(MADISON, WI) – A jury in Wisconsin on Wednesday convicted Chinese wind turbine manufacturer Sinovel of stealing trade secrets from a U.S.-based company.
Sinovel in March 2011 stole software that controls wind turbines from a U.S. company now known as ASMC. Sinovel had an $800 million contract with ASMC, but federal and international investigators found that Sinovel convinced an employee of ASMC's Austria office to give them the code so they could avoid paying out the contract.
The theft caused ASMC to lose 700 jobs and more than $1 billion, according to the Justice Department. Though the case began in 2013, the verdict comes at a time of heightened trade tensions with China and just days after the president slapped 30 percent tariffs on Chinese solar panels.
Sentencing will occur on June 4. It's not clear how much money ASMC may be able to get from Sinovel in restitution.