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Chinese-owned firm completes A123 purchase

Awardee Story Chinese-owned firm completes A123 purchase
Date: Jan 29, 2013

Source: Boston Globe ( click here to go to the source)

A Chinese-owned company completed its purchase of nearly all assets of bankrupt Waltham battery maker A123 Systems Inc. Tuesday, a day after winning approval of the deal by a federal oversight committee. Wanxiang America Corp., the North American subsidiary of the Chinese auto parts conglomerate Wanxiang Group, said it was notified Monday that the Committee on Foreign Investment in the United States, or CFIUS, had cleared its purchase of A123. CFIUS ia federal panel that scrutinizes foreign acquisitions of American businesses to protect national security.

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