CBI member and leading global power systems company Rolls-Royce recently won a £65 million contract award from PetroChina, China's largest oil and gas producer, to supply six RB211 gas turbine
compression packages on the West-East Pipeline Project.
According to Tony Ruegger, Executive Vice President at Rolls-Royce, "We are delighted that once again PetroChina has put their trust in Rolls-Royce technology for this vital gas pipeline.
The nineteen RB211 packages currently operating in China have been in service for nearly half-a-million hours, with the longest running engine achieving over 34,000 hours.
Using Rolls-Royce aero engine technology, these gas turbine packages continue to provide very high levels of performance and stability."
Please read more here and here.
CBI member and U.S. aviation conglomerate Boeing and Chinese partner Aviation Industries Corporation of China (AVIC) recently announced the opening of a new factory in the New Binhai Area of Tianjin, which will significantly expand the production capacity of their joint venture, Boeing Tianjin Composites Co., Ltd.
The new facility will enhance Boeing Tianjin's existing composites manufacturing operations and product offerings and also allow the joint venture to provide even better support to the Chinese aviation factories that form an important part of Boeing's commercial airplane supply base.
Boeing invested $21 million to develop the new facility and is scheduled to begin full production in 2013.
Commenting on Boeing's deepening relationships with domestic companies, Marc Allen, president of Boeing China, said, "The expansion of Boeing Tianjin Composites is just one example of how Chinese companies have an increasing role as our manufacturing partners and collaborators.
Through commercial airplane sales, manufacturing, airplane services and research partnerships, we are committed to finding mutually beneficial avenues to advance our long-term relationships in China."
Please read more here and here.
CBI member and German auto giant BMW reported a record profit margin in the first quarter of 2011, driven largely by rapidly rising sales in emerging markets, especially China. BMW's Asia sales increased
by an impressive 53%, reaching more than 90,000 units.
China accounted for nearly two-thirds of the German automaker's Asia sales, with 58,700 vehicles sold in the Chinese market.
The rapidly growing demand of wealthy Chinese consumers for luxury vehicles drove the remarkable 70% increase in China sales.
China currently accounts for around 15% of BMW's global car sales, up from 12% one year ago.
Please read more here and here.
China Direct would like to thank Ben Cooper of the CBI's Beijing office for preparing this information.
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