Homeland Security Conducts Raids on Fuyao Glass Plant and Multiple Ohio Locations Owned by China, Investigating Financial and Labor Violations
The U.S. Homeland Security and other agencies raided the world’s biggest auto glass maker—China’s Fuyao glass factory in Ohio on July 26.
Hundreds of special agents from Homeland Security, Internal Revenue Service Criminal Investigations Division, and the Federal Bureau of Investigations searched the Fuyao factory in Moraine and 27 other locations in the Dayton area in Ohio.
U.S. Homeland Security stated the reason for the operation was “allegations of financial crimes and labor exploitation,” adding the investigation is active and ongoing.
On July 26, Fuyao Glass Group closed at 47.26 yuan per share, down 0.71 percent.
Fuyao Group was established in Fuzhou, China in 1987. It produces automotive safety glass and industrial technical glass. Fuyao Glass (600660.SH) is currently the world’s largest manufacturer of automotive glass.
In a statement issued on July 29, Fuyao Group confirmed the search of Fuyao Glass America—its wholly-owned subsidiary in Ohio—by U.S. federal agencies and local law enforcement. The on-site investigation was completed, and the U.S. agents left at around 5 p.m. on July 26, according to the statement.
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Fuyao said in the statement that Fuyao Glass America “is not the target of the investigation” as they were told by the U.S. federal agencies and was mainly “cooperating with the investigation into a third-party labor service company.”
