In this Global Times piece, Chinese workers at the Chengshan plant say, “they could not see any future under the leadership of Apollo, which they believed lacks capability and is full of liabilities.”
And there’s more:
To prevent the promising joint venture from falling into the possible mires of cultural conflict again, Chengshan Group planned to buy the stake of its US partner.
The group has conducted two rounds of negotiations with the leaders of Cooper on June 26 and July 10, without any substantial progress, according to Chengshan Group.
The two sides agreed that there needs to be a long-term discussion, and therefore it was decided that the heads of Cooper, Chengshan and Apollo should have a three-party talk in Beijing.
But Apollo’s president failed to make it and Cooper kept emphasizing the benefits the acquisition would bring. Currently, the negotiation remains deadlocked, with no timeline fixed for the next round.