Article 43

 

Bush To Approve Dubai Deal To Run Arms Plants

By Jim Rutenberg and David E. Sanger
New York Times
April 27, 2006

WASHINGTON - President Bush is expected to announce today his approval of a deal under which a Dubai-owned company would take control of nine plants in the United States that manufacture parts for U.S. military vehicles and aircraft, say two administration officials familiar with the deal.

The officials, who were granted anonymity so they could speak freely about something the president had not yet announced, said that the final details had not yet been set and that Bush might put conditions on the transaction.

But his action is almost certain to attract scrutiny in Congress, because of the political furor that erupted over the administration’s approval of a deal earlier this spring that would have given another Dubai-owned company, Dubai Ports World, leases to operate several American port terminals.

Dubai Ports agreed to drop the deal after it became clear that Republicans were abandoning Bush and opposing the takeover.

In this case, the plants in question are owned by Doncasters Group Ltd., a British company that is being purchased by Dubai International Capital, which is owned by the United Arab Emirate government.

Because the plants make turbine blades for tank and aircraft engines, the deal was reviewed by the Committee on Foreign Investment in the United States, which sent it on to the president for a decision, a step used only when the potential security risks or political considerations are particularly acute.

Rep. Peter King, R-N.Y., the chairman of the House Committee on Homeland Security and one of the foremost critics of the ports deal, said on Thursday that he would not necessarily have a problem this time around, in large part because the White House had given the deal a thorough review.

SOURCE

Posted by Elvis on 04/28/06 •
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