Spectrum Brands Holdings, the publicly traded consumer products company, announced that its Rayovac division, which makes hearing aid batteries, will invest multiple millions of dollars over the next year in R&D and in its manufacturing plants to meet demand for its products. No exact dollar amounts were disclosed.
Spectrum Brands Holdings, Inc. (NYSE: SPB), a diversified and global consumer products company with market-leading brands, announced today its Rayovac® global battery division, the world’s number-one selling hearing aid battery producer, will make another multi-million dollar investment over the next year in research and development and in its manufacturing plants to meet growing demand for the world’s longest-lasting, mercury-free hearing aid batteries.
“Our leadership in technology, performance and reliability has positioned Rayovac® as the global market leader in zinc air hearing aid batteries. We remain committed to advancing battery technology for the hearing healthcare market, as we have for more than several decades.”
The investment, which will support product enhancements and new cell manufacturing and packaging lines, ensures that Rayovac’s two hearing aid battery facilities in the United States and the United Kingdom have the capacity to meet the increasing needs of hearing professionals and consumers worldwide.
Rayovac’s plants already are some of the most productive battery factories in the world, manufacturing hundreds of millions of battery cells each year which are exported to more than 100 countries. Emerging markets such as Latin America, China, India and Russia have powered demand for Rayovac’s hearing aid batteries, and technological innovations and expanded distribution have boosted sales in core markets.
“This investment will underpin the future success of Rayovac® in the global market, ensuring we expand our position as the leader and innovator in this growing battery category,” said Randy Raymond, Vice President of Rayovac®. “The new technologies our team is developing will help us to meet our commitment to hearing aid users and the global hearing healthcare industry to provide the longest-lasting, most reliable hearing aid batteries available. And, of course, it is a given that this effort is directed behind batteries that contain no added mercury.”
This new investment marks a period of continued growth and recognition for Rayovac’s hearing aid battery business. The company has garnered a string of international awards, including the Queen’s Award for Enterprise for Export in 2012, the Queen’s Award for Enterprise for Innovation in 2011, and two International Business Awards (The Stevies®) in the wake of the success of its mercury-free batteries.
In April 2012, Rayovac® launched its best-performing, most powerful hearing aid battery, which lasts longer than its competitors and has an operating voltage able to support even the highest-end hearing aids.
“We have made significant investments in time and capital to advance the state of the art in mercury-free hearing aid batteries,” said Raymond. “Our efforts have been recognized in the market through the growth and expansion of our global distribution base, requiring further investment in our manufacturing capacity to meet the rapid growth in demand. This is an ongoing process at Rayovac®, and we continuously work with hearing aid manufacturers, hearing aid professionals and hearing aid users so that we can power not only today’s highly advanced hearing aids, but also those of the future.
“The global hearing aid battery market will continue to grow, driven by a combination of factors such as aging populations, advances in hearing instrument technology and growth in emerging markets,” said Raymond. “Our leadership in technology, performance and reliability has positioned Rayovac® as the global market leader in zinc air hearing aid batteries. We remain committed to advancing battery technology for the hearing healthcare market, as we have for more than several decades.”
About Spectrum Brands’ Global Battery Business
Spectrum Brands Holdings’ worldwide battery business, a leader in battery power and innovation, spans the globe, from North America to Europe and Latin America where the Company is among the top one, two or three suppliers in each region. In Central Europe, the premium-positioned VARTA® is the second-largest alkaline battery brand. In North America, Rayovac® is the number-three brand with a well-defined value proposition and growing share, and in Latin America, the Rayovac® brand dominates the battery market. The Company also is the leading global supplier of hearing aid batteries. Backed by a long history of bringing the latest innovations to the marketplace, our portfolio features a wide variety of consumer batteries, including alkaline, zinc carbon, hearing aid, rechargeable batteries and chargers. Rayovac® and VARTA® also market portable lighting products. Our state-of-the-art products offer more power for the money. For more information, visit www.rayovac.com and www.varta-consumer.com.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc., a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, the Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, Remington®, VARTA®, George Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot® and Black Flag®. Spectrum Brands Holdings’ products are sold by the world’s top 25 retailers and are available in more than one million stores in more than 120 countries. Spectrum Brands Holdings generated net sales of approximately $3.2 billion in fiscal 2011. For more information, visit www.spectrumbrands.com.