标题: A123 and Wanxiang [打印本页] 作者: choi 时间: 10-17-2012 08:55 标题: A123 and Wanxiang Bill Vlasic and Matthew L Wald, Bankruptcy for Maker of Batteries; A multimillion-dollar deal with Chinese manufacturer of auto parts Falls through. New York Times, Oct 17, 2012 http://www.nytimes.com/2012/10/1 ... for-bankruptcy.html
(Based in Waltham (a Boston suburb), Massachusetts (with a factory near Detroit) and a maker of lithium-ion batteries for electric cars, A123 Systems filed for bankruptcy, after having drawn $132 million of US Department of Energy's $249-million grant--plus another $6 million given in 2007 by the Bush administration as well as a $9 million grant from Michigan. Simultaneously A123 announced sale, for $125 million, of its automotive assets and factories to Johnson Controls)
Two consecutive paragraphs:
"Wanxiang 万向集团, which has its United States headquarters outside Chicago, pledged in August to invest up to $465 million in A123, but the deal fell apart for undisclosed reasons.
“We determined not to move forward with the previously announced Wanxiang agreement as a result of unanticipated and significant challenges to its completion,” said David Vieau, A123’s chief executive, in a statement.
(2) Wall Street Journal is more explicit about Wanxiang.
Patrick Fitzgerald, Mike Ramsey, Mike Spector and Ryan Tracy, Battery Maker Files for Bankruptcy; A123 scraps China deal and will sell electric-car assets to Johnson Controls. WSJ, Oct 17, 2012.