Sustainability

Odyne suspends operations

Posted on January 7, 2009

Odyne Corp., developer of advanced hybrid-electric vehicle propulsion systems, announced that it will suspend operations.

Odyne retained Matrix USA LLC to explore strategic alternatives in October 2008; however, its efforts have not been successful. Therefore, after careful consideration, Odyne determined to wind-down the operations of the company, terminate substantially all of its employees, discontinue its operating leases, resolve its outstanding liabilities and liquidate its remaining assets.

 

 

 

 

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