KUALA LUMPUR, March 28 (Bernama) -- 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.
Under the acquisition, 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.
"We are confident that this acquisition helps propel Lithium Werks into a leadership position in the lithium iron phosphate market globally," said chairman of Lithium Werks, Knut H. Nylænde in a statement.
Meanwhile, vice-president of Corporate Strategy at A123 Systems, Jeff Kessen commented that A123 Systems is pleased to have concluded the agreement and is confident that their former customers in the industrial market are in great hands with Lithium Werks.
The acquisition also named Lithium Werks as the new owner of the ?POWER. SAFETY. LIFE.' trademark that characterised A123's product portfolio in its early years.
Lithium Werks, a global lithium ion battery company, provides cells, modules, and battery management systems into markets such as material handling, stationary energy storage, medical and commercial marine with production facilities in China and offices in the USA, the Netherlands, Northern Ireland, Great Britain and Norway.
A123 Systems is a global leader in providing complete energy storage solutions through advanced battery cells and systems for transportation applications.
-- BERNAMA
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