Rep. Duncan Hunter (R., Calif.) wrote to Treasury Secretary Jacob Lew urging for scrutiny over an unsolicited takeover bid from a Chinese company to manufacture U.S. military equipment.
"It has come to my attention that Terex Corporation, an American Company that manufactures heavy equipment, including cranes for the Army, Navy, and other government agencies, has received an unsolicited takeover bid from Zoomlion Heavy Industry, a Chinese Government Owned Company that is a longtime supplier of the People’s Liberation Army," said Duncan.
"While it is my understanding that Terex and Zoomlion have yet to finalize the terms of a deal, the fact that a leading [People’s Liberation Army] supplier is seeking to purchase an American company that provides critical infrastructure equipment to a number of government agencies, including the Department of Defense and the Department of Homeland Security, demands that the agreement undergo through scrutiny if it does materialize," he said.
"I have great deal of concern about the implications this possible takeover oculd have on our national security," Duncan wrote. "And I will continue to carefully monitor this issue as it progressed."
