While American companies have flocked to do business in China, a state-owned Chinese company on Monday did just the opposite. It bought a Gainesville company it plans to turn into the world's fourth biggest battery manufacturer. Shanghai Huayi Group paid $20-million for the assets of Moltech Power Systems Inc. which will be lifted out of a Chapter 11 bankruptcy proceeding. The new owners plan to use the deal to make a new brand of rechargeable batteries to compete with Rayovac, Energizer and Gillette in North America while bringing new technology to the Chinese consumer market. The venture is supposed to...