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Li-ion maker International Battery shuts down

19 March 2012

Express-Times. Li-ion manufacturer International Battery (earlier post) shut down recently, citing its inability to turn a profit. The company said it would sell its assets and technology and use that money to pay creditors.

The Morning Call reported the company also owes Pennsylvania more than $2 million; state lawyers are initiating efforts to recover some of the debt.

State officials are also in discussions with the company regarding a project for which International Battery received an $800,000 grant in 2010. That project has not been completed.

March 19, 2012 in Brief | Permalink | Comments (4) | TrackBack (0)

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Comments

Too many competitive suppliers.

Wrong place at the wrong time?

It looks like they were making packs for UPS systems and not vehicles. If you are in the wrong market, no amount of good will can carry you through.

" the company also owes Pennsylvania more than $2 million; state lawyers are initiating efforts to recover some of the debt."

and "received an $800,000 grant in 2010. That project has not been completed."

Prima facie evidence that they have been donating money to the Republican Party - Bad move.

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