30 Jan '13, 4pm

US Elections Behind, A123 Sale Moves Ahead

After a stormy 2012 that saw growing trade friction between China and the US, I'm happy to see that 2013 is getting off to a better start with Washington's approval of a potentially sensitive sale of a bankruptcy US technology firm to a Chinese buyer. Many readers will know that I'm talking about the case of A123 Systems, a former high-flying U.S. battery maker that fell on hard times as new energy industries worldwide experienced a broader downturn in demand for their products. In this case, Chinese buyer Wanxiang Group had won an auction for most of A123's assets in a US bankruptcy court, which should have been the final step for closure of the deal. But then some U.S. politicians, prodded by one or more companies that lost in the bidding process, started pressuring the Obama administration to kill the deal, since it involved cutting-edge technologies used in lithium ion...

Full article: http://www.renewableenergyworld.com/rea/blog/post/2013/01...

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