This story is almost unthinkable. Terex is a huge company. Over 20,000 employees world-wide. Maker of all kinds of heavy equipment. If you see a road or bridge being built, Terex equipment is probably there. But more importantly, military equipment. Slowly but surely we are selling out our manufacturing capability. We already are giving away our refineries. Try U.S. giving away ownership and control of our Energy and refineries. or Clintons and the give away of U.S. Uranium mines or Millions Flowed To Clinton Foundation In Exchange For Russian Control Over Large Portion Of U.S. Uranium. How much did the Chinese give to the Clinton Foundation to try a gain control of Terex? No doubt this was in the works for some time.
Throughout its maturation, GM’s Terex Division created some of the industry’s most notable heavy construction equipment, including the world’s first off-road hauler (1Z Trac-Truk), the world’s first twin-powered dozer (TC-12) and the world’s largest truck, the Terex 33-19 “Titan,” produced in the 1970s.
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. H/T:Free Beacon