A significant factor in China's progress comes as a result of the 2015 acquisition of Henniges Automotive, a Michigan company whose anti-vibration technology is used on the F-35 fighter, by Aviation Industry Corp of China, the state-owned entity that produces fighter jets for the Chinese military.
Guess whose company partnered with AVIC in that acquisition? That's right - Hunter Biden, Devon Archer, and Chris Heinz's BHR. As a refresher: BHR is a Chinese venture capital firm in which Rosemont Seneca Thornton owned a 30 percent stake, and which is majority-owned and controlled by the state-owned Bank of China.
For the 2015 transaction a wholly-owned subsidiary of AVIC, AVIC Auto, partnered with BHR to acquire Henniges, with AVIC Auto owning 51 percent and BHR owning 49 percent - meaning that the Chinese government-owned military manufacturer ended up with a controlling interest in Henniges.
By acquiring Henniges and their anti-vibration technology, AVIC could put that technology directly to use in the Chinese military jets.
Military aviation experts have noted that the latest Chinese fighter, the J-31, is strikingly similar to the F-35 - likely because the Chinese had the benefit of hacked data and their acquisition of Henniges' anti-vibration technology.
The approval process should have taken into consideration the history of both BHR and AVIC and could have gone up to President Obama for final approval.
Internal BHR documents show exactly how the Chinese military contractor was able to disguise its ownership via shell corporations and formed a joint-venture with the son of the vice president to facilitate the Chinese takeover of an American dual-use technology supplier.
No comments:
Post a Comment