Jul 04, 2024 03:32 AM
BUSINESS
Germany Blocks Sale of Gas Turbine Unit to State-Owned Chinese Shipbuilder
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Under the deal, announced on June 20, CSIC Longjiang GH Gas Turbine Co., Ltd. would have taken over MAN operations in Oberhausen and Zurich
(Bloomberg) — The German government has blocked the sale of a gas turbine business owned by MAN Energy Solutions SE to a state-owned Chinese shipbuilding company over national security concerns.
Under the deal, announced on June 20, CSIC Longjiang GH Gas Turbine Co., Ltd. would have taken over MAN operations in Oberhausen and Zurich to work on developing new gas-turbine product lines.
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