Byline: James Denn Business writer
Nearly six months after being forced to lay off most of its workers, a high-technology company last week found a financial guardian angel.
Atantic Energy Inc. of Pleasantville, N.J., said it was acquiring a 50 percent interest in Troy's Geotech Energy Conversion Corp.
The move by Atlantic - a $705 million electric-utility holding company - came at a good time for Geotech, which last October was forced to lay off 60 percent of its work force.
Officials expect the investment in the 8-year-old company, announced Friday, to be completed in two months. It is subject to the conclusion of a study of the firm's …
No comments:
Post a Comment