Sale of Tipton plant to solar company delayed

A solar panel manufacturer's deal to take over an unfinished factory in central Indiana has been delayed, although the company doesn't expect changes in its plans.

Abound Solar spokesman Mark Chen says it is awaiting final approval of $400 million in federal loan guarantees for plants in Tipton, Ind., and Longmont, Colo. President Barack Obama in July announced the loans for the Colorado-based company.

The sale of what was to be a transmission factory for Chrysler supplier Getrag to a property management company had previously been scheduled to close Tuesday. Tipton County Commissioner Jane Harper told the Kokomo Tribune that the sale is now tentatively set to close by Dec. 16.

Chen says it will be at least late 2011 before Abound starts hiring for up to 850 jobs.

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