Johnson Controls Agrees To Buy A123

Businessweek reported bankrupt A123 (NASDAQ:AONE) is set to be purchased by automotive part maker, Johnson Controls Inc. (NYSE:JCI).

As quoted in the market news:

The company recently agreed to buy battery maker A123 Systems’ automotive assets, a move that will give Johnson access to new lithium battery technology.

A123 Systems Inc. filed for bankruptcy protection earlier this month. Johnson plans to keep A123 plants open and sell the company’s lithium-ion battery technology.

Click here to read the full Businessweek report.