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Bush expected to approve Dubai acquisition

April 28, 2006

WASHINGTON (Reuters) – President George W. Bush was
expected on Friday to approve Dubai’s $1.24 billion acquisition
of Doncasters, a British engineering company with U.S. plants
that supply the Pentagon, an administration official said.

“It’s in the pipeline to be approved,” said the official,
who spoke on condition of anonymity.

Bush was expected to attach conditions to the deal to keep
military technology in the United States, the official said.

Bush’s expected decision followed a congressional uproar
over security fears that scuttled another Dubai state-owned
company’s plan to acquire operations at major U.S. ports.

Among Doncasters’ units is a plant in Georgia that is the
sole supplier of turbine fan parts for U.S. Abrams battle
tanks. The inter-agency Committee on Foreign Investments in the
United States sent its confidential recommendation on the Dubai
takeover of Doncasters to Bush on April 13.


Source: reuters



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