Energy Conversion Devices files Chapter 11, seeks sale of businesses; Ovonic Battery Company sold to BASF Corporation
Green Car Congress
FEBRUARY 14, 2012
51-year-old Energy Conversion Devices, Inc. OBC), to BASF Corporation for the gross purchase price of $58 million in cash before transaction fees, minority participations, and working capital and other adjustments. Ovonyx is a joint venture with its co-founder Tyler Lowrey and its shareholders include Intel Corporation.
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