Choose Knorr-Bremse Hungary over China?
German-based Knorr-Bremse, a leading manufacturer of braking systems
and a supplier to the Chinese transportation system, has decided to
build a new EUR40m production site in Hungary instead of China, the
Hungarian news site Portfolio reports. Antal Oláh, Managing Director of Knorr
Bremse's Hungarian division, said that Hungary was chosen over a "large
Far East country". Insiders say this must be China as Knorr-Bremse
already has large production capacities in this country. The Hungarian
government will subsidise the project to the tune of EUR1m. The plant
is expected to be completed in 2009.
Lufthansa Opens Shenyang–Munich Flight
Lufthansa has formally opened its new route from Shenyang to Munich.
There are three weekly flights, on Monday, Wednesday and Saturday, with
a stop in Seoul, South Korea. Lufthansa recently added flights to
Nanjing to its schedule, and now serves six destinations, including
Beijing, Shanghai, Guangzhou and Hong Kong, in the greater China
region.
Sharp Enters China's Mobile Phone Market
As reported in March,
Sharp will enter the Chinese mobile phone market. Japan's largest
mobile phone manufacturer will launch its first type high-end mobile
phone SH9010C in late June in Japan and China. All other Japanese
mobile phone makers including NEC, Panasonic and Kyocera have left
China due to fierce competition.
Blackstone Group Invests RMB1.1 bn in Shanghai
American private equity group Blackstone has acquired a commercial real
estate project in Shanghai for RMB1.1 bn, state media reports. This is
the first investment of Blackstone on Chinese soil. Blackstone bought a
90 per cent stake in a commercial building in downtown Shanghai from
Hong Kong-based VXL Capital Limited, which bought the building in 2006
for RMB585m. China Investment Corporation, the country's investment
arm, has invested USD3 bn in Blackstone last year.
Last update : Sunday, 15 June 2008
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