Ballard terminates two fuel-cell license agreements with Azure in China; will not hit 2014 revenue and EBITDA targets
Green Car Congress
JANUARY 2, 2015
Ballard said that as a result of Azure’s breaches under both contracts, and despite its good faith efforts to reach a settlement, Ballard terminated both contracts and will consider its legal remedies. The Company will not book any revenue under these contracts in 2014 Q4 and expects to record an impairment of approximately $4.5
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