00:37 GMT +317 February 2019
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    China’s Giant Wind Turbine Producer Fined Over US Exclusive Technology Theft

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    WASHINGTON (Sputnik) - A US court fined Chinese wind turbine manufacturer Sinovel Wind Group for stealing trade secrets from the US company AMSC, the Department of Justice said in a release on Friday.

    "The court found that AMSC’s losses from the theft exceeded $550 million, and imposed the maximum statutory fine in the amount of $1.5 million on Sinovel Wind Group LLC," the release said. "The court found that the parties settled the restitution amount, and imposed a year of probation until Sinovel pays the full restitution amount."

    In 2011, Sinovel had contracted with AMSC for more than $800 million in products and services to be used for the wind turbines that Sinovel made, traded and serviced, the release said.

    Sinovel was convicted for committing trade secret theft and wire fraud. Moreover, Sinovel stole exclusive wind turbine technology from AMSC in order to produce its own turbines, the release added.

    The Justice Department noted that Sinovel paid $32.5 million to AMSC this week and will pay additional $25 million within a year during which the company is on probation.

    Moreover, Sinovel will also pay $850,000 to additional victims within its year of probation, according to the release.


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    information, theft, fine, Sinovel Wind Group, AMSC, China, United States