IAM Challenges Fast Track HBC Sale To Chinese Company | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 03.02.15

Airborne 03.03.15

Airborne 03.04.15

Airborne 03.05.15

Airborne 02.27.15

Airborne Hi-Def On YouTube

Airborne 03.02.15

Airborne 03.03.15

Airborne 03.04.15

Airborne 03.05.15

Airborne 02.27.15

Wed, Jul 18, 2012

IAM Challenges Fast Track HBC Sale To Chinese Company

Buffenbarger: 'The Sale Should Not Be Rushed Through'

The International Association of Machinists and Aerospace Workers (IAM) today filed papers in U.S. Bankruptcy Court opposing an attempt by Hawker Beechcraft, Inc., to expedite the sale of its assets to a little-known Chinese company, Superior Aviation Beijing Co., Ltd. (Superior).

“The proposed sale of Hawker Beechcraft to a Chinese government-backed entity has broad implications for the U.S. economy and national security,” said IAM International President Tom Buffenbarger. “The sale should not be rushed through without adequate scrutiny by all interested parties, including federal regulators, state officials and the Wichita community. As the necessary review process has not yet commenced, giving Superior the exclusive right to negotiate the purchase of Hawker at this time is premature.”

In its court filing, the IAM expressed serious concern that the sale could facilitate the transfer of valuable commercial and military-related technology to China, leading to the loss of high-skilled, high-paying aerospace jobs while compromising U.S. national security interests. “While Superior claims that it does not intend to purchase or control Hawker’s defense-related businesses, Superior would retain an interest in the defense businesses and would be entitled to receive proceeds from the eventual sale of those businesses,” said Buffenbarger. “Such terms and conditions warrant the most serious scrutiny from members of Congress and the appropriate intelligence agencies.”

The proposed Hawker-Superior sale agreement also requires the termination of all three of Hawker’s defined benefit pension plans, including the one for more than 3,500 IAM-represented members employed at Hawker Beechcraft. “The prospect of lost pension benefits for Hawker’s workers, while China’s aerospace industry benefits from the transfer of valuable U.S. technology is simply outrageous,” said IAM Aerospace Coordinator Ron Eldridge.

FMI: www.goiam.org

Advertisement

More News

Garmin Pilot Optimizes Charts For Helicopter Operators

Eight Major Metro Areas, Gulf Of Mexico Included In First Release Garmin is rolling out a new version of Garmin Pilot for iOS, which adds a suite of features tailored to helicopter>[...]

Airborne 03.04.15: Airbus' NEW H160, Robinson Buys 1000 RR300s, NEW Bell 407GXP

Also: Inverted Flat Spin Record, Belite Aircraft Reinvents the Cub, Aspen Evolution In Demand, Screamin’ Sasquatch, New Elite HeliSim, JetBlue Pilot Update Airbus showed off >[...]

Airborne 03.03.15: AW189 Certified, Honeywell Heli Forecast, HondaJet Sim

Also: NBAA Likes PBOR II, Wipaire Viking Endorsement, R44 Update, PW Engine Ctr, Twirly Birds Its going to be a great week for rotorcraft as HAI gets it start in Orlando, Florida..>[...]

Airborne 03.03.15: AW189 Certified, Honeywell Heli Forecast, HondaJet Sim

Also: NBAA Likes PBOR II, Wipaire Viking Endorsement, R44 Update, PW Engine Ctr, Twirly Birds Its going to be a great week for rotorcraft as HAI gets it start in Orlando, Florida..>[...]

Airborne 03.04.15: Airbus' NEW H160, Robinson Buys 1000 RR300s, NEW Bell 407GXP

Also: Inverted Flat Spin Record, Belite Aircraft Reinvents the Cub, Aspen Evolution In Demand, Screamin’ Sasquatch, New Elite HeliSim, JetBlue Pilot Update Airbus showed off >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC