This one is going to get a lot of scrutiny.
*A123 expects to go public in the next three to six months
*U.S. cell manufacturing facility a 'strong consideration'
*Competition to supply batteries for Chevy Volt 'close' (Adds details on IPO, Volt contract, quotes, byline)
By Soyoung Kim
TRAVERSE CITY, Mich., Aug 15 (Reuters) - Battery maker A123 Systems expects to go public in the next three to six months through a planned $175 million initial public offering, its chief executive said on Friday.
A123, which is competing to supply next-generation lithium-ion batteries for General Motors Corp's (GM.N: Quote, Profile, Research) all-electric Chevy Volt, is "strongly considering" building a U.S. battery manufacturing facility, Chief Executive David Vieau told Reuters on the sidelines of an industry forum.
Watertown, Massachusetts-based A123 filed for an initial public offering last week to raise as much as $175 million. It had not detailed the expected timing of its market debut.
"That has to assume everything happens according to the schedule but certainly in three to six months," Vieau said when asked about the timing.
A123 plans to use the proceeds from the IPO to expand manufacturing facilities and pay off debt. Continued...