Construction Group Warns Against Aecon Sale to Chinese State-owned Enterprise

The Canadian Construction Association is urging the Government of Canada to block the C$1.5-billion sale of China Communications Construction Co's (CCCC) takeover of Aecon, a Toronto-based construction company. The federal government is reviewing whether this deal will bring 'net benefit' to Canada, which is the benchmark for assessing foreign takeovers. The Association cited concerns about unfair competition brought by CCCC, a Chinese state-owned enterprise, which could drive down wages, as well as potential political influence from Beijing. Jack Mintz, the director of the School of Public Policy at the University of Calgary, also noted that state-owned firms tend to be very inefficient and that the risks associated with the deal outweigh potential benefits.

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