New York (January 16th, 2013) -The nearly $257 million purchase of Waltham battery maker A123 Systems, Inc. (PINKSHEETS:AONEQ) by a Chinese conglomerate hangs on approval by a federal panel that scrutinizes foreign acquisitions of American businesses to protect national security.
The panel, known as the Committee on Foreign Investment in the United States recently has intensified its scrutiny of foreign entities — particularly those from China.
A123 Systems, Inc. designs, develops, manufactures and sells rechargeable lithium-ion and energy storage systems. In the transportation industry market, the Company works with global automotive manufacturers and tier 1 suppliers to develop batteries and battery systems for hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and electric vehicles, (EVs).
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Medical Marijuana Inc (PINKSHEETS:MJNA), escalated 5.77% to $0.138 on a traded volume of 19.84 million shares and its average volume remained 6.27 million shares. The 52-week range for the stock is $0.02 and $0.16.
According to See Change Strategy LLC (a research firm out of Olney, MD), the medical marijuana industry could grow to $8.9 billion over the next five years, while Washington State’s Office of Financial Management estimated that in-state retail sales could reach $1 billion.
Medical Marijuana Inc., is a publicly traded holding company which invests, develops and owns subsidiaries engaged in a number of diversified international businesses within the Medical Cannabis and Industrial Hemp Industries.
Find out where MJNA could be headed by getting the free full report here:
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