Viewing posts categorised under: Engineering

ChemChina Wins EU, US Nods for Syngenta Takeover

by swisscham in Engineering, Manufacturing

China National Chemical Corp(ChemChina) won the European Union’s antitrust approval for its USD43 billion takeover of Swiss pesticide maker Syngenta AG, a day after the US gave its blessing, bringing China’s largest foreign acquisition closer to the finish line. ChemChina’s offer to divest some pesticides and other agricultural products will remove “problematic overlaps” and allow EU regulators to clear the deal, the European Commission said in an emailed statement. The takeover, announced a year ago, is one of a trio of megadeals that would reshape the global agrochemicals industry. If the deal is completed, ChemChina Chairman RenJianxin would become the head of a chemicals giant that sells products as varied as rubber tires, pesticides and genetically modified crop seeds.

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Global Manufacturing Giants Back ChinaÕs Industrial Evolution

by swisscham in Engineering, Manufacturing

There is a factory in southwest ChinaÕs Chengdu City, which, should you want to visit, has a one month waiting list.The attraction? A successful realization of ChinaÕs ambitious industrial evolution plan ÒMade in China 2025.ÓItleads an expected result: exceptional levels of productivity and quality. ChinaÕs government understands that multinational companies have the potential to play a vital role in the renewal of its economy, but multinationals must also understand that China needs reliable partners, partners who think long term and do not sidestep the challenges ahead, CEO of Siemens pointed out. Many foreign manufacturers rushed to open factories in China, to capitalize on the cost effectiveness of ÒMade-in-China.Ó With China well on track to boost its global competitiveness through ÒMade in China 2025,Ó the widespread application of digital technology could further accelerate progress in energy efficiency and productivity, according to ABB CEO, Ulrich Spiesshofer. ÒFew countries are better positioned than China to embrace the digital revolution with the worldÕs most Internet users, largest digital retail market and most machine-to-machine mobile connectionsÓ, Mr. Spiesshofer added. He also said that ÓThe challenge is to integrate Chinese enterprises into the digital economy by connecting their robots, machines and plants to the industrial Internet and we could provide such information as well as digital know-howÓ.

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Swiss Agrochem Company Set to Work With China

by swisscham in Engineering, Manufacturing

Swiss agrochemical and seed producer Syngenta AG has said it is willing to work with more Chinese partners to make agriculture more sustainable in the country and to rejuvenate China’s ecosystems. The company is already working with academics at the Yantai Academy of Agricultural Sciences, apple growers and the vineyard of COFCO Great Wall Winery (YanTai) Co Ltd in Shandong province to adopt practical measures to improve soil quality and sustainability in their orchards.

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ABB Wins USD 40 Million Order to Enable Power Link in South China

by swisscham in Engineering, Manufacturing

ABB has won an order of over USD 40 million to provide advanced power equipment to the 800 kilovolt (kV) Dianxibei-Guangdong ultra-high-voltage direct current (UHVDC) transmission link. The project, operated by China Southern Power Grid Company Limited, one of the countryÕs two major grid operators, is expected to transmit 5,000 megawatts (MW) of power over a distance of more than 1,950 kilometers. The order was booked in the third quarter of 2016. The link will transmit clean hydro-power from Yunnan province in southwestern China to the Pearl River Delta region in Guangdong, one of the most densely urbanized regions in the world and a major economic and manufacturing hub of China. The link has the capacity to meet the annual power consumption needs of over 10 million people based on average per capita national consumption. It will also help the region to significantly reduce coal consumption and mitigate carbon dioxide and sulfur dioxide emissions.

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Biotech Leader Continues Fast Innovation

by swisscham in Engineering, Manufacturing

Global biotechnology company Roche Group is committed to driving innovation forward in China, which offers a market of 1.3 billion people. With its research and development capabilities in pharmaceuticals and diagnostics, the company has positioned itself to promote personalized healthcare and contribute to China’s precision medicine initiatives. Roche’s CEO Severin Schwan shared his insights with China Daily reporter Wang Hongyi. As a world-leading biotechnology company, Roche is very much led by science and driven by innovation. Roche leads the industry with advances in personalized healthcare and our strong oncology portfolio. R&D receives a greater share of our spending than marketing. The focus of innovation center is very much aligned with the diseases that have a high unmet medical need in China, such as Hepatitis B, which is one of the most prominent diseases in the country. They hope the new innovation center will spur collaboration between Roche and local research institutions, helping to attract top research talents from both China and overseas.

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Glencore net loss narrows; debt plan on track

by swisscham in Engineering, Manufacturing

Commodities and mining group Glencore PLC reported a narrower first-half net loss and signaled that it’s on track to significantly reduce its net debt by selling unwanted assets to weather the recent commodities turmoil. The world’s third largest diversified miner by market value reported a USD 369 million net loss for the six months ended 30 June, 2016, helped by cost reductions, compared with a USD 676 million net loss in the same period a year before. Revenue fell 6% on year to USD 69.4 billion due to broadly lower commodity prices as well as lower copper, zinc, coal and oil production in the first half compared with the same period a year before. Glencore’s shares have more than doubled so far this year, buoyed by a surge in commodity prices that caught analysts off guard. Production cutbacks, particularly in zinc, and sturdy demand in China, the world’s largest consumer of many commodities, after Beijing’s recent economic stimulus, have contributed to improved prices.

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LafargeHolcim to Sell More Chinese Assets as CEO Aims to Boost Margins

by swisscham in Engineering, Manufacturing

LafargeHolcim Ltd., the worldÕs largest cement maker, agreed to sell some plants to Huaxin Cement Co. for CHF 208 million (USD 215 million), the companyÕs second asset sale in China this week as Chief Executive Officer Eric Olsen cuts debt and tries to boost profitability. The transaction with Huaxin includes most of the non-listed Chinese cement assets held by LafargeHolcimÕs Lafarge China Cement Ltd. unit, the Jona, Switzerland-based company said in a statement Wednesday. Lafarge on Monday also agreed to sell a 56% stake in publicly traded Sichuan Shuangma Cement Co. to Tianjin Circle Enterprise for CHF 507 million. More than a year after the cement maker was forged from FranceÕs Lafarge and SwitzerlandÕs Holcim, Olsen is trying to deliver on profitability that was the underlying rationale for the merger after a global recession curbed demand for building materials. Delays in asset disposals and high-profile executive departures have eroded investor confidence at a time when competitors such as Heidelberg Cement AG are benefiting from improved demand in North America and Europe.

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Sonova Hears China’s Message Loud and Clear

by swisscham in Engineering, Manufacturing

More than half of an estimated 60 million Chinese people with hearing problems are inclined to use aids as long as they are “invisible”_that is, not easily noticeable, something that can fit snugly into an ear, like in the case of television news reporters and anchors. Led by Albert Lim, a Singaporean, Sonova’s Asia-Pacific, the world’s leading provider of hearing solutions, has taken upon itself the challenge of meeting this need. As senior vice-president of Sonova’s Asia-Pacific region, Lim travels to China frequently, and has been overseeing the company’s efforts to develop and produce customized “made-in-China” products for Chinese customers. What’s more, Sonova’s new products will also make it easier to hear and understand the Chinese tonal language. Switzerland-based technicians of Sonova are burning the midnight oil towards this goal within a year. Their customized designs will factor in the customer’s ear shape and its peculiar parts. Using 3D printing technology, hearing aids will then be created at Sonova’s factory in Shanghai with high precision, delivering better hearing quality.

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ABB eyes opportunities in China’s clean-energy drive

by swisscham in Engineering, Manufacturing

ABB Group, an electricity and automation solution provider based in Zurich, sees great opportunities in China’s clean-energy incorporation and micro grid drive, according to its top executive. “China has determined its goals in carbon dioxide reduction. This goal is going to generate large investment in a lot of sectors,” says Claudio Facchin, president of ABB’s power grids division. The Swiss multinational offers technologies for incorporating clean energy into conventional grids.

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Burckhardt Compression to Acquire Majority Stake in Leading Chinese Reciprocating Compressor Manufacturer

by swisscham in Engineering, Manufacturing

Burckhardt Compression signed on 10 March 2016, the agreement to acquire a 60% stake in Shenyang Yuanda Compressor Co., Ltd., the leading reciprocating compressor manufacturer in China. Shenyang Yuanda Compressor Co., Ltd. achieved sales of CHF 110 million in 2015 with 650 employees. With this acquisition Burckhardt Compression gains local market reach in additional market segments, expands its product portfolio to cover the diverse market requirements and gets direct access to a well-established local supply chain. Closing is scheduled to take place in April/May 2016. Both parties agreed not to disclose any further terms of the acquisition agreement.

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