IAM Raises Red Flags over Hawker Sale
July 17, 2012
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The IAM is calling on members of Congress to put the brakes on the proposed sale of Hawker Beechcraft to a little-known Chinese company, Superior Aviation Beijing Co., Ltd. (Superior).
In a filing with the U.S. Bankruptcy Court this week, 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.
