Spectrum Brands Holdings, Inc. (NYSE: SPB), a diversified and global consumer products company with market-leading brands, announced its Rayovac® global battery division 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.
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.