Fergie's Tech Blog

Bush Backs Plan For Dubai Firm To Take Control of Military Equipment Plant Operations

An AP newswire article, via The Washington Post, reports that:

President Bush on Friday approved a deal for a Dubai-owned company to take control of some U.S. plants that manufacture parts for American military contractors.

"This was a transaction that was thoroughly reviewed and closely scrutinized," White House press secretary Scott McClellan said in confirming the deal. "In the view of the committee, it does not compromise our national security."

As a condition of the president's approval, the company signed an agreement that promised an uninterrupted supply, McClellan said. The White House was in the process of informing key members of Congress of the president's decision.

posted by Fergie @ 4/28/2006 08:22:00 AM