Johnson Controls buys A123 Systems assets

Troubled A123 Systems has announced that Johnson Controls plans to acquire its automotive business assets, including an equity interest in Shanghai Advanced Traction Battery Systems Co. The asset purchase agreement also includes provisions through which Johnson Controls intends to license back to A123 technology for its grid, commercial and government businesses.

A123 continues to engage in active discussions regarding strategic alternatives for its grid, commercial, government and other operations, and has received several indications of interest for these businesses, it said in a statement.

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