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Seagate to buy Solyndra manufacturing plant?

Posted on Wednesday, August 22 2012 @ 20:44:11 CEST by


HDD maker Seagate has reportedly reached an agreement to buy the Fremont, California based manufacturing plant and headquarter building of Solyndra LLC, a bankrupt thin-film solar cell manufacturer that received a controversial $535 million loan from the US government. What Seagete intends to do with the property remains unknown.
Seagate, based in Cupertino, California, could not be reached for immediate comment.

The U.S. bankruptcy court in Delaware in February approved the appointment of Chicago-based Jones Lang LaSalle to market the building, which cost more than $300 million and was completed in 2010, according to court documents.

At that time, the property was expected to fetch around $150 million. A final sale is subject to due diligence and the approval of the bankruptcy court.
Source: Yahoo News



 



 

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