US Charges Chinese State-Owned Firm For Corporate Espionage | Economy Watch
February 2012
According to the Wall Street Journal, the businessman....
Last month, DuPont reported earned nearly $2 billion in quarterly revenue for the unit that made the compound.
Pangang apparently wanted to use the obtained information to create a
rival 100,000-ton titanium dioxide plant at Chongqing, China.
February 2012
Prosecutors from the US Justice
Department indicted a Chinese state-owned company, along with several
other conspirators, on Wednesday, for an espionage scheme aimed at
stealing industrial secrets from chemical giant DuPont.
The indictment alleged that Pangang Group, a state-owned steel
manufacturer in Sichuan province, had planned to steal secrets on how to
manufacture titanium dioxide – a chemical used to whiten products from
paint to toothpaste – from DuPont; and had enlisted the help of several
of its subsidies along with a California businessman in order to do so.
This is
just part of a "long-running effort to obtain US trade secrets for the
benefit of companies controlled by the government of the People's
Republic of China," said a statement by the Justice Department, as
quoted by AFP, on Thursday.
”The theft of America’s trade secrets for the benefit of China and
other nations poses a substantial and continuing threat to our economic
and national security,” added US Assistant Attorney Lisa General Monaco, as reported by ABC News.
No comments:
Post a Comment