Monday, November 17, 2014

Morgan Stanley pushed murky China stock to market

WASHINGTON (AP) — The pitch to investors described a company on the verge of spectacular success: a Chinese firm making sophisticated, high-end chemicals used to fight fires, stain-proof fabrics and toughen touchscreens. Tianhe Chemicals Group Ltd. boasted rock-bottom labor costs, unique manufacturing techniques and net profit margins triple those of competitors such as DuPont Co. and 3M Co.

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