China Direct

Alliance Boots announces China growth for 2011-12

 

[Image courtesy of www.allianceboots.com]

CBI member Alliance Boots recently released its preliminary results for the year ended 31 March 2012, reporting revenue up 18.4% to £23 billion and underlying profit after tax up 10.2% to £693 million.

Alliance Boots continued to grow strongly in China as Guangzhou Pharmaceuticals Corporation, its joint venture in the country, made several acquisitions during the year to strengthen its position in key regional provinces. The joint venture performed well with good revenue growth, margin management, and control over costs, enabling the business to significantly improve profitability.

Commenting on Alliance Boots' preliminary results, Stefano Pessina, Executive Chairman, said, "Alliance Boots has again delivered double digit growth in trading profit while at the same time generating a strong operating cash flow to fund investment in growth and substantially reduce net borrowings. This performance, which reflects the excellent work of our teams, has been achieved through a combination of organic growth and benefits from the previous year's acquisitions, is particularly encouraging given the challenging economic environment.

"In the coming year, we expect the economic environment to remain difficult with continuing pressure on both consumer and governmental expenditure. This will generate both challenges and new opportunities for us.

"We are confident about our future prospects and ability to pursue profitable growth, both organically and through further international expansion. This will be supported by our strong operating cash flow and secure funding arrangements, which will enable us to continue to invest while at the same time reducing net borrowings. The development of new and existing partnerships will be a key component of our future growth."

Please click here to read the full results for Alliance Boots.

Jones Lang LaSalle announce Guangzhou city's largest retail mall transaction

 

 

[Image courtesy of www.joneslanglasalle.com]

 CBI member Jones Lang LaSalle recently facilitated Guangzhou's largest shopping mall transaction when China Overseas' Everbright Mall, for which Jones Lang LaSalle is the Sole Leasing Agent and Retail Asset Manager, was sold to Pramerica Real Estate Investors for US$318 million.

Located in Guangzhou's Haizhu District, Everbright Mall serves approximately 300,000 local residents, and is comprised of high-end retail space as well as a supermarket, a cinema, and restaurants.

Jex Ng, Managing Director of Jones Lang LaSalle Guangzhou and Shenzhen, said, "The historic deal was concluded after more than one year of negotiations. It is the largest retail mall transaction ever recorded in Guangzhou as well as the city's first investment acquisition of commercial real estate by a foreign institutional investor."

Tom Liu, Head of Investment at Jones Lang LaSalle Guangzhou, said, "This transaction reinforces the positive outlook of Guangzhou's retail sector. We believe the investment market is still in its infancy, Guangzhou will continue to attract more foreign investors into its fast-growing commercial real estate sector."

Click here to read the full press release by Jones Lang LaSalle.

Alstom's generators continue to power China

 

[Image courtesy of www.alstom.com]

CBI member Alstom recently completed one of the biggest projects at its generator service factory in Stafford in recent years, the 330-tonne Daya Bay stator.

The stator is currently being shipped to China where it will become an integral part of the generator system supplying power to Hong Kong and mainland China via the Daya Bay nuclear power plant in Guangdong province.

Henri Argenson, general manager at Alstom’s Stafford facility, said, "We're very proud that such pioneering technology has been produced right here in Stafford. We have an incredibly talented local workforce, and the production of the stator is a true demonstration of their skills and commitment.

"Alstom is a global business and world leader in power generation, power transmission, and rail infrastructure, and our overseas customers are an incredibly important part of our business.

The Far East market is a particular focus, so we're delighted with the successful completion of the Daya Bay Stator contract. We're dedicated to continuing to invest in our staff and facilities, enabling us to provide world-class products and solutions."

Please read more here.

Book Now - UKTI China Regional Cities Programme Q1 2012

 

[Image courtesy of www.ukti.gov.uk]

Dear CBI members,

You may have read about the Regional Cities Trade Missions last month on our website however if not please find a summary of China-wide missions for Q1 below.

If you are interested in the Wuhan-Zhengzhou mission scheduled for 20-22 Feb please contact: Zheng.Weiwei@fco.gov.uk Tel: 0086 10 51924406

For your reference the CBI's China office will be attending the Zhengzhou section of the Mission.

UK Trade & Investment (UKTI) recently released the dates for the next phase of its Regional Cities Programme in China.

The schedule of the missions is as follows: Zhengzhou and Wuhan (20-22 February 2012), Nantong and Yancheng (27-29 February 2012), Kunming (23-24 February 2012), Chongqing (05-06 March 2012), Hangzhou and Ningbo (07-09 March 2012), and Foshan and Shunde (28-29 March 2012).

These missions will offer an excellent introduction to these cities and the opportunities that they offer.

Participants in the missions will enjoy:

     • Access to high-level officials
     • Business workshops
     • Knowledge about specific opportunities

Please click here for full details on the mission to Nantong and Yancheng and here for the mission to Hangzhou and Ningbo.

2012 China Regional Cities Programme Q1

 

[Image courtesy of www.ukti.gov.uk]

UK Trade & Investment (UKTI) recently released the dates for the next phase of its Regional Cities Programme in China.

The schedule of the missions is as follows: Zhengzhou and Wuhan (20-22 February 2012), Nantong and Yancheng (27-29 February 2012), Kunming (23-24 February 2012), Chongqing (05-06 March 2012), Hangzhou and Ningbo (07-09 March 2012), and Foshan and Shunde (28-29 March 2012).

These missions will offer an excellent introduction to these cities and the opportunities that they offer.

Participants in the missions will enjoy:

     • Access to high-level officials
     • Business workshops
     • Knowledge about specific opportunities

Please click here for full details on the mission to Nantong and Yancheng and here for the mission to Hangzhou and Ningbo.

Investment is the best medicine - UK Company AstraZeneca to acquire Guangdong based Beikang Pharma

[Image courtesy of www.astrazeneca.com]

CBI member AstraZeneca entered into an agreement to acquire Guangdong BeiKang Pharmaceutical Company Ltd., a privately-owned Chinese generics manufacturing company based in southern China's Guangdong province. The acquisition will provide AstraZeneca with access to a portfolio of injectable medicines used to treat infections that AstraZeneca will make available to patients in China.

Following the expected completion of the transaction in the first quarter of 2012, AstraZeneca will be responsible for the manufacture and commercialisation of these medicines.

AstraZeneca's acquisition will accelerate the company's 'broad market' strategy, which aims to increase the accessibility and affordability of medicines for wider patient populations that are currently underserved.

Mark Mallon, President of AstraZeneca’s Asia-Pacific region, said, "AstraZeneca continues to invest in the key emerging markets such as China where the combination of growing populations, elevated levels of chronic diseases, and increasing income are driving demand and expectations for better healthcare treatment. Our new acquisition further underscores our intention to serve the health needs of Chinese patients through our innovative medicines and, increasingly, high quality branded generic treatments that are locally produced to global standards."

AstraZeneca expects emerging markets to account for approximately 25% of its global sales by 2014, up from 17% in the third quarter this year.

Please click here to read the full press release by AstraZeneca and here for additional media coverage.

UK company Ineos announces project deal with Sinopec in Guangdong province

 

[Image courtesy of www.ineos.com]

Last month, CBI member INEOS licensed its Innovene PP process to the Sinopec Maoming Company for the manufacture of polypropylene homopolymers, random copolymers, and impact copolymers at Sinopec's planned manufacturing facility in Maoming in southern China's Guangdong province.

Scheduled to open in 2013, Sinopec's new plant will serve the South China markets, including the Pearl River delta region, and bring Sinopec's total capacity based on INEOS Technologies Innovene process to 1.2 million tons of polypropylene. Sinopec is the largest polypropylene producer in China, and produces a range of premium and specialty products using the Innovene PP platform.

INEOS Technologies has now signed four PP licenses in China this year.

Peter Williams, CEO of INEOS Technologies, said, "We are delighted that Sinopec has selected INEOS as their partner for their new Maoming polypropylene project, and look forward to working with Sinopec to ensure the success of the new facility. The repeat business from a customer with the stature of Sinopec is a testimonial to the overall excellence of the technology and the support INEOS Technologies provides to its licensees. INEOS has now licensed approximately 1.7 million tons of capacity in China in 2011."

Please click here to read the full press release by INEOS.

UK design Company Arup builds its reputation with ICC award at MIPIM Asia

 

 

[Image courtesy of www.arup.com]

CBI member Arup recently announced that the International Commerce Centre (ICC) in Hong Kong, to which it provided full engineering services, was voted as the gold winner at the MIPIM Asia Awards 2011, a scheme which recognises outstanding real estate projects in the Asia Pacific region.

Boasting stunning views of Victoria Harbour, ICC is the tallest building in Hong Kong and set new benchmarks for tall building construction in the city. The main structural skeleton is formed from a high modulus concrete inner core wall. Arup engineered the design of the innovative self-compacting high modulus concrete with special volcanic tuff aggregate.

Arup also had a major involvement in five other projects which were recognised at MIPIM Asia Awards 2011 for their innovative, technical, environmental, and architectural qualities:

• Shanghai International Cruise Terminal, which Arup designed the district cooling system for, was awarded silver in the Best Mixed-use Buildings Category.

• Hong Cheng Plaza in Guangzhou, to which Arup was the structural, geotechnical, and façade engineer, received silver in the Best Chinese Futura Projects Category. Olympia 66 in Dalian, to which Arup provided structural and geotechnical consulting services, received bronze.

• Midfield Terminal at Abu Dhabi International Airport, to which Arup was the multi-disciplinary engineer, won silver in the Best Central and Western Asia Futura Projects Category.

• Shanghai Wheelock, which Arup developed a preliminary structural design for, won bronze in the Best Business Centre Category.

Please click here to read the full press release by Arup on the recognition it received at the MIPIM Asia Awards 2011.

Earlier this year, Guangzhou International Finance Centre (IFC), engineered by Arup, won the Best Tall Building Award for the Asia and Australasia Region from the Council on Tall Buildings and Urban Habitat (CTBUH) for its outstanding design and construction.

Arup engineers from Hong Kong, London, and Shenzhen worked together to provide full engineering design services for Guangzhou IFC, a highly innovative tower with striking visual impact.

Please click here to read the full press release by Arup on the recognition received by Guangzhou IFC.

Michael Kwok, Arup's Project Director, said, "Guangzhou IFC is another success story of global collaboration between Arup offices to deliver a world class project. We are proud that the depth and breadth of our expertise helps to shape Guangzhou's skyline, and continues to make a positive impact on the built environment."

 

Flying High in China - Airbus delivers first A380 to China Southern

 

[Image courtesy of www.airlinereporter.com]

CBI member Airbus recently delivered the first A380 to China Southern Airlines, the first out of five aircraft ordered by the Chinese airline. China Southern Airlines is the first operator of the highly eco-efficient aircraft in China and the seventh globally.

Powered by the Trent 900 engines manufactured by fellow CBI member Rolls-Royce, the A380 aircraft will initially be operated on domestic routes between the major Chinese cities of Beijing, Shanghai and Guangzhou. China Southern Airlines will later deploy the A380 on international routes.

Commenting on the delivery, Tom Enders, President and CEO of Airbus, said, "We offer China Southern Airlines our warmest welcome as the newest operator of the A380. The A380 has set new standards in comfort, economic efficiency and environmental performance. With the A380, China Southern Airlines will surely play a key role in the top league of the world's leading airlines."

Si Xianmen, Chairman of China Southern Airlines, said, "We are proud to become the first A380 operator in China. The introduction of the A380 in our fleet is a very important step for the development of China Southern. This most spacious and modern aircraft enables us to offer our passengers world-standard comfort on our flights. The economics offered by the A380 will undoubtedly improve our competitiveness on international routes and is the perfect asset to make China Southern Airlines achieve its goal of becoming a leading global carrier."

 

Shell expands in South China

 

 
[Image courtesy of www.shell.com]

Energy giant and CBI member company Shell recently opened its first Lubricants Technical Service Centre in Zhuhai in southern China's Guangdong province.

The new Technical Service Centre offers a range of services to key industry customers and automotive original equipment manufacturers (OEMs) such as technical research, marketing and training services related to their lubricants application. The centre also serves as a platform for collaboration between Shell and leading OEMs and research institutes, which helps Shell remain at the forefront in technological developments.

Please click here to read the full press release by Shell.