Fanuc Bows Out Of A Dicey Deal
A deal that sparked cries of economic imperialism has unwound. On Feb. 19, Fanuc of Japan dropped its bid to buy a stake in Moore Special Tool, a Bridgeport (Conn.) precision machine-tool maker. Moore officials sought Fanuc's bid to raise money that would increase the computerized proficiency of its machine tools. When word of the talks surfaced late last year, Washington policymakers said that Moore held key U. S. technology, some of which is used to make nuclear weapons.
The sale, critics charged, would amount to the transfer of sensitive U. S. technology to Japan. An interagency panel recommended government approval of the deal, but the Bush Administration had yet to sign off. Fanuc cited delays in getting the O. K. as a key reason for ending its bid.