DÜSSELDORF (dpa-AFX) – The sale of the gas turbine business of the Volkswagen subsidiary (Volkswagen (VW) vz) MAN Energy Solutions to China is met with concerns in Berlin, according to a press report. The Federal Ministry of Economics has initiated an in-depth examination of the project, reported the “Handelsblatt” (Monday edition), citing information available to it. As an analysis by the software company Datenna shows, the Chinese buyer of the gas turbine business is Chinese state-owned and has close ties to the Chinese one Defense industry. When asked, MAN said that the technology had long been established and widespread worldwide.
The contract for the sale of the marine engine manufacturer with CSIC Longjiang GH Gas Turbine Co. was signed three months ago. The sale includes a five-year location guarantee in Oberhausen and Zurich and thus ensures the preservation of around 100 jobs there, it was said. It was agreed not to disclose financial details. MAN Energy Solutions made the decision to separate from the product area in 2020 and is focusing on solutions for decarbonization./he
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