Platinum Equity sold off Peerless (the transmission division of Tecumseh Power) to Husqvarna. The bones of the engine division were sold to CPC of Janesville,WI who will support service parts. Warranty is also still supported. It's extremely unlikely they could resume production again.
If they did resume production, where do you think it would be? I'd say it starts with a "C" and ends with an "A". And it isn't Canada.
All kidding aside, I'd venture to say Tecumseh is done. The Chinese are already filling the hole on many products that had once used Tecumseh engines. Briggs and Stratton had better take heed.