E-One Moli Announces Record High 1Q Revenues Of NT$1,000 Million

May 08, 2008 by Jeff Shepard

E-One Moli Energy Corp. (Molicel), a global lithium-ion battery developer and manufacturer, announced that its first-quarter cumulative consolidated sales revenues were NT$1,000 million, a 70% increase compared with the same period a year ago, which the company claims is mostly because of a sales contract with TTI group and a global battery shortage.

The company had signed an exclusive sales contract with TTI Group in 2003 for the power cell "IMR26700", used for cordless power tools. This exclusive contract expired at the end of 2007. Currently, worldwide power tool brand makers place orders with the company for the "IMR26700". E-One Moli (Molicel) forecasts that it will soon have more brand makers to introduce the Li-Ion technology in cordless tools.

The company targets its business in the field of laptop computer, power tool, and electric cars, and is expecting consolidated sales revenues to be NT$5,000 million in 2008.