“EPS Engineered Propulsion Systems, LLC” Formed By Chinese And Other Interests Intent On Taking Possession
Engineered Propulsion Systems, Inc, of New Richmond, Wisconsin, has filed for Chapter 11 bankruptcy protection. The company undertook this development of its own initiative via their debtor’s attorney, James D. Sweet of Steinhilber Swanson LLP. The EPS Diesel engine program had been getting serious attention from civilian and military parties while the company reportedly spent some $60 million in private investment dollars to seek a working production version and eventual certification.
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