JCI cites ‘national security’ in sale appeal

Dec 18, 2012 | 04:14 PM | Daniel Fitzgerald

Tags  Johnson Controls, JCI, A123 Systems, Wanxiang Group, Wanxiang America, lead batteries, Alex Molinaroli, Daniel Fitzgerald

NEW YORK — Johnson Controls Inc. has filed an appeal against the sale order of A123 Systems Inc. to Wanxiang America Corp. while reiterating its concerns about "national security questions" arising from such a sale.

JCI said it filed the appeal in bankruptcy court against Wanxiang’s approved purchase in a bid to obtain the breakup fee and expense reimbursement under its original stalking horse agreement with Waltham, Mass.-based A123 (amm.com, Oct. 18).....

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