Energizer Licensees Universal Power Group and ICP Solar Join Forces
Joint Operations and Product Supply to Increase Sales
On 8:00 am EST, Tuesday November 17, 2009
CARROLLTON, Texas & MONTREAL--(BUSINESS WIRE)--Universal Power Group, Inc. (NYSE Amex: UPG), a Texas-based distributor and supplier of batteries and related power accessories, and a provider of supply chain and other value-added services, today announced that it has entered into a supply chain management services agreement with ICP Solar Technologies Inc. (OTCBB: ICPR.OB, FRANKFURT: K1U.F), a developer and marketer of innovative solar panels, solar chargers, energy meters and other solar powered devices.
UPG is a leading, Texas-based distributor and supplier of batteries and related power accessories and a provider of supply chain and other value-added services. In December 2008, UPG entered into a licensing agreement with Energizer Holdings, Inc. to develop a line of automotive power products under the Energizer® brand for distribution through mass, specialty and automotive stores.
"We are delighted to combine our expertise in third-party logistics with ICP Solar, while also expanding the breadth of Energizer-branded products we can offer to our combined target markets”, said UPG’s president and CEO, Ian Edmonds. “This marks another step in UPG’s long-term strategy of penetrating new markets through strategic alliances, while introducing new products to our existing customers. As a result, we can offer our retail and strategic partners a more complete line of power accessories, while also adding opportunities for additional services and new distribution outlets. In addition, diversifying our markets minimizes UPG’s exposure to any one segment of the economy. ICP Solar is an example of the kinds of strategic partnerships we are seeking today, and we look forward to a mutually beneficial relationship for the long term.”
“Since UPG is also a licensing partner in the Energizer program and a major provider of third-party logistics for battery-based systems, we are collaborating with them to substantially improve ICP Solar’s in-stock performance and also add their complementary products to our offerings,” said Sass Peress, CEO of ICP Solar Technologies. “This relationship will also enable UPG to offer ICP Solar’s innovative line of Energizer-branded solar chargers to their own vast customer base. By drawing on UPG’s inventory and logistics support, ICP Solar can now increase its focus on innovation, marketing and sales. We expect this agreement to significantly improve our revenues and positively impact our bottom line for our next fiscal year.”
About Universal Power Group, Inc.
Universal Power Group, Inc. (NYSE Amex: UPG) is a leading supplier and distributor of batteries and power accessories, and a provider of supply chain and other value-added services. UPG's product offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jump-starters, 12-volt accessories, solar and security products. UPG's supply chain services include procurement, warehousing, inventory management, distribution, fulfillment and value-added services such as sourcing, battery pack assembly, coordination of battery recycling efforts, and product design and development. For more information, please visit the UPG website at www.upgi.com.
About ICP Solar Technologies:
ICP Solar is a developer and marketer of solar panels, solar monitoring and power management solutions. Through the application of its own intellectual property and next-generation technologies, the Company aims to be the solar industry's innovation leader. For the past 20 years, ICP Solar has been a lead innovator in the consumer solar market and has now begun to apply that same innovation philosophy to the OEM, rooftop and power generation segment of the solar industry. ICP Solar's management has over 50 years of experience in the renewable energy sector. ICP Solar markets its products under its sunsei® brand and, in the solar charger category, is the global licensee of the Energizer® brand. The company's headquarters are located in Montreal, Canada, with an R&D center in St. John’s, Canada and additional locations in the United States, Ireland, France and UK. Additional information may be found at www.icpsolar.com, www.energizersolar.com and www.energizersolar.eu.
About Energizer Holdings, Inc.
Energizer Holdings, Inc. (NYSE: ENR - News), www.energizer.com, headquartered in St. Louis, Missouri, is one of the world’s largest manufacturers of primary batteries, battery-powered devices and flashlights. Energizer, a global leader in the dynamic business of providing portable power geared toward the new digital age, offers a full portfolio of products including the Energizer® MAX® premium alkaline brand; Energizer® Ultimate Lithium; Energizer® Advanced Lithium and Nickel Metal Hydride (NiMH) Rechargeable batteries and chargers.
The Energizer product line also includes specialty batteries for hearing aids, health and fitness devices, as well as for keyless remote entry systems, watches and other uses. Through its flashlight and lighting products unit, Energizer helps bring consumer insight and innovation to these important household devices. Energizer continues its role as a technology leader with Energizer® Energi To Go®, portable battery powered chargers for cell phones.
Contact at ICP Solar Technologies:
Sass Peress, Chief Executive Officer
speress@icpsolar.com
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of ICP Solar Technologies Inc. and/or Universal Power Group to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in ICP Solar Technologies Inc.’s Annual Report for the fiscal year ended January 31,2009, and Universal Power Group’s Annual Report for the year ended December 31, 2008, as filed on EDGAR at www.sec.gov. The risk factors identified in ICP Solar Technologies Inc. Annual Report and Universal Power Group Annual Report are not intended to represent a complete list of factors that could affect ICP Solar Technologies Inc. and Universal Power Group. Accordingly, readers should not place undue reliance on forward-looking statements. ICP Solar Technologies Inc. and Universal Power Group do not assume any obligation to update the forward-looking information contained in this press release.
Contact:
Universal Power Group, Inc.
Mimi Tan, SVP, 469-892-1122
tanm@upgi.com
or
Investor Relations:
Lambert, Edwards & Associates
Jeff Tryka, 616-233-0500
or
Ryan McGrath, 616-233-0500
rmcgrath@lambert-edwards.com
