An American battery maker Advanced Battery Tech (ABAT) signs an agreement with a township government in Dongguan on January 5th to build a plant in the city.
In the agreement, the NASDAQ listed battery maker will invest $ 83 million building a plant at Sanzhong Village in Qingxi Township of Dongguan. The plant is expected to cover 56K sq meters of space which the company believes will have the capacity to produce 500K mobile phone battery cells and 70k medium/large batteries on a daily basis. Once the new facility is ready for production (estimated at 6 months), it could add up to $100 million in annual sales which would essentially the double the yearly revenue from current levels.
Advanced Battery Technologies, Inc. (NASDAQ: ABAT), founded in September 2002, develops, manufactures and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company has a New York office, with its executive offices and manufacturing facilities in China.
