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Industrials

NEC to buy A123 battery systems unit from China's Wanxiang

TOKYO, March 24 (Reuters) - Japanese system integrator NEC Corp said on Monday it would buy A123 Systems’ battery systems integration business from China’s Wanxiang Group for about $100 million.

NEC said it was aiming to strengthen its battery storage systems business through its purchase of the unit, A123 Energy Solutions.

Wanxiang bought U.S.-based A123 Systems last year following a bankruptcy auction. (Reporting by Kaori Kaneko; Editing by Edmund Klamann)

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