Investment briefs
Legend Group has opened a Yn60m computer manufacturing facility in Shanghai’s Jinqiao Export Processing Zone. The plant’s annual production capacity will reach 1.5m desktops and 360,000 laptops by the end of this year. Legend also manufactures in Beijing and
Huiyang, Guangdong province.
Bridgestone is investing US$99m in a wholly-owned tyre manufacturing subsidiary in
Wuxi, Jiangsu province. The 240,000 sq metre plant will be capable of producing 2.74m
tyres a year when the Japanese-owned firm begins operations there in September 2004.
Japanese advertising agency Dentsu is taking a 75 per cent stake in a US$4m market
research joint venture in Beijing with a local partner.
Philips Electronics’ opening of a new integrated circuit chip production line in Shanghai
brought its investment in its flagship venture to in excess of US$1bn. The new US$687m
facility will be capable of producing 30,000 eight-inch chips monthly on full operation.
A US$200m petrol station joint venture between Sinopec and Shell has finally been
given official approval, Sinopec officials told the Financial Times. BP is also awaiting to
receive official approval to establish similar joint ventures with Sinopec and PetroChina.
Zhejiang Jiuli Group, China’s largest manufacturer of fire-resistant cables, has sold the
business to Tyco International of the US for Yn84m. The privately-owned Jiuli decided to sell
the company, including its technology and brand, in order to focus on stainless-steel goods.
Mercedes-Benz plans to form a venture to make Actros trucks in China, said Business
Weekly. The newspaper said the German company is holding talks with Beiqi Futian Automobile,
an agricultural vehicle maker affiliated with Beijing Automotive Holdings.