JCI in $125M deal to acquire A123’s automotive assets
Oct 18, 2012 | 04:32 PM
| Daniel Fitzgerald
Tags
Johnson Controls Inc.,
JCI,
A123 Systems Inc.,
acquisition,
electric vehicle batteries,
hybrid vehicle batteries,
Johnson Controls Power Solutions,
Alex Molinaroli
Ahanghai Automotive Industry Corp.
NEW YORK — Johnson Controls Inc. (JCI) has struck a deal to acquire the automotive assets of electric and hybrid vehicle battery manufacturer A123 Systems Inc., which filed for Chapter 11 bankruptcy protection earlier this week.
Under the terms of the $125-million deal, Milwaukee-based JCI will acquire all of A123’s automotive technology and customer contracts, its manufacturing facilities in Livonia and Romulus, Mich., its cathode powder manufacturing facilities in China, and....
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