The government has so far refused to stop China from taking Aecon, a company that was involved in some of Canada’s most historic construction products.
CCCC International Holding – a Chinese company – is closer to taking control of the historic Canadian-owned engineering company Aecon.
As reported by BNN, “Aecon says it has received a “no action” letter granting approval under the Canadian Competition Act and it has been advised by the buyer that it has approval from the National Development and Reform Commission, a Chinese economic planning regulator.”
The historic 140-year-old company has been a part of some of Canada’s most memorable construction projects including the CN Tower, the Halifax Shipyard, and the SkyTrain.
If the Chinese takeover makes it past a review under the Investment Canada Act, the company will almost certainly no longer be Canadian anymore.
Federal government must defend Canadian ownership and block the sale
Canada must not allow Aecon to be taken away from us. We must protect Canadian ownership of our large companies – particularly those companies creating real tangible things like Aecon has done.
Unfortunately, the Trudeau government has shown zero willingness to stand up for Canadian ownership, and has surrendered to China’s wishes time and time again.
As a result, it seems very unlikely that Trudeau will stop the sale, meaning another pillar of Canada’s history and our economy will be lost, and our nation will become weaker.