1. Home
  2. Articles posted by: Rona Fried (Page 1985)

Ballard Encourages Vote for Sale to DaimlerChrysler and Ford

Ballard Power Systems Inc. (TSX:BLD; NASDAQ:BLDP) – ISS Recommends Ballard Stockholders Vote FOR the Company’s Special Resolution to Approve Sale of German Subsidiary Ballard Power Systems today announced that Institutional Shareholder Services (“ISS”), the leading proxy advisory firm advising institutional investors in proxy voting matters, has recommended, in a report dated August 11, 2005, that shareholders vote FOR the special resolution to approve the sale of the company’s German subsidiary, Ballard Power Systems AG (“BPSAG”) to its Vehicular Alliance Partners, DaimlerChrysler AG (“DaimlerChysler”) and Ford Motor Company (“Ford”). The special resolution is the key agenda item at Ballard’s upcoming special shareholders’ meeting, scheduled for August 29, 2005. In recommending a vote FOR the special resolution to approve the sale of BPSAG, ISS said, “We find the transaction and ancillary arrangements to make good strategic sense and also understand the need to allow DaimlerChrysler and Ford to continue to enjoy the privileges attached to their shareholdings. A strong relationship with these two companies is important for Ballard given their undertaking to purchase vehicular fuel cell products from the company and the funding commitments they have made.” About Ballard Ballard Power Systems designs, develops and manufactures zero-emission proton exchange membrane fuel cells. […]

Read More

ECD Ovonics' Battery Subsidiary Grants Patent License to Intellect Battery Co. of China

Energy Conversion Devices, Inc. (ECD Ovonics) (Nasdaq: ENER) announced today that its subsidiary, Ovonic Battery Company, Inc. (Ovonic Battery), has entered into a patent license agreement in connection with its proprietary nickel metal hydride (NiMH) battery technology with Intellect Battery Co. Ltd. (Intellect) of the People’s Republic of China. Under the consumer battery license grant, Intellect has a royalty-bearing, nonexclusive right to make, use and sell NiMH batteries for consumer, nonpropulsion applications. In a joint statement, Robert C. Stempel, Chairman and CEO of ECD Ovonics and Chairman of Ovonic Battery, and Stanford R. Ovshinsky, President and CTO of ECD Ovonics and CEO of Ovonic Battery, said, “We are pleased to welcome Intellect to the growing number of our Chinese licensees to manufacture consumer NiMH batteries. We are continuing with our strategy to license battery manufacturers within the quickly growing Chinese NiMH battery market. We look forward to a long-lasting relationship with Intellect Battery.” About ECD Ovonics ECD Ovonics is the leader in the synthesis of new materials and the development of advanced production technology and innovative products. It has invented, pioneered and developed its proprietary enabling technologies in the fields of energy (including Ovonic NiMH batteries and Ovonic thin-film continuous-web […]

Read More