TV News LIES

Monday, Mar 02nd

Last update08:49:55 AM GMT

You are here News Economy Chinese firm wins A123 despite U.S. tech transfer fears

Chinese firm wins A123 despite U.S. tech transfer fears

E-mail Print PDF

Chinese buy A123China's largest auto parts maker won U.S. government approval to buy A123 Systems Inc (AONEQ.PK), a maker of electric car batteries, despite warnings by some lawmakers that the deal would transfer sensitive technology developed with U.S. government money.

The sale of the lithium-ion battery maker to a U.S. unit of Wanxiang Group was approved by a U.S. government committee on foreign investment, according to a statement from the Chinese company.

Last month, Wanxiang's U.S. agreed to pay $257 million for A123's automotive battery business and related assets in a bankruptcy auction, beating out U.S. rival Johnson Controls Inc (JCI.N) of Milwaukee.

But the transaction still needed approval by the Committee on Foreign Investment in the United States, a government body led by the Treasury secretary. The CFIUS approved the deal on Monday night, according to Wanxiang.

More...


Most Recent Related Stories...


IRS Audits of High-Income U.S. Households Drop to 6-Year Low

tax auditThe U.S. Internal Revenue Service, struggling with a smaller budget, audited 7.5 percent of households with...

HSBC Got Away With Buying Cocaine Plane

HSBC Cocaine planeWhile the Justice Department was busy prosecuting American HSBC customers for tax evasion, it has taken...

Walmart Gives 500,000 Workers A Raise

walmartIn a move that could alter the minimum wage debate and improve the image of the...

A more robust US job market adds 257K positions as pay jumps

jobs increaseU.S. employers added a vigorous 257,000 jobs in January, and wages jumped by the most in...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!