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BATTERY MAKERS * WORLDWIDE
* Massachusetts / USA - Battery maker A123 expects loan default
Waltham,MA,USA -The Detroit News, by Karl Henkel -October 16, 2012: -- Electric-vehicle battery maker A123 Systems Inc. said in a regulatory filing Monday that it is running out of cash and expects to default on a loan payment today... In a filing with the U.S. Securities and Exchange Commission, A123 acknowledged that it may not have enough cash to fund operations and may need to seek bankruptcy protection... A123 said it did not expect to pay an interest payment Monday on $143.8 million of notes that expire in 2016, nor will it make a payment on $2.76 million in outstanding 6 percent notes... A123 has faced a series of problems, including layoffs and the recall of some batteries for safety concerns...
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