has Canadian sales and warehouse locations in Victoria, Edmonton, Calgary and Mississauga. The addition of Myroka furthers Magnacharge's penetration of the communication battery and accessory market in Canada, which, along with the mobile computing battery and accessory market, is a focused market segment for the company. 100 percent owned by Battery & Wireless Solutions Inc., Magnacharge is a Canadian assembler and distributor of a wide range of battery products including industrial motive, automotive, communication, notebook computer and specialty battery applications.
BATTERY COMPANY SIGNS DISTRIBUTION AGREEMENT Vancouver, BC: Battery & Wireless Solutions Inc. (BWS:ASE), announces it's subsidiary, Magnacharge Battery Corporation, has been appointed the Master Distributor for Canada for the Hi-Capacity™ line of notebook computer batteries, AC adapters and DC adapters. Magnacharge Battery Corporation is a leading Canadian distributor of batteries and accessories operating from four distribution centres located in Mississauga, Edmonton, Victoria and Vancouver. Magnacharge Mobility, a division of Magnacharge Battery Corporation, specializes in the high growth area of mobile communications and computing and will integrate the Hi-Capacity™ product line into it's distribution infrastructure. Hi-Capacity™ notebook computer batteries are manufactured and distributed by Battery-Biz Inc. of Westlake Village, California, a leading US supplier of replacement batteries to the notebook industry, who offer the widest range of notebook computer batteries available '. This renewable five year agreement, expected to increase revenues by 500% in the first year, provides Magnacharge Mobility the opportunity to become the leader in mobile computing battery distribution in Canada and complements their existing line of communication batteries and mobile computing peripheral devices. This line of products will be channeled through computer equipment distributors and resellers in Canada who will be supported with Hi-Capacity™ proprietary electronic cataloguing and cross referencing. The company expects to launch in Canada during March, 1998. This announcement represents another of a number of recent developments that Battery & Wireless Solutions Inc., (BWS-.ASE) has announced that continues to solidify the companies position as a leader in the Canadian battery and mobile computing peripheral market. The ASE has neither approved or disapproved this announcement. For additional information, contact Gordon Ball at 403-271-5050 or Les Granholm at 1-888-808-7788 or e-mail at lgranholm@bwsinc.com.
TECHNOLOGY COMPANY BEGINS DELIVERY OF NEWEST PRODUCT CALGARY, AB and MORGAN HILL, CA: Battery & Wireless Solutions Inc., (BWS:ASE), announces that its US subsidiary, Portable Peripheral Technologies, has completed the design and testing of it's newest DC adapter for use with Panasonic notebook computers. This DC adapter is designed for use in passenger and commercial vehicles and has received FCC and CE certification thereby giving it worldwide acceptance for OEM, government and commercial applications. Portable Peripheral Technologies was formed in 1997 by Battery & Wireless Solutions Inc. in order to develop peripheral plug in devices as productivity solutions for the mobile computing industry in the US and abroad. The mobile computing industry is a US $50 billion industry and is projected to grow by over 10% per year for the next five years. The company began shipping the AA-P900 auto adapter this week to several locations in North America and expects shipments to European locations in the next few weeks once production backlogs are cleared. This product represents the first major development by Portable Peripheral Technologies, and is significant in that the company began operations only six months ago. The company is currently designing the military version of this same DC adapter and will begin production of the military version in February, 1998. Battery & Wireless Solutions Inc., (BWS:ASE), supplies batteries and accessories to the automotive, industrial and wireless communication markets in Canada through it's wholly owned subsidiary, Magnacharge Battery Corporation. Magnacharge Battery Corporation is a wholesale distributor with warehouse distribution facilities in Vancouver, Victoria, Edmonton and Mississauga, Canada. Consolidated sales for 1997 will be $8.1MM CDN., an increase of 35% over 1996. Consolidated revenues for 1998, including contributions from Portable Peripheral Technologies, are projected to increase by over 150% to more than $20MM CDN.
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