President sneaks Dubai company into position of national security threat
President George W. Bush reportedly approved the $1.24 billion takeover of a company that supplys the Pentagon with military components in the middle of the night and announced on Friday, April 28th.
President George W. Bush approved Dubai's $1.24 billion takeover of Doncasters, a supplier of military components to the Pentagon. The deal was reportedly signed in the middle of the night in an apparent effort to keep a low profile.
Doncasters is a British engineering company with plants in the US.
The decision, announced by White House spokesman Scott McClellan, followed a congressional uproar over security fears that scuttled another Dubai state-owned company's plan to acquire operations at major U.S. ports.
The interagency Committee on Foreign Investments in the United States sent its confidential recommendation on the Dubai takeover of Doncasters to Bush on April 13.
"The president this morning accepted the committee's recommendation," McClellan said.
McClellan further stated that the committee could not or did not find that the deal would necessarily be a comprise to national security, so in the absence of solid evidence to the contrary - the committee recommended the deal's approval.
rights reserved – Paul O. Martin – Web Producer 770.831.6795