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Lithium Werks acquires industrial business of A123 Systems

Lithium Werks has acquired the original A123 Systems manufacturing plants located in Changzhou, China.

These plants were the first to introduce the revolutionary NanoPhosphate technology in the form of cylindrical cells that have been used globally in a wide array of applications, especially in the industrial market. As part of the transaction, Lithium Werks has taken over the customer relationships in China, Europe and the United States as well as the operations, staff and product designs associated with the Changzhou business. Lithium Werks is also the new owner of the POWER. SAFETY. LIFE. trademark that characterised A123’s product portfolio in its early years. The transaction was financed through the working capital of Lithium Werks.
“We are confident that this acquisition helps propel Lithium Werks into a leadership position in the Lithium Iron Phosphate market globally,” says Knut H Nylænde, Lithium Werks’ Chairman.
“A123 Systems is pleased to have concluded this agreement and is confident that our former customers in the industrial market are in great hands with Lithium Werks. A123 is sharpening its focus on world-class automotive applications ranging from mild-hybrids to fully electric vehicles,” says Jeff Kessen, A123 Systems’ VP of Corporate Strategy.

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