UAE to buy British firm that runs US military facilities

[Grimmlok]

ROFLMAO, this is just getting more and more hilarious... first, they'll get control of the ports.. then control of military facilities...is this not raising ANY red flags? *giggles*

WASHINGTON — The United Arab Emirates intends to operate U.S. military factories.

The Bush administration has informed Congress of a review of the UAE acquisition of a British manufacturer of engine components for U.S. military aircraft and main battle tanks. The British firm operates nine factories, including military production facilities in Connecticut and Georgia.

Officials said Dubai International Capital has acquired the London-based Doncasters Group for $1.2 billion. Doncasters produces engine components and turbine blades for military platforms, and its clients include Boeing, General Electric, Honeywell and Pratt and Whitney.
"It's a standard business deal by a consortium that seeks opportunities," an official said. "But it also fits in well with Dubai's plans to create an aerospace industry."

The Committee on Foreign Investment in the United States completed a standard 30-day review and last week decided to extend the investigation for another 45 days. Dubai International is part of Dubai Holding, the third-largest shareholder in DaimlerChrysler.

The latest reviews by CFIUS came amid sharp opposition in Congress to the panel's decision to approve the UAE takeover of operations of six U.S. ports. In January, CFIUS approved the $6.8 billion takeover of Dubai Port World of a British company that has long operated the American ports.

Congressional sources said the Senate Banking Committee was informed of the CFIUS investigation of Dubai International on Feb. 27. The committee was also informed that the Treasury panel has ordered a 45-day review of a proposed Israeli takeover of a U.S. contractor for the American intelligence community.

On Thursday, Deputy Treasury Secretary Robert Kimmitt said the additional review of Dubai International stemmed from what he termed unresolved security questions. He would not elaborate.

Officials acknowledged that CFIUS has reduced security reviews of foreign companies that aim to establish a presence in the United States. In 2005, 65 foreign companies were investigated, compared to 204 in 1989.

"We clearly have to do some things inside the departments, and we clearly have to do quite a bit in finding ways to provide you more promptly with the information you need," Kimmitt told the Senate Banking Committee.

Officials identified the Israeli suitor as Check Point Software Technologies, a company traded in Israel and the United States. Check Point has offered $228 million for the Maryland-based firm Sourcefire, which supplies security software for the Defense Department and intelligence agencies.

"Check Point and Sourcefire are both committed to working cooperatively with the committee during the investigative period," Check Point said in a statement.

Earlier this week, Congress was informed that CFIUS would undertake an additional 45-day review of Dubai Port World. The first review lasted for the standard 30 days.

"Dubai cannot be trusted," House Armed Services Committee chairman Rep. Duncan Hunter said. "I intend to do everything I can to kill the deal."