BTI Enters Letter of Intent with DEMA Group of Companies

March 27, 2001 by Jeff Shepard

Battery Technologies Inc. (BTI, Canada) announced that it has entered into a letter of intent with the DEMA Group of Companies (Sweden), to acquire 100 percent of the company for shares in BTI. The DEMA Group of Companies consists of Dema AB, the distributor of Toshiba batteries Scandinavia, the Demacell brand of RAM batteries, and the Demacell line of Smartlights. The company is privately owned by Mats Saljstam. It currently has exclusive distribution for Toshiba's line of alkaline products in Sweden, Norway, Finland, Denmark, Iceland and the Netherlands.

J. Bruce Pope, president and CEO of BTI, commented, “We are really pleased to be able to announce the execution of our new strategic business direction; turning from strictly a licensor into a full-fledged new-economy marketer. We are very excited by the prospects of quickly advancing our strategic mandate to build a business in Europe through building on the established strengths of the Dema Companies. It is a strong, stable company with a solid base of support in its markets, and an excellent portfolio from which to expand."