China Ritar Power, a major Chinese manufacturer of lead acid batteries, says that despite the slowdown in the global economy there is a healthy increase in the demand for batteries to be used in telecommunications and alternative energy.
As a case in point, Ritar has received an increase in orders from one of its top customers, Emerson Electric Company. Emerson is in the process of expanding its service areas throughout the Southeast Asia region resulting in an increase in the demand for telecommunications batteries. The company ordered batteries worth CNY4 million in June and is expected to order at least another USD10 million worth of batteries during the second half of the year.
Jiada Hu, China Ritar's chairman and CEO, commented that the company continues to experience a healthy increase in demand for its batteries; and the Chinese government is committed to funding an increasing number of renewable energy projects in an effort to spur economic development and advance its goal of supporting a cleaner environment.