Wednesday, April 23, 2014

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Valence Tech bouncing back after bankruptcy

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TWC News: Valence Tech bouncing back after bankruptcy
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Local battery maker Valence Technology has had a rocky road management-wise, with a seeming revolving door of CEOs.

However, Austin Business Journal Editor Colin Pope said the company may be bouncing back since filing for Chapter 11 bankruptcy a few months ago. A California lender by the name of GemCap has offered the group a $10 million loan.

All that is left is for the judge to give the go-ahead. It’s good news for the company, who luckily hasn’t scaled back production or let employees go.

Find out more in this edition of “Business Now” in the video above.

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