Detroit Free Press: Judge's approval moves A123 bankruptcy sale closer to completion
The Detroit Free Press reports the vast majority of bankrupt battery maker A123 Systems’ assets likely will be sold to Chinese auto parts company Wanxiang for $256.6 million after U.S. Bankruptcy Court judge Kevin Carey approved the bid Tuesday.
AP Photo/Paul Sancya
Navitas Systems, an Illinois-based company, is purchasing the company’s defense-related assets including its Ann Arbor office. Wanxiang would take over plants in Livonia and Romulus.
Click here to read the full report from the Detroit Free Press.