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Analyst: A123 may lack fundraising ability after defects

By Bloomberg News

 |   

  March 28, 2012

Waltham-based A123 Systems Inc. may be unable to raise capital and could lose contracts as a result of the battery maker’s recall of defective packs sent to customers, a Deutsche Bank analyst said. The $55 million that A123 estimates it will cost to replace the flawed battery packs and modules “represents a severe impact” on cash reserves, wrote Dan Galves, a New York-based analyst at Deutsche Bank.

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