Delhi, February 24, 2004: SAR Silicon Systems Pvt. Ltd., today announced their Technology TransferAgreement with the US $ 685 million giant EaglePicher Incorporated, USA (a diversified manufacturer of advanced technical and industrial products) for manufacturing automotive and Valve Regulated Lead Acid (VRLA) batteries.

Announcing the technology alliance here today, Mr. Rakesh Malhotra, Managing Director, SAR Silicon Systems Pvt. Ltd., said, "SAR has entered into a technology transfer arrangement to bring automotive and VRLA batteries built with the highest technology standards to the Indian consumer." He further added, "The technology development and R&D in the battery industry in India has not kept pace with global standards due to lack of effective competition in the industry." "Recognizing the need to bring superior technology automotive and VRLA batteries, SAR has entered into the technology transfer and licensing agreement with EaglePicher Incorporated, a 160 year old US multinational." 

"This is an opportune time for EaglePicher to enter the Indian commercial marketplace," said Craig Kitchen, President and CEO of EaglePicher Technologies, LLC. "In the booming Indian economy, the number of carmakers has expanded from 1 or 2 to more than 10, and the number of cars on the road is growing exponentially." 

Kitchen added, "EaglePicher is the world leader in aerospace battery design and manufacturing and is also known for its broad range of solutions for commercial power applications. In addition to state-of-the-art technology, EaglePicher brings rigorous application of Six Sigma and project management methodologies as well as ISO 9001 certification." 

"EaglePicher is proud to team with SAR, a leader in its own right in the areas of UPS systems, power conditioning and emergency power," said Nishith Dave, Vice President and Managing Director, India and Global Sourcing for EaglePicher Technologies, LLC.. "Our areas of expertise are highly complementary. Together EaglePicher and SAR will bring innovation to power applications in India." 

"EaglePicher offers a heritage of high quality and exceptional workmanship and brings the expertise of some of the world's top scientific and engineering talent," Dave added. "We are pleased to 'raise the bar' on battery technology while making it affordable for the Indian consumer."