Sany: "Forced" to Sue US President for "Selective Law Enforcement"10-18 14:53 Caijing
Sany Heavy Industry Co Ltd (600031.SH, 0631.HK) accused U.S. President Barack Obama's administration of "selective law enforcement" with Chinese companies, saying that it was acting out of desperation to sue the president.
Ralls Corp., an affiliate to the country's biggest machinery maker, was banned by the U.S. government from constructing four wind-arm projects in Oregon, citing national security concerns.
Only a lawsuit can solve the problem because it was the president who signed the executive order, Sany president Xiang Wenbo told a press conference in Beijing.
"Sany just made a normal investment in the United States under federal law, without posing any security threats," he said, "We are forced to sue Obama to protect our rights."
Wu Jialing, CEO of Ralls Corp., and vice president of Sany warned at the conference Washington could lose tens of thousands of jobs if the case is not "handled well", while if Sany wins the case, it will be a victory for the rule of law in the United States.
"Washington blocked the projects without giving any facts in evidence," Wu said, adding he was confused about President Obama's decision.
"One of the important terms in U.S. legal system is the presumption of innocence," he said, "But why the presumption of guilt when it comes to Chinese companies?"
Sany demanded compensation from the U.S. government for over 20 million U.S. dollars in direct losses according to the company.
If we lost the lawsuit without any compensation, our confident in Washington will fall sharply and Sany may not consider any investments in the U.S. in future, Xiang warned.
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