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New Partnership Brings Unique Power Solution to Middle East Market
Lakeland, Fla.—December 11, 2007—Solicore today announces an agreement with Semicom-Lexis Ltd (TASE: SMCM) for the exclusive distribution of Solicore’s paper-thin Flexion® batteries in Israel. This strategic alliance launches Solicore in the Middle East market by leveraging Semicom-Lexis’s extensive knowledge of key industrial and consumer electronic needs in the region, as well as their network of relationships with security, power and component OEMs.
Israel has emerged as a leader in high-tech development of advanced security solutions, with Semicom-Lexis at the cutting edge of new technologies and applications. Semicom-Lexis is one of only five design and distribution companies of its kind to be publicly traded on the Tel-Aviv Stock Exchange. Its partnerships with diverse global OEMs allow the company to provide value-added engineering and distribution services to its high-profile client roster. Adding the Flexion batteries, as the only thin and flexible power source to its existing portfolio of battery solutions, broadens the scope of opportunities for diversification to its clients.
“Although we offer an array of battery products, none of our partners are able to provide anything comparable to the kind of ultra-thin flexible batteries Solicore has developed, which has previously limited our ability to fulfill various requests we’ve received,” said Udi Doron, Director of Sales and Marketing at Semicom-Lexis. “In addition to the smart card and RFID applications integrating Solicore’s Flexion batteries already in development, the unique nature of this technology provides us new horizons in designing products that have not been possible due to the limitations of existing power solutions.”
Solicore’s entrance into the Israeli market brings exciting opportunities. Semicom-Lexis does 15 to 20 percent of its business with the Israeli military—a new market segment that will showcase the limitless applications of Solicore’s batteries.
“Solicore’s relationship with Semicom-Lexis provides an important gateway to the Middle East market, providing new opportunities for us in areas we are excited to build on to further fuel our growth,” says Solicore Executive Vice President of Battery Sales and Business Development, James P. McDougall. “Semicom-Lexis’s military contracts create a space for us to contribute to new solutions that open many doors for us, while securing exposure for Solicore to some of the largest companies and technology developers in the world.”
Adding to its existing relationships with distributors in Asia, Europe, North America and South America, Solicore’s emergence in the Middle East strengthens its presence as a global leader in embedded power solutions. More information about Solicore and its Flexion battery portfolio can be found at www.solicore.com.
About Solicore, Inc.
Solicore is a worldwide leader of embedded power solutions, offering its Flexion® product portfolio of advanced ultra-thin flexible lithium polymer batteries for powered cards, RFID and micro medical devices. Solicore’s advanced battery technology is ultra-thin, flexible, safe and environmentally friendly, and significantly enhances the capabilities of lithium-based batteries. For more information, visit www.solicore.com.
About Semicom-Lexis Ltd
Semicom-Lexis is a design house for hardware and software solutions for extensive disciplines, as well as a professional distributor for electronic components of various product lines. The Israel-based company serves as a supply channel partner for more than 50 manufacturers worldwide and has carried over 25 international brands. For more information, visit semicomlexis.com.
This press release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause Solicore, Inc's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. Solicore, Inc. assumes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the battery industry, and changes in domestic and international market conditions, and foreign exchange rates.
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