Companies often make like pufferfish, announcing alliances and partnerships in a bid to garner attention and look larger. Sometimes... even to sell more!
So it was unusual to come across word of a company terminating one of its joint ventures. (Aim. Squeeze. Blammo!)
Seems things didn't quite go as planned for industrial emissions control systems vendor MPM Technologies of New Jersey and its joint venture with Sunic Corp., a Chicago based U.S. company. A company in China established by the joint venture is in the process of being dissolved.
MPM blames Sunic and its owner, Tian-yu Xiong’s "numerous breaches of the Joint Venture Agreement and infringements of AirPol trademark and technology rights." Too bad.
AirPol has demanded Sunic’s other China subsidiaries, including Sunic-AirPol Environmental Equipment (Shanghai) Co., immediately stop using its trademarks and proprietary technologies.
Submitted by Dana Childs on January 15, 2007 - 9:05pm.
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