29 Oct '12, 3am

A123 Systems Saga Is Far From Over

"We are concerned that back-and-forth posturing by other interested parties may lead to confusion and anxiety for A123's employees and customers and thus destroy underlying value in the estate," said Alex Molinaroli, president, Johnson Controls Power Solutions. "We have agreed to step aside as the debtor-in-possession funder in order to keep the process moving and allow it to conclude in the most efficient manner possible. We want to reassure employees, customers and other stakeholders that Johnson Controls remains committed to our acquisition of A123, which will keep a source of critical jobs, intellectual property and advanced battery technology in the United States."

Full article: http://www.hybridcars.com/news/a123-systems-saga-far-over...

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