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Pangang is accused of stealing DuPont's trade secrets in the United States and faces high fines.

Pangang is accused of stealing DuPont's trade secrets in the United States and faces high fines.

February 10, 2012

[China paint information] it may be a coincidence. On the same day that the former Motorola engineer was adjudicated for stealing trade secrets, the U.S. Department of justice released an amended complaint, Disclosed that China's state-owned enterprise Pangang Group is suspected of stealing the trade secrets of DuPont, and may face high fines

on February 8, U.S. time, the above-mentioned indictment of the U.S. Department of justice disclosed that five companies and five individuals were charged. Pangang Group from China, together with Walter Liew (also known as Liu yuanxuan), a descendant of the U.S. company, and two former employees of DuPont, conspired to steal trade secrets related to titanium dioxide technology from DuPont

along with Panzhihua Iron and Steel Group, three subsidiaries of Panzhihua Iron and Steel Group, including Panzhihua vanadium and titanium, and American company USA Performance Technology Inc. In addition to Walter Liew, the above accused individuals are Christina Liew (also known as Qiao Hong), Robert maegerle, Hou Shengdong and Tze Chao. Among them, Hou Shengdong is the director of Panzhihua Iron and Steel Co., Ltd. and the deputy department director of titanium dioxide technology project after we received the customer's fault consultation call. The US Department of Justice said that an arrest warrant had been issued to the Chinese citizen

the case was tried by the San Francisco District Court of the United States, and a jury system was adopted

on the same day, Melinda Haag, the US prosecutor in San Francisco, released a statement revealing that Chinese state-owned enterprises such as Sichuan Panzhihua Iron and steel group have made "long-term efforts" to obtain US trade secrets for China. China hopes to develop the manufacturing process of chloride route titanium oxide, which is a kind of white pigment and can be used in decorative coatings, plastics and paper. "The Chinese state-owned enterprise Pangang conspired to steal the technology developed by DuPont," Melinda said

before the Chinese enterprise was sued, Liew was sued. According to the court documents on January 31, there is evidence that Liew was instructed by a Chinese official to acquire relevant technology to build a pigment manufacturing plant. Liew obtained the trade secrets through the former DuPont employees, and then they conspired to resell these secrets to Pangang Group, making millions of dollars from them

on February 1, after Liew's lawyer asked for bail, a district judge in San Francisco ordered that Liew must continue to be detained

the station of Panzhihua Iron and steel group shows that it relies on independent innovation to build a super large vanadium titanium steel enterprise group. After more than 40 years of construction and development, it has become China's largest and the world's second largest titanium processing enterprise, the largest titanium raw material and the most complete industrial chain in China, and is building China's largest titanium production base

Caixin was unable to contact Pangang Group today. The Secretary of the board of directors of its main listed company Pangang vanadium titanium () told Caixin that he did not know about it

Pangang vanadium titanium said that it had suspended trading for several consecutive days. In its announcement on February 1, it said that the company's 201 test piece was (2.0 0.2) MM1 thick, and the accounting recognition method for major asset restructuring involved in the annual performance forecast needed to be referred to relevant departments, so there was uncertainty, so the trading continued to be suspended. The announcement said that in addition, the company has not disclosed any other "major issues that may have a great impact on the share price and have not been publicly disclosed" that should be disclosed but have not been disclosed recently

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