# A123 Systems LLC Completes Acquisition of Substantially All Non-Government Business Assets of A123 Systems, Inc.

- Link: https://greenlivingguy.com/2013/02/a123-systems-llc-completes-acquisition-of-substantially-all-non-government-business-assets-of-a123-systems-inc-2/
- Published: 2013-02-02T01:49:00-05:00
- Author: greenguruguides

January 29, 2013 19:00**Source:** A123 Systems LLC
WALTHAM, Mass., Jan. 29, 2013(
GLOBE NEWSWIRE) — A123 Systems LLC, a newly formed, wholly owned subsidiary of Wanxiang
America Corporation, today announced that it has acquired substantially all of the
non-government business assets of A123 Systems, Inc. Included in the acquisition,
which has received approval from the Committee on Foreign Investment in the United
States (CFIUS), are A123’s automotive, grid and commercial business assets, including
technology, products, customer contracts and U.S. facilities in Michigan, Massachusetts
and Missouri; its manufacturing operations in China; and its equity interest in 
Shanghai Advanced Traction Battery Systems Co., A123’s joint venture with Shanghai
Automotive. Excluded from the acquisition is A123’s Ann Arbor, Mich.-based government
business, including contracts with the U.S. military.

“We are excited to add A123 Systems to our growing portfolio of companies as we 
continue to expand on our strategy of investing in the automotive and cleantech 
industries in the U.S.,” said Pin Ni, president of Wanxiang America. A123 will continue
to offer cutting-edge technology for vehicle electrification and grid-scale energy
storage, strong manufacturing and systems engineering capabilities and a world-class
R&D team. Wanxiang America will continue to foster the technologies A123 has worked
so hard to develop, and we believe this combination positions A123 for long-term
success. We’d also like to thank Dave Vieau for his years of dedication and service
to A123.”
A123 Systems LLC will leverage its industry-leading research and development
capability to bring innovations at the chemistry, cell and system level to market
while also ramping up manufacturing at its facilities in Michigan and Massachusetts
to meet demand from customers in three core business areas: transportation, electric
grid and lead-acid replacement. In addition, A123 will continue operating its existing
manufacturing facilities in China.

[A123 Systems LLC Completes Acquisition of Substantially All Non-Government Business Assets of A123 Systems, Inc.](https://www.globenewswire.com/news-release/2013/01/30/519361/10019838/en/A123-Systems-LLC-Completes-Acquisition-of-Substantially-All-Non-Government-Business-Assets-of-A123-Systems-Inc.html)

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