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Fuyao Glass Industry Group (OTCPK:FYGGY) recently made headlines as U.S. government agencies conducted a search at its Ohio subsidiary as part of an investigation into a third-party employment-services company.
The subsidiary, Fuyao Glass America, was informed that it was not the focus of the investigation, as reported in a filing with the Shanghai Stock Exchange.
A U.S. Homeland Security spokesperson confirmed that their special agents executed search warrants at Fuyao Glass and 27 other locations concerning “allegations of financial crimes and labor exploitation,” as detailed in a local news report.
Despite the disruption, production at the Ohio facility was only partially affected during the search, which concluded on Friday. The company reassured stakeholders that cargo transport and delivery remained unaffected, and current operations are proceeding as usual.
