BATTERY-MAKER All Pantronic Holdings plans to make rechargeable nickel-cadmium (nicad) batteries in partnership with a United States company and a subsidiary of China Aerospace Corp.
All Pantronic financial controller David Chu said the company, formed in 1978 as a maker of voltage converters, would hold 50 per cent of the venture.
The US technical partner, ECI, would hold 10 per cent and China Aerospace's Xin Yu Power Supply Factory would hold 40 per cent.
'With ECI's strong technology support and Xin Yu's familiarity with both the industry and the China market, we are all convinced that such an investment plan will earn a much quicker return within a shorter time frame, when compared with a plan where everything starts from the ground,' All Pantronic group chairman C K Ho, said.
Initial capital investment for the joint venture was $20 million with a maximum production capacity of 1.2 million to 1.5 million nicad batteries a month, he said.
More production lines would be added this year and production capacity was expected to double.
