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Mon Dec 10, 2012, 09:13 AM

China Nabs Airplanes and Batteries in Latest U.S. Shopping

Source: Business Week

M&A
China Nabs Airplanes and Batteries in Latest U.S. Shopping
By Dexter Roberts on December 10, 2012

China’s U.S. shopping spree continues.

On December 9, Chinese auto parts and technology company Wanxiang Group won a bankruptcy auction to acquire lithium-ion battery-maker A123 Systems for $256.6 million, beating out competing bids by Johnson Controls, Siemens AG (SI), and NEC. And on December 10, a consortium of Chinese financial firms agreed to purchase AIG’s aviation-leasing business for $4.26 billion, setting a new record for the value of a single U.S. deal by a Chinese acquirer.

The Wanxiang win follows an earlier unsuccessful bid that foundered in August over U.S. Congressional national security concerns, and was followed by A123’s bankruptcy filing on Oct. 16. The Waltham (Mass.)-based company had supplied its automotive batteries to the U.S. military and had also secured a $249 million federal grant to build factories in the U.S.—both issues raised by U.S. congressional members at the time. Separately, a congressional report released Oct. 8 alleged that China’s two largest telecom equipment manufacturers, Huawei Technologies and ZTE, are a security threat and should be blocked from acquiring U.S. companies.
....

Wanxiang has already invested in some two-dozen ailing factories, mainly in the Midwest, and has recently been putting money into clean tech. In May, it closed a deal to invest $1.25 billion in Great Point Energy, a company in Cambridge, Mass., that converts coal to natural gas. The U.S. is a “gold mine” of opportunities for Wanxiang, Pin Ni, the head of U.S. operations and president Wanxiang America, told Bloomberg Businessweek in October. “Any Chinese company that wants to be a global company can’t miss out on the U.S. market.”

These latest deals could cap a record-setting year with Chinese companies spending more than $8 billion to acquire American companies, up almost 50 percent from 2011. Chinese investment has flowed into at least 37 states and most major cities and is diversifying beyond the big energy asset purchases that have defined it in the past, according to Thilo Hanemann, research director at Rhodium Group, a China-focused consultant. Now also popular: entertainment, aluminum production, and financial services, with Chinese companies already supporting close to 30,000 jobs in the U.S. (Not that energy deals are no longer happening: Sinopec is spending $2.5 billion purchasing oil and gas assets of Devon Energy (DVN), for example.)


Read more: http://www.businessweek.com/articles/2012-12-10/china-nabs-airplanes-and-batteries-in-latest-u-dot-s-dot-shopping



We have sold our heritage for a mess of pottage.

For other translations of that passage, go to this excellent site: http://bible.cc/genesis/25-29.htm

14 replies, 2409 views

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Arrow 14 replies Author Time Post
Reply China Nabs Airplanes and Batteries in Latest U.S. Shopping (Original post)
mahatmakanejeeves Dec 2012 OP
heaven05 Dec 2012 #1
RC Dec 2012 #2
heaven05 Dec 2012 #7
Markus Che Dec 2012 #3
mahatmakanejeeves Dec 2012 #4
hrmjustin Dec 2012 #9
JDPriestly Dec 2012 #5
Major Nikon Dec 2012 #10
JDPriestly Dec 2012 #13
Plucketeer Dec 2012 #6
lib2DaBone Dec 2012 #8
William Seger Dec 2012 #11
Blackhawk44 Dec 2012 #12
Franker65 Dec 2012 #14

Response to mahatmakanejeeves (Original post)

Mon Dec 10, 2012, 09:25 AM

1. america sold!!!!!

to the highest bidder. how much of the world/resources and it's companies does china/chinese corporations/businesses own? way to lose that preeminence america.

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Response to heaven05 (Reply #1)

Mon Dec 10, 2012, 10:05 AM

2. Look at the bright side.

 

If China owns and controls all the companies that makes the basic parts for our war toys, maybe they can stop our Middle East aggression. What could go wrong? Worse case, we all learn Chinese, right? Right? Why you looking at me like that?







----------------> <------------------------
----------Just in case ^------------------------------

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Response to RC (Reply #2)

Mon Dec 10, 2012, 11:36 AM

7. lol

but seriously.....I don't do well with languages.

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Response to mahatmakanejeeves (Original post)

Mon Dec 10, 2012, 10:21 AM

3. These batteries were just featured in Scientific American

A recent innovation in these Lithium ion batteries (A123) enable them to store 30% more energy and charge faster in cold weather. This may finally be the break through in energy storage for hybrid and electric cars to become more practical. To bad we sold it.

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Response to Markus Che (Reply #3)

Mon Dec 10, 2012, 10:36 AM

4. Thank you for writing, and welcome to DU.

I am honored to have your first post at DU be a response to a thread I started.

Best wishes.

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Response to Markus Che (Reply #3)

Mon Dec 10, 2012, 02:36 PM

9. Welcome to DU and I hope you enjoy the site.

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Response to mahatmakanejeeves (Original post)

Mon Dec 10, 2012, 10:49 AM

5. We buy the trinkets the Chinese ship to us.

They buy our real estate.

Sounds like the Chinese are the Pilgrims this time.

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Response to JDPriestly (Reply #5)

Mon Dec 10, 2012, 09:14 PM

10. I used to hear the same thing about Saudi Arabia

They send tankers full of oil to the US, we send them tankers full of money. The Chinese send container ships full of consumer goods, we send them back full of money. It shouldn't come as a surprise when they invest that money back here.

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Response to Major Nikon (Reply #10)

Tue Dec 11, 2012, 05:57 PM

13. I suspect that China will regret its investments in the US just as Japan did.

The new 3-D copy machines will be able to make a lot of the plastic junk that China is sending our way with very low labor costs and with more control for the design and manufacture of the products here in the US.

The 3-D copy machines are still being developed, and will be very, very expensive (at least at first), but they are going to be able to produce many of the plastic items that China now produces.

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Response to mahatmakanejeeves (Original post)

Mon Dec 10, 2012, 11:33 AM

6. Is it sad?

Sure. But we're talking about two MAJOR producers of airborne carbon. Two who persistently thumb their noses at the world community. The Chinese "investments" here, may mean NADA in short order. There'll be a much bigger and consequential threat that may already be beyond the point of no return. We're on course to get our just rewards for NOT wresting away control (from the forces of MONEY) of DC when we could have.

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Response to mahatmakanejeeves (Original post)

Mon Dec 10, 2012, 01:25 PM

8. We buy trinkets and cheap junk they ship to us....

 

They buy aircraft carriers... fighter jets, deep water oil ports, agricultural land and fresh water supplies.


We spend our precious tax dollars on endless wars in Lybia and Iraq.... China grabs oil.



BEIJING, March 1 (Reuters) - China's top two state oil firms have agreed to lift a total of about 140,000 barrels of crude oil per day from Libya under term deals for 2012, set to raise China's crude purchases from the North African exporter after supply disruptions last year.

State trader Unipec, the trading arm of top Asian refiner China Petroleum & Chemical Corp (Sinopec) , would lift about 100,000 bpd from Libya, while Chinaoil, trading department of PetroChina, would buy another 40,000 bpd, traders with knowledge of the deals told Reuters.

http://www.reuters.com/article/2012/03/01/china-libya-oil-idUSL4E8E113820120301

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Response to mahatmakanejeeves (Original post)

Mon Dec 10, 2012, 09:30 PM

11. Proving that the American "job creators" the GOP is so concerned about...

...will gamble billions in the Wall Street Casino but won't invest millions in American manufacturing.

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Response to mahatmakanejeeves (Original post)

Tue Dec 11, 2012, 12:32 AM

12. airlines... bad industry to invest in .nt

 

nt

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Response to mahatmakanejeeves (Original post)

Thu Dec 13, 2012, 05:48 AM

14. Well considering the amount of money they have, they might as well invest in the US

And if you look at the other side of the coin, statistics show that the United States is investing heavily in China, and has done so for the past decade. The extent of China's investment in the US comes as little surprise.

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