Superconductor Technologies Inc. in negotiations for JV with Hunchun BaoLi
Provider of infrastructure products for wireless voice and data applications Superconductor Technologies Inc. (Nasdaq:SCON) reported this morning that it is in negotiations to form a joint venture with Hunchun BaoLi Communication Co. Ltd., which manufactures push-to-talk handsets and the associated battery technology in China.
The proposed joint venture would focus on the manufacturing and marketing of Superconductor’s SuperLink interference elimination product for the Chinese market. SuperLink lowers dropped and blocked calls, extends coverage, and enables faster wireless data rates.
Hunchun BaoLi company executives said that combining its manufacturing and supply chain capabilities with Superconductor’s technology will well position both companies in China.
The companies said they would like to consummate the joint venture by the end of 2007.
Shares of Superconductor rocketed 85%, or $2.84, to $6.17 in mid-morning trading.
