German-Based Siemens and Chromalloy (US) Invest in New Joint Venture
German-based Siemens and Chromalloy announced their joint venture in Tampa, FL.
WASHINGTON – Nancy McLernon, president and CEO of the Organization for International Investment (OFII), issued the following statement in support of the proposed Senate Banking Committee and House Financial Services Committee managers’ amendments to the Foreign Investment Risk Review Modernization Act (FIRRMA):
“I applaud Senators Cornyn, Feinstein and Crapo, as well as Representatives Pittenger, Hensarling, and Barr, and all cosponsors of FIRRMA, for safeguarding national security while also preserving America’s economic competitiveness for foreign direct investment. Striking this balance is not an easy task, but the proposed managers’ amendments achieve that outcome by providing greater clarity and a more focused approach to ensuring our nation’s adversaries do not exploit of our economic openness. I urge Congress to approve these amendments and quickly finalize this important legislation.”
Background on How International Companies Benefit the U.S. Economy
Representing the U.S. operations of many of the world's leading international companies, OFII ensures that policymakers at the federal, state and local level understand the critical role that foreign direct investment (FDI) plays in America’s economy. OFII advocates for fair, non-discriminatory treatment of foreign-based companies and promotes policies that will encourage them to establish U.S. operations, which in turn increases American employment and U.S. economic growth. For more information, please visit www.OFII.org.
FOR IMMEDIATE RELEASE – May 18, 2018
CONTACT – Jonathan Samford, 202.659.1903