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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China's BAIC distances itself from arrested worker AFP - Wednesday, October 21 Send IM Story Print China's BAIC distances itself from arrested worker BEIJING (AFP) - – Beijing Automotive Industry Holding Co (BAIC) sought Wednesday to distance itself from an employee indicted in the US for industrial espionage, saying it respected intellectual property rights. Beijing Auto's statement followed the arrest last week in the United States of Yu Xiangdong, also known as Mike Yu, on charges of stealing trade secrets from Ford Motor Co and trying to sell them in China. "BAIC has always respected and protected intellectual property rights. In the process of developing its own-brand cars, the company has always stressed the cultivation of innovation abilities," the statement said. It said Yu, a former Ford engineer, joined Beijing Auto's research and development division to work on computer-aided engineering and automotive body design in November last year on a three-year contract. He applied for leave to take a personal trip to the US on October 13, it added. It stopped short of commenting further on any specifics of Yu's indictment or whether it had received any of the alleged trade secrets, but said it was closely following the case. BAIC is China's fifth-largest auto maker based on January-August sales, according to the China Association of Automobile Manufacturers. The US indictment alleges Yu, who worked as a product engineer for Ford from 1997 to 2007, took Ford design secrets to China in 2005 where he shared them with Chinese car makers in the hopes of landing a job. Yu copied some 4,000 Ford documents on to an external hard drive before leaving Ford, the indictment said. Some Chinese auto makers are keen to gain access to the technology of foreign auto firms through overseas acquisitions. In September, BAIC teamed up with Swedish sports car maker Koenigsegg to buy Saab from General Motors of the United States. Earlier this year, it made an unsuccessful bid for General Motors' Opel unit, saying intellectual property rights concerns were to blame for its failure to reach agreement with GM. BAIC, which currently does not produce cars under its own brand name, operates joint ventures in China with German auto and truck maker Daimler and South Korea's Hyundai. Recommend Send IM Story Print Related Articles Azerbaijan boosts oil output in Jan-Sept by 8.5 pct Reuters - Thursday, October 22 Ukraine 3G auction at risk after spectrum decree Reuters - Thursday, October 22 First Gulf Bank Q3 up 9 pct on core activities Reuters - Thursday, October 22 Jaguar Financial opposes Canadian Royalties deal Reuters - Thursday, October 22 Colombia Ecopetrol says Q3 earns tumble nearly 70 pct Reuters - Thursday, October 22 News Search Top Stories British airport operator sells London airport Deutsche Bank posts three-fold profit rise Asia demand for ivory, sharks' fins set for scrutiny US rescue averted meltdown, but problems remain: report Rights group in hot water over Israel criticism More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Balloon boy parents ready to surrender to police: lawyer Australian burglar betrayed by leech IBM executive in insider trading case placed on leave Data confirms 'modest' AIDS vaccine breakthrough Euro chiefs express 'worries' over US, China export squeeze More Most Viewed » Oldest hominid skeleton sheds light on human origins Boyzone singer Gately dies in Spain More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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