Hawker Beechcraft’s Proposed Acquisition Sparks Controversy
Is China buying a US aircraft maker?
Superior Aviation Beijing is looking to acquire the US-based Hawker Beechcraft.
And it's raising concerns because not only does Hawker Beechcraft make private aircrafts, it has a military division.
And the Beijing municipality owns 40% of Superior Aviation.
Hawker Beechcraft is looking to sell fast. In May it filed for Chapter 11 bankruptcy. And it says it won't be selling its military division--only its nonmilitary equipment--in the $1.8 billion deal.
It raises the possibility of moving thousands of jobs to China, and whether China's market can sustain a company like Hawker Beechcraft selling only its private aircraft.
The proposed deal still needs to be approved by the US Committee on Foreign Investment.