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Leclanch SA settles dispute with supplier

Yverdon-les-Bains, Switzerland, January 9, 2014 - Leclanch S.A. (SIX Swiss Exchange: LECN), specialized in the production of large-format lithium-ion cells and energy storage solutions, today confirms that it has reached a resolution in connection with the termination of a supply contract.

Resolution of Supplier Dispute

On September 25, 2013, Leclanch stated that it had terminated a supplier contract due to quality and contamination issues with the raw material delivered by this supplier. The company further advised that the supplier had rejected Leclanch's position but that Leclanch strongly maintained its initial position to terminate the supply agreement.

The Company is now pleased to advise that it has reached an amicable settlement with the supplier and that the contract has been terminated.

About Leclanch

Leclanch's strategy is to become one of the leading lithium-ion cell producers and solution providers for energy storage systems in Europe. Its strategic priorities are to develop and market energy storage products for home, industrial markets and grid applications and to grow its existing businesses of developing portable energy storage systems for military, medical and industrial applications. It also includes providing a range of professional energy storage systems to a diversified customer base. Through participation in research consortia focusing on hybrid and E-mobility applications, Leclanch is positioned to take advantage of new market opportunities.

Through a unique, patented ceramic separator technology and focus on lithium-titanate technology, Leclanch manufactures large-format lithium-ion cells, optimized for safety and cycle-life, in a fully automated production process. The newly installed production line will have an annual capacity of one million cells or 76 MWh.

Leclanch was founded in 1909 in Yverdon-les-Bains. Through the integration of a spin-off from the Fraunhofer-Gesellschaft in 2006, the company evolved from a traditional battery manufacturer to become a leading developer and manufacturer of lithium-ion cells in Europe. Leclanch currently employs more than 100 staff and is listed on the SIX Swiss Exchange (LECN). The company has its headquarters in Yverdon-les-Bains (Switzerland) and production facilities in Willsttt (Germany).

Read the original:
DGAP-Adhoc: Leclanché SA settles dispute with supplier