BERLIN — A German company that specializes in laser communication says it is pulling out of uncompleted deals in China after the German government barred it from delivering hardware to the country. Mynaric said on Friday that it had requested official clearance of a planned export of products to a Chinese customer, which it didn't identify. It said it received a notification “that clearly prohibits Mynaric from delivering laser communication hardware to China.”Asked on Monday about the company's announcement, Economy Ministry spokesman Korbinian Wagner had no immediate comment and said the government typically doesn't confirm, deny or comment on individual cases. Mynaric, which said it hadn't yet delivered any laser communication hardware to China, said it is ceasing business in China immediately and would start extricating itself from uncompleted transactions. It said it “considers its clear commitment to national interests of its core markets as critical to its business success.”

Source: International New York Times August 03, 2020 11:37 UTC