Energy Conversion Devices files Chapter 11, seeks sale of businesses; Ovonic Battery Company sold to BASF Corporation
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FEBRUARY 14, 2012
On 13 February ECD sold its majority owned subsidiary, Ovonic Battery Company, Inc. However, current cash is anticipated to be sufficient for expected operations during the Chapter 11 proceeding, and therefore the Company is not expected to require third-party debtor-in-possession financing. Earlier post.)
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