A123 Systems appoints Brad Frederick as CFO

New appointment positions A123 for further profitable growth

February 3, 2015  09:00AM Eastern Standard Time

Livonia, Mich. – A123 Systems LLC,a developer and manufacturer of advanced lithium-ion batteries and systems, announced today that Brad Frederick has joined the company as its Chief Financial Officer. Brad’s experience in the automotive industry at several Tier 1 suppliers has spanned 20 years and he brings an extensive knowledge in both growth initiatives and cost reductions. His comprehensive expertise in organic and acquisitive growth, as well as deal financing and restructuring activities, will drive further progress in A123’s quickly improving financial performance.

Over the past 4 years, Brad has served as the Chief Financial Officer of Chassix, Inc and Acument Global Technologies, Inc., two automotive suppliers with a common private owner. His prior background includes similar roles at L&W Engineering, Plastech Engineered Products, LDM Technologies as well as an audit focused tenure at Ernst & Young. Brad is a Certified Public Accountant and graduate of Bowling Green State University.

A123 Systems is well prepared to build on the foundation of 2014’s financial results which were the best in company history, both in terms of revenue and profitability. With a significant capital investment program, A123 looks to expand production capacity in order to meet increasing demand. In addition to boosting the scope of production, A123 is actively diversifying its technology and product portfolio while investigating further business opportunities through acquisitions and strategic partnerships. The company projects organic revenue growth of as much as 50% this year resulting from deeper relationships with existing customers as well as newly developed accounts.

About A123

A123 Systems is a global leader in providing complete energy storage solutions through advanced battery cells and systems for transportation and commercial applications, offering performance, reliability, and cost savings from concept through commercialization. A123 is a wholly owned subsidiary of the Wanxiang Group.

Contact:

Paulette Spagnuolo, Marketing & Communications Manager
734.772.0467
pspagnuolo@a123systems.com