Ultralife Batteries Awarded Army Battery Contracts
Ultralife Batteries Inc. (Newark, NY) announced that it has been awarded three contracts totaling $14.4 million, the most recent of which is valued at $12.0 million, by the US Army Communications Electronics Command (CECOM), for its UBI5390 lithium/manganese dioxide primary (non-rechargeable) battery.
Shipment against the first, and smallest, contract was made in late November 2002, and deliveries against the second contract will commence in December. Deliveries against the third, and largest, contract will commence in February 2003 and continue through July 2003. Ultralife has received authorization to immediately commence production against this contract while the terms and conditions are being finalized.
John Kavazanjian, Ultralife's president and chief executive officer, said, "The receipt of these contracts is a major milestone for our company, bringing us to a new level of success in our long-term effort to expand our military battery product line to support the defense markets worldwide, and will contribute significantly to our goal to achieve profitability in the near term. This battery will be a substantial new asset for the Army to power a wide range of equipment."