NEW YORK, Oct. 12, 2010 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries as well as a manufacturer of electric vehicles, today announced that it has received a re-order from its Turkey-based client Unitek. The re-order contract is valued at $0.72 million. The company expects to ship these electric scooters by November 2010.
In its efforts to expand the Company's sales network in Turkey, a sales distribution agreement was established with Kanuni Motorcycle, a well-known motorcycle producer in Turkey. According to this distribution agreement, Kanuni will sell three types of electric scooters produced by ABAT's electric vehicle business through its strong, local distribution network.
Mr. Zhiguo Fu, CEO of ABAT, stated, "The re-order obtained from our previously established client exemplifies our product's quality and strong consumer demand. Turkey is an important market for our electric scooters and we look forward to providing more products locally through our new strategic partner, Kanuni. Management plans to continue expanding our sales network in Southern Europe. "
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (Nasdaq:ABAT), founded in September 2002, develops, manufactures and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company's products include rechargeable PLI batteries for electric automobiles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other electronic devices. ABAT's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. Early in 2009, the Company acquired Wuxi Angell Autocycle Co. Ltd., an electric vehicle business, and renamed it Wuxi Zhongqiang Autocycle Co., Ltd. ("Wuxi ZQ"). The Company has a New York office, with its executive offices and manufacturing facilities in China.
Safe Harbor Statement
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