nanotimes Companies Facts
Filtrete Brand from 3M, known for its air filtrati- on products for heating and cooling systems, is introducing a new line of do-it-yourself, plumbed-in Filtrete Water Filtration Products. There are three different types of Filtrete Water Filtration installation systems, including Drinking Water Systems used with Existing or Dedicated Faucets, High Performance and Sump Style Whole House Systems, and Universal In-Line Refrigerator Filters. The new plumbed-in systems are currently available at Walmart stores nationwide and can also be purchased online. Filtrete replacement filters and other accessories are also available. http://FiltreteWater.com
3M also introduced an innovative new coating for photovoltaic (PV) modules and concentrated solar power (CSP) mirrors at Solar Power International. 3M™ Anti-Soiling Liquid is an easy-to-apply coating designed for aftermarket use that helps solar modules stay cleaner, longer. The Company also announced that WIELAND Dental + Technik GmbH & Co. entered a licensing agreement with 3M for use of 3M‘s processed zirconia coloring technology.
3M reported record third-quarter earnings of $1.65 per share, an increase of 8.6% versus the third quarter of 2011. Operating income was $1.7 billion and operating income margins for the quarter were 22.4%. Third-quarter net income was $1.2 billion and earnings were $1.65 per share. http://www.3M.com
On October 16, 2012, A123 Systems, Inc. has entered into an asset purchase agreement with Johnson Controls, Inc., which plans to acquire A123’s automotive business assets, including all of its automotive technology, products and customer contracts, its facilities in Livonia and Romulus, Mich., its cathode powder manufacturing facilities in China, and A123‘s equity interest in Shanghai Advanced Traction Battery Systems Co., Alpha’s joint venture with Shanghai Automotive. The asset purchase agree- ment also includes provisions through which Johnson Controls intends to license back to A123 certain technology for its grid, commercial and government businesses. A123 also continues to engage in active discussions regarding strategic alternatives for its grid, commercial, government and other operations, and has received several indications of interest for these businesses.
To facilitate the transaction process, A123 and all of its US subsidiaries have filed voluntary peti- tions for reorganization under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the District of Delaware. A123’s non-US subsidiaries were not included in the filing. This action is expected to allow A123 to provide for an orderly sale of its automotive business assets and all other assets and business units under Section 363 of the Bankruptcy Code and help maximize the value of its assets for its stakeholders.