NEW YORK, Aug. 18, 2009 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT - News), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries, today announced it has begun construction on an employee vocational training center in its Shuangcheng production base, located near Harbin, China. The new training center will cover an area of 25,000 square meters, consisting of an academic center, student activity buildings and living area. The new center was designed by the Harbin Urban and Rural Design and Research Institution.
Construction began in early August and is expected to be completed in the second half of 2010. Following completion ABAT will have its own operational model consisting of training, production, and research.
Commenting on the new facility, Mr. Zhiguo Fu, ABAT's Chairman and CEO, commented, "We are excited to announce that construction has begun on our Shuangcheng vocational training facility. We are confident that this training center will increase the intellectual base of both ABAT subsidiaries in Harbin and Wuxi, and assure ABAT of a leading position within the battery technology and vehicle production industry."
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc., 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. Wuxi Zhongqiang Autocycle Co., Ltd, founded in 2002, develops and manufactures various types of electric vehicles. Wuxi Zhongqiang owns three types of products listed in the E-Bike directory, with more than 20 varieties: electric bikes; agricultural transport vehicles for practical transportation; sport utility e-vehicles such as scooters, off-road vehicles, go-karts, snow scooters, sea scooters, as well as underwater propeller vehicles. Wuxi Zhongqiang products are exported to countries and regions in Europe, the United States and Asia. The Company has a New York office, with its executive offices and manufacturing facilities in China. For more information about Advanced Battery Technologies, Inc. (ABAT), please visit: http://www.abat.com.cn.
Safe Harbor Statement
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.
Contact:
ICR, Inc.
In the U.S.:
Brian M. Prenoveau, CFA
203-682-8200
In Asia:
Yuening Jiang
+86 10 6599 7965
