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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.
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