Wanxiang America Corporation's A123 Systems LLC Completes Acquisition Of Substantially All Non-Government Business Assets of A123 Systems Inc

A123 Systems LLC, a newly formed, wholly owned subsidiary of Wanxiang America Corporation 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. Financial terms were not disclosed.