FOXNews.com: US government approves A123 sale to Chinese firm despite security concerns

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US government approves A123 sale to Chinese firm despite security concerns Jan 29th 2013, 18:50 Published January 29, 2013 FoxNews.com The U.S. government has approved the sale of U.S. taxpayer-backed A123 Systems to a Chinese company, despite security concerns about sensitive technology changing hands.  A representative with A123 Systems confirmed Tuesday to FoxNews.com that Wanxiang America Corp. has gotten approval from a Treasury Department agency to take over "substantially all" of the non-government business assets of the company.  "We're pleased the government has completed its review and provided us with the go-ahead to finalize this transaction," Pin Ni, president of Wanxiang America, said in a written statement.  A representative with the Treasury Department's Committee on Foreign Investment in the United States, which would have made the decision, declined to comment.

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