Why is a man who heads a $2.5 billion company and who has saved 3,000 American jobs drawing so much suspicion and controversy? The people who do business with him don’t understand it. But corporate rivals and some folks in Congress are raising a ruckus, nonetheless. Hints of xenophobia? China bashing? Some say it smacks of it.
Pin Ni is President of Wanxiang America Corp. Wanxiang has acquired more than two dozen mostly auto parts companies since 2004. The latest acquisition of a battery company drew darts from Washington after a rival company expressed concerned that national security would be compromised, reported Crains.
“Why are we worried about the nationality of someone who is investing in America? Why are we stereotyping?” says Robert Remenar, president and CEO of Lockport, N.Y.-based Diversified Machine Inc