"A123 Systems will remain as it is, an American company that will be operated and governed in the same manner as it has been", says Wanxiang Group. Chief Executive David Vieau
“We believe the acquisition by Wanxiang will provide A123 with the financial support necessary to strengthen our competitive position … and we look forward to completing the sale,” Mr. Vieau said.
Ni said Wanxiang's ownership of A123 is less detrimental to the jobs at the plants in Livonia and Romulus than JCI or another buyer would be.
"We have nowhere to go, and we have a customer base to serve here, and we don't have other (battery) operations to consolidate into."
"Ni added that A123 would not be merged with Wanxiang's lithium-ion battery unit."
"A123 is an American company and will be an American company," Pin Ni, head of Wanxiang's U.S. operations and son-in-law of the group's founder, told Reuters.
Wanxiang said its offer would best preserve the "integrity" of the battery maker and the jobs of A123's 2,400 employees
