Battery Technologies to Acquire Accucell Deutschland

November 26, 2000 by Jeff Shepard

Battery Technologies Inc. (BTI, Ontario, Canada) has announced that it has entered into a letter of intent to acquire 100 percent of the business operations, assets and trademarks of Accucell Deutschland (Weiblingen, Germany).

Accucell Deutschland is a personally owned business focused on the marketing, distribution, charger and applications development of RAM batteries for Europe. Accucell has progressively built its sales volume each year and has both retail and OEM customers. The company has established itself as the brand name synonymous with rechargeable batteries in Germany. BTI is acquiring the business for 3,000,000 shares of which 2,300,000 shares are payable upon future performance by the principals and the acquired business. The purchase is subject to signing a final binding agreement which is expected to be completed in December.