Legend Group, China's leading domestic computer manufacturer, expects its mobile phone handset venture to break even next year, according to the group's chief financial officer, Mary Ma Xuezheng. Legend formed the 60-40 venture with Xiamen Overseas Chinese Electronic Co (Xoceco) in February and later increased its stake to 80.8 per cent. Xoceco made 400,000 handsets […]
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Japanese industrial park for Jiangsu
Lots are being sold to Japanese firms wanting to invest in an industrial park in Kunshan, Jiangsu province. Mitsui & Co has teamed up with the city government and a Taiwanese company to assist Japanese companies with plant construction and goods distribution in the area. They expect 80 firms to move into the 200-hectare park.
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Whirlpool buys out partner
US white goods manufacturer Whirlpool has bought its mainland partner Shanghai Narcissus out of their unprofitable washing machine venture, South China Morning Post said. Whirlpool will pay US$9m for 20 per cent of the venture, giving it total ownership of Whirlpool Narcissus. Shanghai Narcissus had been delisted following four consecutive years of losses between 1996 […]
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BMW venture gets green light
German luxury car maker BMW has received approval for its joint venture with Brilliance China Automotive Holdings, Bloomberg reported. The new venture will make 3- and 5-series sedans at Brilliance's plant in Shenyang, Liaoning province. Production is expected to start in the second half of this year, with a target production of around 30,000 units […]
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Honda in expansion talks
A team of Honda Motor senior executives, including company president Hiroyuki Yoshino, was in Guangzhou in July for high-level talks on expansion of the Japanese carmaker's joint ventures in the city, South China Morning Post said. The talks were held with municipally owned Guangzhou Auto Group and Dongfeng Motors. Guangzhou Auto is Honda's partner in […]