US Charges Chinese-Owned Firm with Industrial Espionage

Posted February 9th, 2012 at 6:20 am (UTC-5)
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U.S. authorities have accused a Chinese state-owned company of a scheme to steal trade secrets from U.S. industrial chemical maker DuPont.

Officials with the U.S. Justice Department announced Wednesday that Pangang Group had been indicted by a federal grand jury in San Francisco of economic espionage and other criminal charges. Three of the company’s subsidiaries have also been charged in the case, along with USA Performance Technology, Inc., a California-based engineering company

The indictment says Pangang and its subsidiaries contracted with USA Performance Technology to obtain information about a valuable white chemical pigment invented by DuPont and used for such products as paper, paint and plastics.

Five individuals have also been indicted in the case, including Walter Liew, a naturalized U.S. citizen from Singapore, and his wife Christina, the co-owners of USA Performance Technology, as well as two former engineers with DuPont.