Chinese company to finance bankrupt A123
A123 had said Milwaukee-based auto-parts maker Johnson Controls (JCI) had agreed to buy its automotive assets for $125 million. JCI, however, ceded the role bankruptcy lender role to Wanxiang, which also is interested in bidding for A123's assets. A hearing to approve the bidding procedures began Monday but was adjourned until Thursday. A123, which is based in Waltham, Mass. , and makes lithium ion batteries for electric cars, has received more than $130 million of a $249 million Department of Energy grant it was awarded three years ago.
Chinese company to finance bankrupt A123
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Company: Johnson Controls
Overall Sentiment: 0.147207
Relevance: 0.814168
Company: A123
Overall Sentiment: -0.021668
Relevance: 0.674909
Disambiguation: References:
Organization: Department of Energy
Overall Sentiment: 0
Relevance: 0.624508
Disambiguation: GovernmentAgencyReferences:
City: Waltham
Overall Sentiment: 0
Relevance: 0.661985
Disambiguation: AdministrativeDivisionReferences:
StateOrCounty: Mass.
Overall Sentiment: 0
Relevance: 0.423333
Disambiguation: Location | PoliticalDistrict | AdministrativeDivision | GovernmentalJurisdiction | USStateReferences:
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Chinese company to finance bankrupt A123
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Battery maker filed for bankruptcy protection last month after Department of Energy awarded the company a $249 million grant
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- a123
- bankrupt company
- battery maker
- chinese funding
- Department of Energy
- electric car battery
- johnson controls
- wanxiang
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