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February 24, 2006JS-4071CFIUS and the Protection of the National Security in the Dubai Ports World Bid for Port OperationsHistory of the Dubai Ports World proposed acquisition of P&OAll members of the Committee on Foreign Investment in the United States (CFIUS) understand that their top priority is to protect our national security, including homeland security. On November 29 of last year, two companies publicly announced a proposed transaction: Dubai Ports World (DPW), a state-owned company located in the United Arab Emirates, proposed to acquire The Peninsular and Oriental Steam Navigation Company (P&O), a British firm that operates in a number...

Committee on Foreign Investments in the United States (CFIUS) U.S. DEPARTMENT OF TREASURYOFFICE OF THE ASSISTANT SECRETARY INTERNATIONAL AFFAIRSOFFICE OF INTERNATIONAL INVESTMENT EXON-FLORIO PROVISIONIntroduction. The United States has traditionally welcomed Foreign Direct Investment (FDI) and provided foreign investors fair, equitable and nondiscriminatory treatment with few limited exceptions designed to protect national security. The Exon-Florio provision is implemented within the context of this open investment policy. The intent of Exon-Florio is not to discourage FDI generally, but to provide a mechanism to review and, if the President finds necessary, to restrict FDI that threatens the national security.The Exon-Florio provision is...

An important U.S. high-tech manufacturer is shutting down its American operations, laying off hundreds of workers and moving sophisticated equipment now being used to make critical parts for smart bombs to the People's Republic of China (PRC), Insight has learned. Indianapolis-based Magnequench Inc. has not yet publically announced the closing of its Valparaiso, Ind., factory, but Insight has confirmed that the company will shut down this year and relocate at least some of its high-tech machine tools to Tianjin, China. Word of the shutdown comes as the company is producing critical parts for the U.S. Joint Direct Attack Munition (JDAM)...