Dueco Aquires Odyne PHEV Assets

The acquisition will allow Dueco to accelerate development and deployment of proprietary new hybrid technology for segments of the truck market.

Published: 23-Jan-2009

An affiliate of Dueco Inc. and its parent company, Utility Equipment Leasing Corp., have acquired the assets of Odyne Corp., a Hauppauge, N.Y., manufacturer of propulsion systems for advanced plug-in hybrid electric vehicles.

Odyne suspended operations earlier this month.

Terms of the transaction, which closed Jan. 20, were not disclosed.

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