Wanxiang beats JCI for A123 assets
Dec 10, 2012 | 02:20 PM
| Daniel Fitzgerald
Tags
A123 Systems,
Wanxiang America,
Dave Vieau,
Johnson Controls,
Power Solutions,
Alex Molinaroli,
automotive batteries,
Daniel Fitzgerald
NEW YORK — Wanxiang America Corp. will acquire nearly all the assets of battery manufacturer A123 Systems Inc. for $256.6 million, with Johnson Controls Inc. (JCI) declining to match Wanxiang’s bid.
The deal includes A123’s automotive, grid and commercial business assets, including all technology, products, customer contracts and U.S. facilities in Michigan, Massachusetts and Missouri; its cathode powder manufacturing operations in China; and its equity interest in Shanghai Advanced Traction Battery Systems Co., A123’s joint venture with Shanghai Automotive, Waltham, Mass.-based A123 said in a statement Sunday. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here