Sany says Obama ban 'political'
By Richard Fu |
October 19, 2012, Friday
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Print Edition
Print Edition
SANY Group Co, which is suing Barack Obama for banning its plan to build wind farms in Oregon, said the US president's move is a political stunt and could deter Chinese investment in America.
Obama barred Ralls Corp, a Sany associate, from building four wind farms close to a navy base last month, after the Committee on Foreign Investment in the US concluded the projects posed a security threat. The order is the first transaction blocked by a US president on national security grounds in 22 years.
Sany has denied the allegations, saying the investment committee and Obama blocked the projects without giving any facts in evidence.
Sany, China's largest construction machinery maker, last month filed a lawsuit against the US government challenging the ruling in a district court in Washington, DC, and added Obama as a defendant earlier this month.
"The whole event is a political show, and bureaucratic nonsense," Wu Jialiang, a deputy vice president of Sany and CEO of Ralls, said at a press conference in Beijing yesterday.
Ralls was seeking to install Sany-made wind turbines after purchasing the four wind farm projects from a Greek firm in Oregon earlier this year, when the development was already approved. Wu said the US ban would result in a direct loss of about US$20 million for Ralls and the company is seeking other projects for turbines already shipped to the US.
Wu said although the case is relatively small, it means a lot to Chinese investors who are looking forward to investing in the US and also to millions of investors around the globe, adding Sany has full faith in the US legal system and in winning the suit.
Whatever the outcome, Sany hopes the suit will set an example of using the courts to solve such disputes involving discrimination against Chinese companies.
Xiang Wenbo, a Sany board director, said the company had agreed to relocate or transfer the assets when the US raised the objections, but it hadn't been allowed to do so.
Also, unreasonably, US authorities seized Sany's private assets and banned the entry of Chinese to the sites based on their unfair conclusions, exceeding their authority, Xiang said.
"We are forced to be high-profile because everyone knows it's US President Obama who signed this order," Xiang said.
"I don't really know and understand what signal President Obama wants to send to the world," Mei Xinyu, a researcher with the Ministry of Commerce, said at the conference. "Maybe his signal is 'Come to invest in the US, where you will end up pantless and penniless.' "
Obama barred Ralls Corp, a Sany associate, from building four wind farms close to a navy base last month, after the Committee on Foreign Investment in the US concluded the projects posed a security threat. The order is the first transaction blocked by a US president on national security grounds in 22 years.
Sany has denied the allegations, saying the investment committee and Obama blocked the projects without giving any facts in evidence.
Sany, China's largest construction machinery maker, last month filed a lawsuit against the US government challenging the ruling in a district court in Washington, DC, and added Obama as a defendant earlier this month.
"The whole event is a political show, and bureaucratic nonsense," Wu Jialiang, a deputy vice president of Sany and CEO of Ralls, said at a press conference in Beijing yesterday.
Ralls was seeking to install Sany-made wind turbines after purchasing the four wind farm projects from a Greek firm in Oregon earlier this year, when the development was already approved. Wu said the US ban would result in a direct loss of about US$20 million for Ralls and the company is seeking other projects for turbines already shipped to the US.
Wu said although the case is relatively small, it means a lot to Chinese investors who are looking forward to investing in the US and also to millions of investors around the globe, adding Sany has full faith in the US legal system and in winning the suit.
Whatever the outcome, Sany hopes the suit will set an example of using the courts to solve such disputes involving discrimination against Chinese companies.
Xiang Wenbo, a Sany board director, said the company had agreed to relocate or transfer the assets when the US raised the objections, but it hadn't been allowed to do so.
Also, unreasonably, US authorities seized Sany's private assets and banned the entry of Chinese to the sites based on their unfair conclusions, exceeding their authority, Xiang said.
"We are forced to be high-profile because everyone knows it's US President Obama who signed this order," Xiang said.
"I don't really know and understand what signal President Obama wants to send to the world," Mei Xinyu, a researcher with the Ministry of Commerce, said at the conference. "Maybe his signal is 'Come to invest in the US, where you will end up pantless and penniless.' "
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