Virgin to Invest in Clean Energies
Richard Branson has announced plans to found a company in China to develop clean energy. "We plan to invest quite heavily in it,'' Branson said during a press conference. He is visiting China as part of the entourage with Britain's Prime Minister Gordon Brown, who is making his first official visit to China since assuming power from predecessor Tony Blair. Branson's Virgin Group invests elsewhere in alternative-energy technologies, such as windmills, hydroelectric projects and solar power.
Danone Chief Quits Following JV Legal Disputes
Emmanuel Faber, Danone's Head of Operations in China, has resigned from
his post, the French dairy company has announced. "Taking into account
the status of the joint venture company within the Danone Group, and
Danone's internal corporate policy, I can no longer serve as the
Chairman of the Board," Faber confirmed. He had been under considerable
pressure following an ongoing legal battle with Chinese joint venture
partner Wahaha. The departure of Faber may help resuscitate an
acrimonious partnership, in which Danone holds 51 per cent of the
shares. Last June, the French company filed a lawsuit against Wahaha,
accusing the Chinese company of selling Wahaha-branded drinks without
its permission.
Carrefour Opens First Energy-Saving Store
French retailer Carrefour has opened its first energy-saving store in
China, in Guanggu / Wuhan, Hubei province. It is estimated that the new
store will save up to 50,000 cubic metres of water and 1,200,000kw of
energy per year – cutting he company’s energy bill by a projected 20
per cent. The energy-efficient supermarket cost RMB2m more to build
than an ordinary store, but Carrefour believes these costs will be
recouped through annual energy savings and lower maintenance. This
year, Carrefour plans to upgrade most of its supermarkets in China to
energy-efficient facilities.
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