2007'02.04.Sun
Sonopress Ready for HD-DVD
July 11, 2006
GUTERSLOH, Germany, July 11 /Xinhua-PRNewswire/ --
Sonopress, a subsidiary of the arvato storage media group,
is actively processing orders for HD-DVD. The global
operating replicator of data and information carriers
offers its clients premastering, mastering and replication
for the new format.
"We are actively processing orders for HD-DVD. The
first discs are produced at our site in Weaverville, USA,
while authoring takes place in Gutersloh. We will soon be
ready for production in Gutersloh as well," says
Hans-Peter Hulskotter, CEO arvato storage media.
Authoring for this high-resolution format is
technically very demanding and requires the work of
specialists. HD-DVD offers numerous new possibilities such
as fading in a second video with the director's commentary
for a running film.
About HD-DVD:
High Density Digital Versatile Disc (HD-DVD) can be
produced with a single storage capacity of 15 GB or a dual
layer storage capacity of 30 GB. HD-DVD is based on a 405
nm wave length blue-violet laser. The thickness of both
disc halves is 0.6mm and identical with the thickness of a
DVD.
About Sonopress:
Sonopress, a subsidiary of the arvato AG with its
headquarters in Gutersloh, is one of the world's leading
replicators of data and information carriers. Sonopress,
which started out in 1958 as a pressing plant for vinyl
records, now boasts expertise in all standard digital data
carriers (DVD music, DVD Audio, SACD, CD Audio, CD-ROM, DVD
Video and DualDisc) and is a one-stop shop for a full range
of services, including pre-mastering, optical mastering and
replication, packaging, warehousing and distribution.
Sonopress produces more than 6 million data carriers
worldwide every day for a renowned international clientele.
Sonopress has a network of over 4,000 employees worldwide,
whose primary concern is customer satisfaction. For further
information, please visit: http://www.sonopress.de .
For more information, please contact:
arvato AG Offentlichkeitsarbeit
Tel: +5241-80-3408
Fax: +5241-80-3315
SOURCE Sonopress GmbH
PR
2007'02.04.Sun
Xinhua Far East Downgrades Dongfeng Automobile Co., Ltd. from A to A- Issuer Rating; Rating Outlook Remains Stable
July 11, 2006
HONG KONG, July 11 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings today downgraded the domestic currency
issuer credit rating of Dongfeng Automobile Co., Ltd.
("Dongfeng Auto" or "the Company", SH A
600006) from A to A-. The rating outlook remains stable.
The downgrade mainly resulted from Xinhua Far East's
concerns over the slow recovery in Dongfeng Auto's engine
business, intensifying competition in the local light truck
sector over the short- to medium-term and the expectation of
rising capital expenses in the near future. Although the
Company's acquisition of Zhengzhou Nissan Automobile Co.,
Ltd. ("ZZNissan") provides a higher degree of
product diversification, the growth potential and
profitability within this segment are clouded by
unfavourable sales taxes.
However, the assignment of the highest rating in
China's auto sector indicates Xinhua Far East's view that
the Company maintains a leading position in its key
business segments. Its financials are relatively strong,
and it is both maintaining closer cooperation with global
partners and enjoying solid support from Dongfeng Motor
Corporation ("DMC").
Xinhua Far East does not foresee, however, any
significant recovery in the company's major engine segment
in the near future. Turnover in Dongfeng Auto's engine
segment totalled RMB3.79 billion and RMB2.64 billion in
2004 and 2005, down a respective 14.3% and 40.3% from 2002.
This significant downturn is measured against the impressive
sales growth of years past and comes as the result of weaker
sales of downstream medium and heavy trucks for DMC, the
combined effects of macro controls and loose enforcement
against truck overload. Although Xinhua Far East believes
these factors may improve gradually, triggering greater
demand, a recovery is unlikely in the near term.
In the light truck segment, Xinhua Far East expects
Dongfeng Auto's growth to slow in light of the introduction
of more competitive models by major competitors and new
entrants to this niche. Growth in the whole segment will
nevertheless continue to outpace the growth in GDP.
SUVs and pickups have become the third pillar of the
company's business following Dongfeng Auto's acquisition of
a 51% stake of ZZNissan in the third quarter of 2004.
Turnover from ZZNissan contributed RMB2,641 million and
RMB771 million to the company in 2005 and the first quarter
of 2006 respectively, accounting for approximately 30% of
total revenue. Although the acquisition heightened the
Company's product diversification and provided a cushion
for total revenues, it has driven the total debt to total
capital ratio of the company from 0% in 2004 to 20.7% in
2005. Moreover, Xinhua Far East is concerned about the
growth potential and profitability of ZZNissan under a more
unfavourable sales tax regime.
In consideration of China's expanding auto engine
production capacity and given the ambitious investment
plans announced by leading global engine manufacturer
Cummins, the Company's co-operator, Xinhua Far East
believes that Dongfeng Auto's capital expenditure will rise
in the short- to medium-term. Xinhua Far East also
anticipates cash outflows under the coming full-listing
plan of the Company.
However, Xinhua Far East scores Dongfeng Auto's huge
cash reserves, its sufficient financial flexibility,
controlled capex spending record and support from DMC as
consistent with an A- ratings grade. In view of its
long-term growth potential and the high market
concentration in China's commercial vehicle sector, as well
as the company's enhanced product mix, Xinhua Far East
forecasts a stable rating outlook for Dongfeng Auto.
The third largest light truck maker in China in 2005,
Dongfeng Auto sold 107,413 vehicles in 2005, recording
turnover of RMB8.8 billion. It is a main domestic
co-operator of Cummins Inc., currently producing Cummins B,
C, and L series engines.
Zhengzhou Nissan Automobile Co., Ltd. is a major SUV
and pickup maker in China and a JV between Dongfeng Auto,
Nissan Automobile Business Co. and Zhengzhou Lightweight
Car. ZZNissan sold 13.4 thousand pickups in 2005, making it
the fourth largest pickup manufacturer in China. Dongfeng
Auto held a 51% stake in ZZNissan at the end of the first
quarter of 2006.
Dongfeng Motor Corporation is China's third largest
auto group, which ultimately holds a 24.5% stake in the
Company.
Dongfeng Auto is also a constituent of the Xinhua FTSE
China 200 Index and, as of market close on July 10, 2006,
its total market capitalization and investable
capitalization were RMB8, 020 million and RMB2, 406 million
respectively.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
About Xinhua FTSE China 200 Index
Xinhua FTSE China 200 Index is the large cap index in
the Xinhua FTSE China A Share Index Series and includes the
top 200 companies in China by market cap. It is designed as
a tradable index and is calculated in real-time every 15
seconds. For daily data and further information, see
http://www.xinhuaftse.com .
About Xinhua Far East China Ratings
Xinhua Far East China Ratings (Xinhua Far East) is a
pioneering venture in China that aims to rank credit risks
among corporations in China. It is a strategic alliance
between Xinhua Finance (TSE Mothers: 9399), and Shanghai
Far East Credit Rating Co., Ltd. Shanghai Far East became a
Xinhua Finance partner company in 2003 and the first China
member of The Association of Credit Rating Agencies in Asia
in December 2003.
Capitalizing on the synergy between Xinhua Finance and
Shanghai Far East, Xinhua Far East's rating methodology and
process blend unique local market knowledge with
international rating standards. Xinhua Far East is
committed to provide investors with independent, objective,
timely and forward-looking credit opinions on Chinese
companies. It aims to help investors differentiate the
credit risks among the corporations in China, thereby,
cultivating their awareness and promoting information
disclosures and transparency in China market.
For more information, see
http://www.xfn.com/creditrating .
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 20 news bureaus
and offices in 19 locations across Asia, Australia, North
America and Europe.
For more information, please visit
http://www.xinhuafinance.com .
About Shanghai Far East Credit Rating Co., Ltd
Shanghai Far East Credit Rating Co., Ltd. is the first
and leading professional credit rating company with
comprehensive business coverage in China. It is an
independent agency established by the Shanghai Academy of
Social Sciences with the mission to develop internationally
accepted standards for capital market in China. The company
is a pioneer in conducting bond-rating business in China.
For years, it has been authorized by the Shanghai branch of
the PBOC to undertake loan certificate credit rating.
Since establishment, it has rated over 1,000 corporate
long-term bonds and commercial papers, based on the
principles of objectivity, fairness and independence. The
company has also maintained over 50% market share in the
loan certificate-rating sector in Shanghai for three
consecutive years. With its strong local presence and
knowledge, it provides investors with unique and the most
insightful credit opinion.
For more information, see http://www.fareast-cr.com .
For more information, please contact:
Hong Kong
Joy Tsang
Corporate & Investor Communications Director
Xinhua Finance
Tel: +852-3196-3983
+86-21-6113-5999
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
Ms. Ishviene Arora
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: ishviene.arora@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.04.Sun
Super Wedding Gown Shows to be Presented at ShanghaiMart Beginning July 12
July 11, 2006
Top Wedding Gowns, First-Class Stage Affections and Professional Models
SHANGHAI, China, July 11 /Xinhua-PRNewswire/ -- From
July 12 to 14, leading wedding gown brands including
Topgown, WTC Studio, VIVAN, Jinhua, SWALRO, DL Fashion
Design, Tianxiang, Huicuilang, Mei-Lin Bridal and Tongkang
will be performing nine super wedding gown shows
highlighting top wedding gowns and first-class stage
affections on 7/F, ShanghaiMart, as a prelude to the 10th
China-Shanghai International Wedding Photographic Equipment
Exhibition.
Taiwan's wedding gown designer Topgown will first make
its appearance at 10am on July 12 to present all-new gowns
specially designed for the show and unveil its creative
accessories, reflecting the fashion trends in wedding gown,
makeup and style design for this autumn and winter.
Collections to be unveiled at the show, ranging from bridal
dress to evening gowns, demonstrate a mix of creative
handcraft and novel materials with luxurious lace, chiffon,
silk yarn, feather and sequins. Locally pleated bubble
skirts and shoulder straps decorated with large flowers add
diverse elements to the gowns. Ever-changing colors present
a more fantastic show time.
Subsequently, WTC Studio, focusing on deluxe, romantic
elements, will stage a wedding gown show integrating modern
and antique design. Changes in cutting lines highlight the
innovation in handcraft. The design is affected by the
antique elegance of the 1940s and the rock-and-roll concept
of the 1980s. Inspired by the prevalent "money
worship" in 2006, luxurious wedding dress is created.
VIVAN will present a fashionable "wedding gown
culture" with foreign models. The 2006 VIVAN bridal
dress and wedding gown by chief designers will premiere,
which follow international fashion trends and combine
current fashion elements. The collections also perfectly
fit Eastern cultures. Details ranging from stylish,
creative design, selected high-quality materials and French
lace to personalized accessories reflect VIVAN's exquisite,
distinguished quality and simple, vivid tones. Moreover,
the fashionable, elegant accessories enrich the interior
characteristics of the wedding gowns, while making you a
unique eye-catcher in the metropolis.
Jinhua, a wedding gown business from Taiwan, derives
its inspiration to define 2006 summer trends from three
themes, namely, "resplendence and luxury",
"delicacy and grace", and "romantics and
dance."
SWALRO, a Shanghai-based wedding gown business,
highlights its Taiwan-original brand with the theme of
"colorful blossom", which features concise and
fashionable lines, and is well-ready to design unparalleled
romantic wedding ceremonies.
On July 13, DL Fashion Design, a wedding gown brand
from Malaysia which takes part in the 10th China-Shanghai
International Wedding Photographic Equipment Exhibition for
the first time, will stage a show themed luxury and lace.
Gorgeous elements together with innovative design bring
distinctive style in a modern approach. Designers integrate
sex appeal, elegance and mysticism of lace into their
wedding collections, triggering a unique trend for
new-generation wedding collections. In addition, Tianxiang
will launch its collections themed fashion at the
Exhibition.
On July 14, Huicuilang will highlight harmony and
brightness in its wedding collections; Mei-Lin Bridal will
present its collections based on royal selections, show
window, charm and fashion and true love; and Tongkang from
Hong Kong will show crystalline accessories, high-grade
fashionable wedding collections, colorful evening dresses
and wedding collections featuring nature.
About Shanghai International Exhibition Co., Ltd.
(SIEC)
Shanghai International Exhibition Co., Ltd. (SIEC) is
jointly invested by Shanghai World Expo (Group) Co., Ltd.
and the Council for the Promotion of International Trade,
Shanghai. The SIEC was founded on July 1st, 1984 with the
approval of the Ministry of Foreign Trade & Economic
Cooperation and the People's Government of Shanghai
Municipality.
The SIEC is a full member of Union des Foires
Internationales (UFI). The SIEC has held 500 international
exhibitions of various themes and sizes. It also has
successfully held a number of solo exhibitions at national
level.
"AUTO SHANGHAI," "SHANGHAITEX,"
"CHINA CYCLE," "FASHION SHANGHAI,"
"ELE/PT COMM CHINA" are among the first eight
exhibitions approved excellent by THE EVALUATION COMMITTEE
OF SHANGHAI CONVENTIONAL & EXHIBITION INDUSTRIES.
For more information, please contact:
Chen Xiaocong
Show Manager
Add: 8/F,OOCL Plaza, 841 Yan An Zhong Road, Shanghai
200040, China
Tel: +86-21-6279-2828
Fax: +86-21-6545-5124
Email: xiaocong@siec-ccpit.com
Web: http://www.siec-ccpit.com
SOURCE Shanghai New International Exhibition Center
2007'02.04.Sun
Dutch Credit Card Organization Gains Exclusive Chinese Rights
July 11, 2006
PaySquare and China UnionPay Sign Exclusive Contract
UTRECHT, Netherlands, July 11 /Xinhua-PRNewswire/ --
Dutch credit card organization PaySquare received Chairman
Tinghuan Liu of China UnionPay (CUP) today in Utrecht. The
visit seals the exclusive partnership between the largest
Chinese credit card organization and one of the largest
players in the Benelux in the field of card acquiring. With
this deal PaySquare opens the market for more than 940
million CUP cardholders.
The partnership means that as of today PaySquare is the
exclusive provider for acceptance of the CUP credit card
brand in the Netherlands. Clients from Belgium, Luxembourg
and other parts of Europe can also contact PaySquare if
they are interested in accepting credit cards from China
UnionPay (CUP cards) as a means of payment. For business
owners in tourist areas this is a particularly welcome
addition to the current payment options due to the
increasing numbers of Chinese tourists. The Chinese are
known for being particularly pleased to pay with their
trusted CUP Card.
In 2005, the number of outbound Chinese travellers
amounted to 31 million exits. The average annual growth
rate during the past 5 years has been 21%. Encouraged by
the Chinese and Dutch governments, the political, economic
and cultural exchanges between the two countries continue
to grow. Over 150,000 Chinese visited Holland last year
with total expenditures of 40 million US dollars.*
Mr Tinghuan Liu: 'Today marks the launch of CUP card
merchant services in the Netherlands. This opens a new era
of cooperation in the card industry between China and the
Netherlands. I am confident that we will see a successful
cooperation and prosperous development of CUP card merchant
services in the Netherlands. As of today, with the
establishment of this partnership, CUP is represented in 20
overseas regions.'
Ms Lynn van Rooijen-McCullough, CEO PaySquare: 'The
partnership with China UnionPay offers us the opportunity
to further strengthen our leading market position as a
multi-brand card acquirer. Now that the great CUP brand has
been added to our portfolio, we have also achieved our
ambition of becoming the number one contact point for the
Asian card market. We are therefore very grateful to China
UnionPay for the trust that they have exclusively placed in
us and we congratulate them on gaining their 20th CUP
accepting country/region.'
About PaySquare
PaySquare is one of the largest players in the Benelux
for the acceptance of international means of payment.
PaySquare offers MasterCard, Visa, JCB, China UnionPay,
Maestro and -- thanks to a unique alliance -- American
Express. The Dutch organization also issues both MasterCard
and Visa credit cards, on its own account and in partnership
with other organizations. More information about PaySquare
can be found at http://www.paysquare.nl/en .
About China UnionPay
China UnionPay Co., Ltd, approved by the State Council
and licensed by the People's Bank of China, is a
shareholding financial service institution established
through the capital contributions of more than 80 domestic
financial institutions. The Shanghai-based China UnionPay
('CUP') was officially incorporated on 26 March 2002. To
date, CUP has a total of 23 branches and 180 members, among
which 24 are overseas financial institutions. Additional
information can be found at:
http://www.chinaUnionPay.com/englishversion .
* Source: China UnionPay
NOTE for the EDITORS
On 11 July a photo of the meeting will be available for
download at http://www.paysquare.nl/en/press.
For more information, please contact:
Ms Manon van Heems
Press Officer of PaySquare
Tel: +31-30-283-6275
Mobile: +31-65-062-1033
Email: manon.van.heems@paysquare.nl
SOURCE PaySquare; China UnionPay
2007'02.04.Sun
Case Western Reserve University is Taking Ethics From the Classroom to the World
July 11, 2006
Appoints First Professor, Director of the Inamori International Center for Ethics and Excellence
CLEVELAND, July 11 /Xinhua-PRNewswire/ -- After an
international search, Case Western Reserve University
Interim President Gregory Eastwood, M.D., and Dr. Kazuo
Inamori, founder of the Inamori Foundation and of Kyocera
Corp. and the telecommunications giant KDDI, announce the
appointment of William Deal, Case's Severance Associate
Professor of the History of Religion, as the first Inamori
Professor and Director of the Inamori International Center
for Ethics and Excellence. Deal's appointment is effective
July 1.
Deal, Case's faculty expert in Japanese religion and
comparative ethics, will direct the University-wide center,
established with a $10 million gift to Case in April, 2005
from the Inamori Foundation.
"Scientists and engineers have advanced science
and technology endlessly toward creating our modern
material civilization. While this development makes it
possible for humanity to enjoy many amenities, we are also
confronted with large-scale environmental destruction that
might destroy the Earth," stated Dr. Inamori.
The center's initiatives will advance Dr. Inamori's
philosophy of "pursuing what is right for
humankind" and examine such pressing issues as those
posed by rapidly developing technologies and science that
have seemingly outpaced ethical considerations of their
uses.
Deal, who lived in Japan for six years, will divide his
time between teaching ethics at Case and overseeing the
international activities and initiatives of the new center.
Since Deal's arrival at Case in 1989, he has incorporated
ethics in every class he has taught.
"Today's world is fraught with ambiguous
situations in all aspects of life from birth to death.
Some of these issues raise circumstances that require
ethical decisions. The goal of the Inamori Center is to
advance decision makers who can make the appropriate
choices that protect humankind and our environment,"
said Deal.
One way the Inamori International Center will foster
ethics worldwide is through the establishment of the
Inamori Prize in Ethics, a major annual award that will
honor eminent leaders who have made a major impact on the
theory and practice of ethics globally.
Among one of Deal's first responsibilities will be to
form the selection committee who will then work together to
identify the first Inamori Prize recipient in 2007. This
individual will then be honored at an inaugural event that
will include an international symposium, reflective of the
recipient's contributions to bettering the world. The
awards ceremony and symposium will take place at Case.
Case Western Reserve University is among the nation's
leading research institutions. Founded in 1826 and shaped
by the unique merger of the Case Institute of Technology
and Western Reserve University, Case is distinguished by
its strengths in education, research, service, and
experiential learning. Located in Cleveland, Case offers
nationally recognized programs in the Arts and Sciences,
Dental Medicine, Engineering, Law, Management, Medicine,
Nursing, and Social Work. http://www.case.edu .
Inamori Foundation was established in Kyoto, Japan, in
1984 by Dr. Kazuo Inamori, Founder and Chairman Emeritus of
Kyocera Corporation and Honorary Advisor of KDDI
Corporation, with his personal funds. The Foundation takes
an active role in promoting international understanding by
awarding the Kyoto Prize to honor those who contribute
greatly to scientific, cultural advancement and human
betterment, supporting young researchers in Japan and
providing programs for social contributions.
http://www.inamori-f.or.jp .
NA
For more information, please contact:
Susan Griffith
Case Western Reserve University
Tel: +1-216-368-1004
Email: susan.griffith@case.edu
SOURCE Case Western Reserve University
2007'02.04.Sun
Technology and Nature in Harmony: The 12th International Automobile & Manufacturing Technology Exhibition Hopes to Reach a New Peak Next Spring
July 11, 2006
SHANGHAI, China, July 11 /Xinhua-PRNewswire/ -- The
12th International Automobile & Manufacturing
Technology Exhibition (Auto Shanghai 2007), will be held in
Shanghai New International Exhibition Center from April 22
to 28, 2007.
Since its initiation in 1985, Auto Shanghai is the
earliest international trade auto show in China. In June
2004, Auto Shanghai became the first UFI approved event in
China. With the development of both the Chinese and
international automotive industries and an accumulated
experience of 20 years, Auto Shanghai has grown into the
most authoritative exhibition in China, as well as one of
the most influential international exhibitions. Since
2003, the China Association of Automobile Manufacturers and
China's Council for the Promotion of International Trade,
and Automotive Sub-Council, have been involved in the
exhibition as organizers, teaming up with the original
organizer -- China Council for the Promotion of
International Trade, Shanghai Sub-Council. The close
collaboration among these three organizers has laid a solid
foundation for growing from a regional auto show to an
international exhibition, thus enabling Auto Shanghai to
increase its credibility and reach wider audiences. Auto
Shanghai 2005, with a total exhibition area of 120,000
square meters, attracted 1,036 exhibitors from 26 countries
and regions; 5,380 reporters of 1,020 media from 35
countries and regions; and also 391,593 visitors from 113
countries and regions, who jointly witnessed the success
and resplendence of Auto Shanghai.
Auto Shanghai 2007 is organized by the China
Association of Automobile Manufacturers, China Council for
the Promotion of International Trade, Shanghai Sub-Council
and China Council for the Promotion of International Trade,
Automotive Sub-Council, and is co-organized by the World
Expo Group-Shanghai International Exhibition Co., Ltd., MMG
and IMAG. The show also receives special support from the
China Machinery Industry Federation, and the Society of
Automotive Engineers of China (SAE China).
Auto Shanghai 2007 will pre-empt the whole 9 indoor
exhibition halls (7 halls on automobile manufacturing, the
other 2 on auto components), 2 outdoor temporary halls and
outside venues of Shanghai New International Exhibition
Center, with a total exhibition scale of over 140,000
square meters. Regarding the setting of the schedule, the
organizers have chosen April 20th and 21st as media only
days for both domestic and overseas media, in the hopes of
facilitating reporters and journalists who will report the
Auto Shanghai in a comprehensive way, allowing them to
conduct interviews without any interruptions. April 22nd
and 23rd will be trade visitor days. April 24th to 28th
will be open to the public.
The theme of Auto Shanghai 2007 is "Technology and
Nature in Harmony". The exhibition will present
passenger cars, commercial vehicles, buses, trucks,
special-purpose vehicles, auto design and new concept
products, automotive parts & components, car audio,
tires, measuring devices, maintenance equipment, and car
products, showcasing the latest achievements of the
international automotive industry and leading technologies
and products from domestic companies. This will reflect
the current development levels within the automotive
industry.
Auto Shanghai has grown 14 times in terms of exhibition
scale from 10,000 square meters of its initiation to a
current 140,000 square meters. As far as scale is
concerned, Auto Shanghai can be ranked among the world's
most influential auto shows. Besides the scale, another
benchmark is whether it retains the first-class and leading
position in the internationalization of its quality.
Therefore, in order to rank Auto Shanghai as one of the
worlds most famous auto shows, the concept of the
organizers is to enhance the quality simultaneous to the
expansion of scale, in order to improve the service
standards alongside management skills, and to make the
trade show bigger and more dominant in the market. In view
of the above, CEOs from some of the largest automobile
companies will be invited by the organizers. These
industry giants will be asked to participate in line with
the criteria of top auto shows, with the aim of increasing
the number of automobiles making their global debuts. In
the meantime, the organizers will invite world famous
automobile design companies participating in Auto Shanghai
and launching their new design concept in order to reflect
our advantage on technology. The organizers will share
communication and promotion channels with the Paris Auto
Show to further expand the scale and quality of overseas
visitors. They will establish a press center with sound
facilities providing reporters with high standard services.
The overall promotion plan, artwork, design and official
website will face a bidding procedure in the hope to gain
the highest quality available. The organizers will provide
catering and rest-area facilities in exhibitor and visitor
areas, with parking and smooth traffic flows another area
that the organisers hope to provide high standards, in
order to make travelling convenient.
About Shanghai International Exhibition Co., Ltd.
(SIEC)
Shanghai International Exhibition Co., Ltd. (SIEC) is
jointly invested by Shanghai World Expo (Group) Co., Ltd.
and the Council for the Promotion of International Trade,
Shanghai. The SIEC was founded on July 1st, 1984 with the
approval of the Ministry of Foreign Trade & Economic
Cooperation and the People's Government of Shanghai
Municipality.
The SIEC is a full member of Union des Foires
Internationales (UFI). The SIEC has held 500 international
exhibitions of various themes and sizes. It also has
successfully held a number of solo exhibitions at national
level.
"AUTO SHANGHAI," "SHANGHAITEX,"
"CHINA CYCLE," "FASHION SHANGHAI,"
"ELE/PT COMM CHINA" are among the first eight
exhibitions approved excellent by THE EVALUATION COMMITTEE
OF SHANGHAI CONVENTIONAL & EXHIBITION INDUSTRIES.
For further information, please contact:
Chen Xiaocong
Show Manager
Add: 8/F,OOCL Plaza, 841 Yan An Zhong Road, Shanghai
200040, China
Tel: +86-21-6279-2828
Fax: +86-21-6545-5124
Email: xiaocong@siec-ccpit.com
SOURCE Shanghai New International Exhibition Center
2007'02.04.Sun
Xinhua Far East Changes Konka Group's Outlook to Negative; Its Issuer Credit Rating Remains BB+
July 10, 2006
HONG KONG, July 10 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings ("Xinhua Far East") today
changed the outlook for Konka Group Co., Ltd.
("Konka" or "the Company", SZ A 000016,
SZ B 200016) to negative from stable. The issuer credit
rating for Konka remains BB+.
The rating action was prompted by deteriorating results
in Konka's handset business amidst an increasingly difficult
operating environment. The negative outlook also reflects
Xinhua Far East's concerns about the Company's stagnant
market position in the wake of a new round of market
restructuring in the domestic LCD-TV market. The rating
action also incorporates the fact that Konka's financial
profile is gradually eroding, a trend which is unlikely to
reverse while the handset and TV markets remain so
competitive.
Konka's handset business suffered greatly in 2005,
mainly as a result of the trying operating environment,
which has been characterized by stagnant growth, new brand
launches and ODM product inflows. Its handset business saw
a 52.7% decline in revenue in 2005 from 2004, a drop which
contributed to most of the company's 79.2% net profit
decline over the same period. The significance of this
business to the Company also diminished in proportion to
total revenue, accounting for 14.8% in 2005 compared to
26.7% the previous year.
Moreover, the negative outlook reflects Xinhua Far
East's concerns about Konka's market position in its
primary market -- TVs. With market demand for LCD-TV
products soaring in China since 2005, both domestic and
foreign market players have increased their exposure,
resulting in greater shipments and plummeting prices.
Konka's TV business has stagnated over this period, with
falling domestic TV market revenues despite higher export
sales (which have come at the expense of lower profit
margins). Xinhua Far East believes the new round of
competition introduced into the domestic TV market will
only intensify in the future, further challenging Konka's
market position and management capability.
At the same time, the Company's financial profile has
been gradually deteriorating. In the two years since 2004,
its net cash flow from operating activity has been negative,
with the trend likely to continue in 2006. Its very thin
EBIT margin is consequently vulnerable to further profit
squeezing. Working to the Company's favor, however, are its
net cash position and low financial leverage, which provide
somewhat of a cushion amidst the fierce competition.
One of China's major TV and handset manufacturers,
Konka reported turnover of RMB11.5 billion in 2005. As of
the end of 2005, its largest shareholder was Overseas
Chinese Town Group Corporation, which held a 15.1% stake.
Konka is a constituent of the Xinhua/FTSE 600 Index and
the Xinhua FTSE China B All-Share Index. As of market close
on July 7, 2006, its total A-share market capitalization and
investable capitalization were RMB1.58 billion and RMB1.18
billion respectively. Its B-share market cap and
investable cap were USD77.0 million and USD30.8 million
respectively as of the same date.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
Note to Editors:
About Xinhua FTSE 600 Index and China B All-Share
Index
Xinhua FTSE 600 Index is a benchmark index comprising
stocks from the Xinhua FTSE 200 and 400, comprising the
largest 600 companies in China, ranked by market
capitalisation. Xinhua FTSE China 200 Index is the large
cap index in the Xinhua FTSE China A Share Index Series and
includes the top 200 companies in China by market cap.
Xinhua FTSE 400 index is the mid cap benchmark index in the
FTSE Xinhua A Index Series, which includes the 400 companies
in China after the top 200, ranked by market capitalisation.
Xinhua FTSE China B All-Share Index is the principle
large cap benchmark index in the Xinhua FTSE China B Index
Series, covering B shares listed on the Shanghai and
Shenzhen stock exchanges, providing international investors
with exposure to the mainland Chinese market. For daily
data and further information, see http://www.xinhuaftse.com
.
About Xinhua Far East China Ratings
Xinhua Far East China Ratings (Xinhua Far East) is a
pioneering venture in China that aims to rank credit risks
among corporations in China. It is a strategic alliance
between Xinhua Finance (TSE Mothers: 9399), and Shanghai
Far East Credit Rating Co., Ltd. Shanghai Far East became
a Xinhua Finance partner company in 2003 and the first
China member of The Association of Credit Rating Agencies
in Asia in December 2003.
Capitalizing on the synergy between Xinhua Finance and
Shanghai Far East, Xinhua Far East's rating methodology and
process blend unique local market knowledge with
international rating standards. Xinhua Far East is
committed to provide investors with independent, objective,
timely and forward-looking credit opinions on Chinese
companies. It aims to help investors differentiate the
credit risks among the corporations in China, thereby,
cultivating their awareness and promoting information
disclosures and transparency in China market.
For more information, see
http://www.xfn.com/creditrating .
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 20 news bureaus
and offices in 19 locations across Asia, Australia, North
America and Europe.
For more information, please visit
http://www.xinhuafinance.com .
About Shanghai Far East Credit Rating Co., Ltd
Shanghai Far East Credit Rating Co., Ltd. is the first
and leading professional credit rating company with
comprehensive business coverage in China. It is an
independent agency established by the Shanghai Academy of
Social Sciences with the mission to develop internationally
accepted standards for capital market in China. The company
is a pioneer in conducting bond-rating business in China.
For years, it has been authorized by the Shanghai branch of
the PBOC to undertake loan certificate credit rating.
Since establishment, it has rated over 1,000 corporate
long-term bonds and commercial papers, based on the
principles of objectivity, fairness and independence. The
company has also maintained over 50% market share in the
loan certificate-rating sector in Shanghai for three
consecutive years. With its strong local presence and
knowledge, it provides investors with unique and the most
insightful credit opinion.
For more information, see http://www.fareast-cr.com .
For more information, please contact:
Hong Kong
Joy Tsang,
Corporate & Investor Communications Director,
Xinhua Finance
Tel: +852-3196-3983, +86-21-6113-5999 or
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
Taylor Rafferty (IR/PR Contact in US)
Ms. Ishviene Arora
Tel: +1-212-889-4350
Email: ishviene.arora@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.04.Sun
Embraer E-Jets Chosen by Mandarin Airlines of Taiwan for Future Fleet Requirements
July 10, 2006
SAO JOSE DOS CAMPOS, Brazil, July 10
/Xinhua-PRNewswire/ -- Embraer (NYSE: ERJ) announced that
Mandarin Airlines has chosen the EMBRAER 190 and EMBRAER
195 E-Jets as the core aircraft for their future fleet
requirements. Mandarin has elected to initially acquire a
fleet of eight aircraft under operating leases and has
signed a contract with GE Commercial Aviation Services
(GECAS) to lease three EMBRAER 190s and five EMBRAER 195s
aircraft. These orders will come from the existing GECAS
backlog.
Both E-Jet types will be configured in a single class
configuration consisting of 104 seats at 31-inch (79 cm)
pitch for the EMBRAER 190 and 116 seats at similar pitch
for the EMBRAER 195s. Deliveries of these aircraft are
scheduled to begin in the second quarter of 2007. In
addition to replacing their existing fleet of Fokker 100s
and Fokker 50s on domestic routes, the Taipei-based carrier
will use the new generation E-Jets to develop short-haul
intra-regional markets throughout Asia.
"The selection of the right fleet is vitally
important to the successful management of an airline. With
this in mind, members of Mandarin Airlines' fleet project
team have spent one and a half years assessing many
different aircraft types, considering the strategic
position of the company in a very competitive environment,
the demand of the future market, the performance of the
aircraft, as well as the maintenance and training support
offered by the manufacturers, etc.," said Michael Lo,
Chairman of Mandarin Airlines. "We finally made our
decision to choose the EMBRAER 190/195 as the main
component of our future fleet. We are pleased and feel
proud to be the first carrier to use these technically
advanced aircraft in this region. We believe that these
aircraft, with their high-tech design and customer-comfort
oriented cabin configuration, will surely enhance flight
safety levels and customer satisfaction, and lead to the
outstanding performance and successful operation of
Mandarin Airlines."
"It is truly gratifying to have Mandarin, one of
Asia's most prestigious and established airlines, select
our E-Jets," said Frederico Fleury Curado, Executive
Vice-President, Airline Market. "From the onset of
their evaluation, it was evident that Mandarin Airlines was
looking for an aircraft capable of meeting very challenging
operational and economic requirements to support their
future business strategy in the very dynamic and developing
Asian marketplace. This decision is yet another confirmation
of our market vision for the E-Jets family."
In conjunction with this transaction, Embraer will
significantly expand its product support network in Asia
Pacific by establishing a spare parts logistics center and
placing a full flight simulator in the region. "We are
in the final stages of selecting locations for this
infrastructure which is targeted at enhancing our support
for Mandarin and the existing E-Jets customer base in the
region. These facilities will be operational before the
start of the second half of 2007," added Curado.
For more information, please contact:
Rosana Dias
Tel: +011-55-12-3927-1311
Email: rosana.dias@embraer.com.br
Pedro Ferraz
Tel: +1-954-359-3414
Email; pedro.ferraz@embraer.com;
Stephane Guilbaud
Tel: +011-331-4938-4455
Email: sguilbaud@embraer.com.fr
Catherine Fracchia
Tel: +011-331-4938-4530
Email: cfracchia@embraer.com.fr
SOURCE Empresa Brasileira de Aeronautica S.A. (Embraer)
2007'02.04.Sun
Fusion Launches efoLink -- Allows Subscribers on Go to Make Low-Cost Calls Without Access to their Softphone or SIP Device
July 10, 2006
New Efonica Plus Service Targets Frequent Travelers With Ease of Service
NEW YORK, July 10 /Xinhua-PRNewswire/ -- Fusion Telecommunications International, Inc. (Amex: FSN), a global VoIP service provider, today added its new efoLink service to its Efonica Plus suite of paid services. efoLink is designed for those Efonica subscribers who may not have access to the Efonica softphone or a SIP-enabled device. Using a simple screen on the Efonica website, http://www.efonica.com , efoLink allows subscribers to enter any two phone numbers and schedule a call. At the pre-selected time, Efonica's advanced system will call both numbers and create a connection. "efoLink is the kind of evolutionary feature that can make Efonica services convenient enough to use each and every time our subscribers want to make a call, no matter where they are, no matter what kind of device they have access to, no matter who they want to call," said Matthew Rosen, President & CEO of Fusion. efoLink complements Fusion's recently announced efoOut service, which allows subscribers to call any landline or mobile telephone number in the world at extremely competitive prices. efoLink is automatically available to all subscribers who sign up for efoOut service. "The introduction of efoLink reinforces our commitment to making the low cost and efficiency of VoIP available even without access to your PC. efoLink is just the beginning of many exciting and innovative new services that Efonica Plus will offer," added Roger Karam, President of Fusion's VoIP Division. Consumers can subscribe to efoOut, which automatically enables efoLink, and other Efonica Plus services at http://www.efonica.com . Efonica Plus is intended to open a new vista of VoIP functionality to subscribers of the Company's newly launched Efonica service. Using Fusion's patent-pending worldwide Internet Area Code(TM), Efonica allows subscribers to make free calls among registered members to and from any combination of PCs, Internet phones and regular telephones (with a SIP adapter), whether they have broadband or dial-up Internet connections. About Fusion: Fusion provides its efonica branded VoIP (Voice over Internet Protocol), Internet access, and other Internet services to, from, in and between emerging markets in Asia, the Middle East, Africa, Latin America and the Caribbean. Fusion currently provides services to consumers, corporations, international carriers, government entities, and Internet service providers in over 45 countries. For more information please go to: http://www.fusiontel.com or http://www.efonica.com . (Logo: http://www.newscom.com/cgi-bin/prnh/20050705/NYTU073LOGO ) Statements in this Press Release that are not purely historical facts, including statements regarding Fusion's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, introduction of products in a timely fashion, market acceptance of new products, cost increases, fluctuations in and obsolescence of inventory, price and product competition, availability of labor and materials, development of new third-party products and techniques that render Fusion's products obsolete, delays in obtaining regulatory approvals, potential product recalls and litigation. Risk factors, cautionary statements and other conditions which could cause Fusion's actual results to differ from management's current expectations are contained in Fusion's filings with the Securities and Exchange Commission and available through http://www.sec.gov . For more information, please contact: FUSION Jonscott Turco Tel: +1-212-201-2401 Email: jturco@fusiontel.com INVESTOR Andrew Hellman CEOcast, Inc. Tel: +1-212-732-4300 Email: adhellman@ceocast.com MEDIA John Henderson Rubenstein Associates Tel: +1-212-843-8054 Email: jhenderson@rubenstein.com SOURCE Fusion Telecommunications International, Inc.
2007'02.04.Sun
KENZO: Reopening/Place des Victoires/July 6, 2006
July 10, 2006
PARIS, July 10 /Xinhua-PRNewswire/ -- The KENZO
Corporation organized a garden party to celebrate the
reopening of its Parisian boutique at Place des Victoires,
under a concept conceived by its artistic director, Antonio
Marras.
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-a )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-b )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-c )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-d )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-e )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-f )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-g )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-h )
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060707/218646-i )
The new boutique takes up 550 square meters of space in
this historic building, where artisans are hard at work
making it a friendly space with its own unique atmosphere.
For this celebration, Place des Victoires was transformed
into an immense 1,100 square meter romantic garden,
animated by living works of art.
Guests included Sophie Marceau, Amira Casar, Marion
Cotillard, Zoe Felix, Guillaume Canet, and many others.
Press release "KENZO Place des Victoires
Concept" available on request.
For more information, please contact:
KENZO PR Department:
Delphine Dichy
Tel: +33-1-7304-2191
Email: ddichy@kenzo.fr
Nicolas Dal Sasso
Tel: +33-1-7304-2194
Email: ndalsasso@kenzo.fr
Fax: +33-1-7304-2146
Address: 1, rue du Pont Neuf - 75001 Paris
SOURCE KENZO
2007'02.04.Sun
Analysys International Says 10.26 Million Music Handsets Sold in China in 2005
July 07, 2006
BEIJING, July 7 /Xinhua-PRNewswire/ -- Analysys
International, a leading Internet based provider of
business information about technology, media and telecom
(TMT) industries in China, says total sales volume of music
handsets reached 10.26 million units in China in 2005, and
the sales volume will reach 45.38 million units by 2010.
According to the research report "China Music
Handsets Annual Report 2006" recently released by
Analysys International, China's music handsets market
developed rapidly in 2005. MP3/MP4 handsets began to
attract consumers' interests and have become focus products
of mobile phone market promotions. Total sales volume of
music handsets reached 10.26 million units in 2005 and by
2010, the sales volume will reach 45.38 million.
http://english.analysys.com.cn/3class/detail.php?id=221&name=report&FocusAreaTitleGB=&daohang=Report
Nokia, Motorola, Sony Ericsson, and Samsung were in the
lead in China's music handset market. Domestic brands have
been trying to improve tone quality, storage capacity, and
layout design to catch up with foreign brands.
Analysys International says the average tone quality of
music handsets has reached the level of mid-range MP3
players. Most music handsets are configured with stereo
earphones and speakers to improve tone quality. Functions
including Equalizer, track selecting and repeat playback
have been implemented on music handsets. Supporting various
music file formats including MP3, WMA and AAC has become the
future development trend. Synchronization of lyrics with
tones is the future development direction.
Embedded storage capacity of music handsets is
generally between 32MB to 64 MB. Storage capacity of music
handsets is increasing, although it is still much smaller
than MP3 players. By the end of 2005, MP3 handsets with
256MB storage capacity or even higher have occurred. In
addition, they have extended memory card interfaces. As the
power consumption of handset chips reduced and battery life
expanded, the standby time of music handsets have been
greatly improved. Individualized layout and interface
design has also become promotion focus.
Analysys International says, Hi-Fi tone quality, large
storage capacity and individuation are the development
direction of music handsets.
This subject is further discussed in Analysys
International's research report "China Music Handsets
Annual Report 2006". For more information, please
check the website: http://english.analysys.com.cn
About Analysys International
Analysys International is the leading Internet based
provider of business information about Technology, Media
and Telecom industry in China. We provide data, information
and advice to 50,000 clients worldwide representing 1,500
distinct organizations, deliver over 150 consulting
engagements a year, and hold more than 20 events that draw
in over 8,000 attendees. Our clients include executives
from companies as technology vendors, vertical information
technology users, as well as professionals from
professional service companies, the investment community
and government agencies. Our mission is simple and clear:
we help our clients make better business decisions. For
more information, please visit our web site at
http://english.analysys.com.cn.
For more information, please contact:
Jessica Wang
Overseas Media Manager
Analysys International
Tel: +86-10-6466-6565 x394
Fax: +86-10-6466-7103
Email: jessica_wang@analysys.com.cn
SOURCE Analysys International
2007'02.04.Sun
Valeo Establishes its Second R&D Centre in China
July 07, 2006
SHANGHAI, China, July 7 /Xinhua-PRNewswire/ -- Valeo
today announced the establishment of a new Research and
Development centre in Shanghai. This technical centre will
design advanced climate control systems for Chinese,
Japanese and European car makers. This latest development
is part of Valeo's strategy to expand its presence in the
fast-growing Chinese automotive market.
When fully operational, the new technical centre will
accommodate up to 60 highly qualified engineers and
technicians who will initially focus on developing
automotive climate control systems for Japanese and
European customers. Valeo enjoys a leading position in its
climate control activity and is a supplier of complete
Heating Ventilation and Air Conditioning (HVAC) systems to
major carmakers in China.
Valeo has grown rapidly in China since it entered the
market in 1994. The Group's first Chinese R&D centre,
which opened in 2004 in Wuhan, develops automotive lighting
systems.
"With its twelve production facilities and two
technical centres employing more than 2,000 people, Valeo
is in a good position to serve both Chinese and global
automakers. This new R&D centre demonstrates Valeo's
continuing commitment to the Chinese automotive industry
and strengthens the Group's twelve-year presence in the
country," said Thierry Morin, Valeo Chairman &
CEO.
Valeo is an independent industrial group fully focused
on the design, production and sale of components,
integrated systems and modules for cars and trucks. Valeo
ranks among the world's top automotive suppliers. The Group
has 134 plants, 68 R&D centres, 9 distribution centres
and employs 70,400 people in 27 countries worldwide.
http://www.valeo.com
For more information, please contact:
Alexandre Telinge,
Group Media Relations & PR Manager
Tel: +33-1-4055-2074
Matthieu de Crevoisier,
Group Media Relations Coordinator
Tel: +33-1-4055-3768
SOURCE Valeo
2007'02.04.Sun
AU Optronics Corp. June 2006 Consolidated Revenues Totaled NT$18.2 Billion
July 07, 2006
HSINCHU, Taiwan, July 7 /Xinhua-PRNewswire/ -- AU
Optronics Corp. ("AUO" or the
"Company") (TAIEX: 2409; NYSE: AUO) today
announced preliminary consolidated June 2006 monthly
revenues of NT$18,206 million and unconsolidated net sales
totaled NT$18,196 million, decreasing 9.6% respectively
from last month. On a year-over-year comparison, June 2006
consolidated revenues increased by 14.1%, while
unconsolidated net sales also rose by 14.1%.
2Q2006 unaudited consolidated and unconsolidated
revenues totaled NT$60,784 million and NT$60,767 million
respectively, representing 31.4% and 32% Y-o-Y growth.
Shipments of large-sized panels(a) used in desktop
monitor, notebook PC, LCD TV and other applications
amounted to 3.25 million, a 4.4% decrease from May 2006.
Shipments of small-and-medium-sized panels totaled 5.15
million, decreasing 14.6% sequentially.
Preliminary shipments of large-sized panels for the
second quarter was 10.09 million, increased 7.7%
sequentially, while shipments for small- and medium-sized
panels rose to total 18.07 million with a 14.3 % increase.
(a) Large-size refers to panels that are 10 inches and
above in diagonal
measurement while small- and medium-size refers to
those below 10
inches.
Sales Report: (Unit: NT$ million)
Net Sales(1) (2) Consolidated(3)
Unconsolidated
June 2006 18,206
18,196
May 2006 20,134
20,127
M-o-M Growth (9.6%)
(9.6%)
June 2005 15,954
15,953
Y-o-Y Growth 14.1%
14.1%
Jan to June 2006 127,036
127,008
Jan to June 2005 85,084
85,010
Y-o-Y Growth 49.3%
49.4%
(1) All figures are prepared in accordance with
generally accepted
accounting principles in Taiwan.
(2) Monthly figures are unaudited, prepared by AU
Optronics Corp.
(3) Consolidated numbers include AU Optronics Corp., AU
Optronics (L)
Corporation, and AU Optronics (Suzhou)
Corporation.
About AU Optronics
AU Optronics Corp. ("AUO") is the world's
third largest manufacturer* of large-size thin film
transistor liquid crystal display panels
("TFT-LCD"), with approximately 15.1%* of global
market share and generated revenue of NT$217.4billion
(US$6.75 bn)* in 2005. TFT-LCD technology is currently the
most widely used flat panel display technology. Targeted
for 40"+ sized LCD TV panels, AUO's next generation
(7.5-Generation) fabrication facility production is
scheduled for mass production in 4Q 2006. The Company
currently operates one 6th-generation, three
5th-generation, one 4th-generation, and three
3.5-generation TFT- LCD fabs, in addition to four module
assembly facilities and AUO Technology Center specializing
in new technology platform and new product development.
AUO is one of few top-tier TFT-LCD manufacturers capable of
offering a wide range of small- to large- size
(1.5"-46") TFT-LCD panels, which enables it to
offer a broad and diversified product portfolio.
* As shown on DisplaySearch Quarterly Large-Area
TFT-LCD Shipment Report
dated June, 2006. This data is used as reference
only and AUO does not
make any endorsement or representation in connection
therewith. 2005
year end revenue converted by an exchange rate of
NTD32.2039:USD1.
For more information, please contact:
Yawen Hsiao
Corporate Communications Dept.
AU Optronics Corp.
Tel: +886-3-5008-899 x3211
Fax: +886-3-5772-730
Email: yawen.hsiao@auo.com
SOURCE AU Optronics Corp.
2007'02.04.Sun
Paradigm Announces Agreement to Acquire Earth Decision
July 07, 2006
Acquisition Enhances Company's Leadership in Next Generation Model-Centric Interpretation for Oil and Gas Industry
AMSTERDAM, Netherlands, July 7 /Xinhua-PRNewswire/ --
Paradigm ("the Company"), the leading software
and consulting provider to the oil and gas industry for
Rock and Fluid Interpretation(TM), announced today a
definitive agreement to acquire Earth Decision, a leading
provider of fully integrated shared-earth modeling for
asset teams. Financial terms of the transaction were not
disclosed.
John Gibson, Executive Chairman and CEO of Paradigm,
said: "Given our shared vision for model-centric
workflows, the acquisition of Earth Decision represents a
tremendous strategic advantage for E&P scientists and
engineers. For true collaboration and real-time decision
making, our customers need an interactive reservoir model
at the center of their workflow. By combining our
complementary technology portfolios this vision becomes a
reality. Asset teams can explore 'what if' scenarios
on-the-fly and determine the best plan for extracting the
full potential from every reservoir safely and
economically. We look forward to working together with
Earth Decision's experienced management team and talented
employees to accomplish our shared objectives."
Jean-Claude Dulac is founder and Chief Architect of
Earth Decision and will remain in the role of Chief
Architect for Paradigm. Dulac said, "We are excited
about joining forces with a proven industry leader and
combining our global presence. We are confident that
together we will be better able to serve our clients by
extending our capabilities. Our goal is to continue to
provide products and services using the highest quality
methods, people, and results. Our strategic technology
platform will be stronger than before with the combined
strengths of the new organization."
With the acquisition of Earth Decision, Paradigm will
have additional resources and technological strengths to
deliver advanced scientific and engineering technologies
for the oil and gas industry. Both companies have a long
history of successfully commercializing and supporting
technology solutions for over 450 exploration and
production customers worldwide.
Jorge Machnizh, Chief Operating Officer of Paradigm,
said: "From a technology standpoint, Earth Decision is
an accomplished E&P innovator and has pioneered some of
the most creative and extensive 3D modeling software in the
industry. The Earth Decision's Suite is recognized as the
industry's leading 3D structural modeling tool. With rig
costs escalating and drilling going deeper in more
geocomplex regions, our combined technologies give
customers a competitive edge."
Paradigm and Earth Decision are announcing this
transaction at a time in the industry when both companies'
customers worldwide are focused on replacing reserves and
dramatically optimizing the use of fixed drilling and
production assets to meet growing demand for oil and
natural gas. The desire to explore in remote areas and
increase recovery from existing assets has driven
additional demand for Paradigm advanced E&P
applications and reservoir consulting services.
The combined company will be called Paradigm and Mr.
John Gibson will remain Executive Chairman and CEO.
Paradigm expects to maintain Earth Decision's global office
network and does not expect significant workforce
reductions.
About Paradigm
Paradigm(TM), founded in 1987, is the leading software
and consulting provider to the oil and gas industry for
Rock and Fluid Interpretation(TM). Paradigm helps global
oil and gas companies safely replace reserves and increase
daily well production in complex geological areas.
Paradigm's advanced technology provides Seismic Data
Processing and Imaging, Prospect Interpretation and
Modeling, Reservoir Characterization, Time-to-Depth
Conversions, Well Planning, and Drilling. Committed to
open standards, Paradigm extends integration to exploration
and production data and third-party applications with the
Paradigm Epos(TM) Data Sharing and Application
Interoperability Framework. The company has a global
network of sales, services and user support, serving major
oil and gas producing regions in 22 countries. You can
learn more about Paradigm by visiting their website at
http://www.paradigmgeo.com .
The following are trademarks or registered trademarks
of Paradigm Geotechnology B.V. or any of its affiliates
(collectively, "Paradigm"): Paradigm(TM),
Paradigm logo and/or other Paradigm products referenced
herein. All other trademarks are owned by their respective
owners.
About Earth Decision
Earth Decision creates the most effective and complete,
integrated decision support tools for profitable exploration
and production. Earth Decision integrated modules provide a
powerful shared-earth model that unlocks the potential of
collaboration by the entire asset team. From advanced
seismic visualization and velocity modeling to well path
design and platform position optimization, Earth Decision
offers workflow-driven solutions for both the novice and
the expert user. The Base Module, powered by GOCAD, is
acknowledged as the industry's leading 3D structural
modeling tool. With simple inputs, the Earth Decision
patented gridding technology, superb property modeling,
robust upscaling and innovative well trajectory solutions
provide the foundation for creating the most complete
shared earth model. Advanced seismic visualization and
interpretation modules ensure that accurate decisions and
calculated uncertainties are made with all available data.
Visit their website at http://www.earthdecision.com .
The following are trademarks or registered trademarks
of Earth Decision Sciences S.A. or any of its affiliates
(collectively, "Earth Decision Sciences"): GOCAD
and logos and/or other products referenced herein. All
other trademarks are owned by their respective owners.
Forward-Looking Statements:
Certain statements in this press release may constitute
forward-looking statements. These statements are made on
the basis of the views and assumptions of the management of
Paradigm and Earth Decision regarding future events and
business performance as of the time the statements are made
and they do not undertake any obligation to update these
statements. Actual results may differ materially from those
expressed or implied. Such differences may result from
legal or regulatory proceedings or other factors that
affect the timing or ability to complete the transactions
contemplated herein, actions taken by either of the
companies, including restructuring or strategic initiatives
(including capital investments or asset acquisitions or
dispositions), as well as from developments beyond the
companies' control. Such developments may affect
assumptions regarding the operations of the businesses of
Paradigm and Earth Decision separately or as combined
entities including, among other things, the timing of the
transaction.
For more information, please contact:
Susan Allen Farrell
Paradigm
Tel: +1-832-567-3747
Email: sfarrell@paradigmgeo.com
SOURCE Paradigm
2007'02.04.Sun
Nano Chemical Systems Holdings Announces Engagement of Patent Attorney
July 07, 2006
Move Will Speed Application Process for Nano Enhanced Mold Inhibitor
SEAFORD, Del., July 7 /Xinhua-PRNewswire/ -- Nano
Chemical Systems Holdings, Inc. (OTC Bulletin Board: NCSH)
announces that Mr. George Barnett of Redwood City,
California, USA has been engaged to file a utility patent
application for the company's nano enhanced mold inhibitor
product. The application will be filed within two weeks and
will allow the company to begin manufacture of this exciting
new product.
"Mold is a worldwide problem. It is both a health
concern and a cause of significant property damage,"
states James Ray, CEO of Nano Chemical Systems Holdings.
"We are very excited by what we have seen from this
product so far." Details on the various application
methods for the new product are under review at this time.
Nano Chemical Systems Holdings, Inc. has a wholly owned
subsidiary, SeaSpray Aerosol, Inc., that produces aerosol
products for its own formulae and does private labeling for
various customers. SeaSpray operates out of a 36,000 square
foot facility that contains offices, research, warehouse and
manufacturing operations. The company is also engaged in
enhancing the effectiveness of its product line using
nanotechnology where applicable.
Certain statements in this release and other written or
oral statements made by or on behalf of the Company are
"forward looking statements" within the meaning
of the federal securities laws. Statements regarding future
events and developments and our future performance, as well
as management's expectations, beliefs, plans, estimates or
projections relating to the future are forward-looking
statements within the meaning of these laws. The forward
looking statements are subject to a number of risks and
uncertainties including market acceptance of the Company's
services and projects and the Company's continued access to
capital and other risks and uncertainties outlined in its
filings with the Securities and Exchange Commission, which
are incorporated herein by reference. The actual results
the Company achieves may differ materially from any
forward-looking statements due to such risks and
uncertainties. These statements are based on our current
expectations and speak only as of the date of such
statements. The Company undertakes no obligation to
publicly update or revise any forward-looking statement,
whether as a result of future events, new information or
otherwise.
Contact: Jillian, Investor Relations, +1-800-388-6401
For more information, please contact:
Jillian,
Investor Relations
Tel: +1-800-388-6401
SOURCE Nano Chemical Systems Holdings, Inc.
2007'02.04.Sun
Analysys International Says China's Systems Integration and Development Market Will Reach RMB 23.49 Billion by 2008
July 06, 2006
BEIJING, July 6 /Xinhua-PRNewswire/ -- Analysys
International, a leading Internet based provider of
business information about technology, media and telecom
(TMT) industries in China, says China's systems integration
and development service market will keep the rapid
development momentum and the market size will reach RMB
23.49 billion by 2008, with compound annual growth rate
(CAGR) of 15.9% from 2005 to 2008.
According to the research report "China Systems
Integration and Development Service Market Annual Report
2006" recently released by Analysys International,
systems integration and development service market reached
RMB 15.1 billion in 2005. Analysys International forecasts
the market size will reach RMB 17.47 billion in 2006.
(http://english.analysys.com.cn/admin/images/1453_1.jpg)
Analysys International says government, finance,
telecom and education will be the fastest growing markets
for systems integration and development services in
Mainland China. Small and midsized enterprises will also
speed up construction of information systems in the coming
few years. Beijing Olympics 2008 will be the catalyst for
the rapid development of systems integration and
development services in the coming years.
Heavy competition in the market will force some service
vendors who don't have core competencies to quit the market;
vendors who have brand and management advantages will play
the role of general contractors; and those vendors who own
profession and industrial advantages will become
sub-contractors.
Analysys International says brand and scale will become
the prime factors that affect clients' selection of systems
integration vendors. Vendors should focus on self-patented
platform products to improve competitiveness and reduce
development costs. Service and development will be the
major revenue sources to systems integration vendors.
This subject is further discussed in Analysys
International's research report "China Systems
Integration and Development Service Market Annual Report
2006". For more information, please check the website:
http://english.analysys.com.cn.
About Analysys International
Analysys International is the leading Internet based
provider of business information about Technology, Media
and Telecom industry in China. We provide data, information
and advice to 50,000 clients worldwide representing 1,500
distinct organizations, deliver over 150 consulting
engagements a year, and hold more than 20 events that draw
in over 8,000 attendees. Our clients include executives
from companies as technology vendors, vertical information
technology users, as well as professionals from
professional service companies, the investment community
and government agencies. Our mission is simple and clear:
we help our clients make better business decisions. For
more information, please visit our web site at
http://english.analysys.com.cn.
For more information, please contact:
Jessica Wang
Overseas Media Manager
Analysys International
Tel: +86-10-6466-6565 x394
Fax: +86-10-6466-7103
Email: jessica_wang@analysys.com.cn
SOURCE Analysys International
2007'02.04.Sun
Cyprotex Launches Mechanism Based Inhibition of Cytochrome P450 Screening Service
July 06, 2006
MANCHESTER, England, July 6 /Xinhua-PRNewswire/ --
Today, (6th July), Cyprotex announces the launch of its new
screening service, designed to help drug discovery teams
identify compounds which are mechanism-based inhibitors of
Cytochrome P450 (CYP450).
The inhibition of human CYP450s is one of the most
common mechanisms which can lead to drug-drug interactions.
Metabolic drug-drug interactions, following the
co-administration of drugs, can result in either reduced
efficacy or increased toxicity. Screening for
mechanism-based inhibition of CYP450 earlier in the drug
discovery process enables researchers to determine and
advance only the compounds which avoid such liabilities,
thereby reducing the possibility of costly late-stage
failures.
Cyprotex's Cloe(R) Screen mechanism-based inhibition
assay identifies compounds which are inhibitors of the
CYP3A4 isoform, one of the most abundant human CYP450s. By
using mass spectrometry as an end-point coupled with
Cyprotex's state-of-the-art automation capabilities, the
Cloe(R) Screen mechanism-based inhibition assay is a high
quality and cost-effective method which offers rapid
turnaround.
The Cloe(R) Screen mechanism based inhibition assay is
a valuable tool in determining drug-drug interactions and
complements Cyprotex's Cloe(R) Screen cytochrome P450
inhibition range of assays. Further mechanism based
inhibition assays, using other industry recommended probe
substrates, are currently in development at Cyprotex.
Dr. Darwin Cheney, Cyprotex's Chief Scientific Officer,
comments on the launch of this new service. "It is well
recognised within the pharmaceutical industry that being
able to identify safe, efficacious compounds with
favourable pharmacokinetic properties, early in the drug
discovery process, saves valuable time and money. The high
quality data and rapid turnaround time provided by the
Cloe(R) Screen mechanism based inhibition assay, allows
researchers to screen early in the drug discovery process,
thereby decreasing the likelihood of progressing compounds
which have the potential to cause drug-drug
interactions."
The Cloe(R) Screen range of in vitro assays is
recognised throughout the drug discovery industry as
providing high quality, reproducible data with an
impressive turnaround time which is ideally placed to suit
early make-test cycles in drug discovery. The services
offered by Cyprotex are invaluable in enabling partner
companies to make informed decisions when selecting
potential drug candidates.
For further information regarding Cloe(R) Screen and
other Cyprotex services visit www.cyprotex.com.
Francesca Sadler
Marketing Manager of Cyprotex PLC,
tel: +44-1625-505-100
Media:
Louise Booth
Limpet Marketing
Tel: +44-1270-621-850
Email: louise.booth@limpetmarketing.co.uk
SOURCE Cyprotex plc
2007'02.04.Sun
GX Technology Selected for Major Onshore Imaging Project
July 06, 2006
Largest Integrated Full-wave Processing Project in Company History
HOUSTON and BEIJING, July 6 /Xinhua-PRNewswire/ -- GX
Technology Corporation (GXT), a leading seismic imaging
services provider and a subsidiary of Input/Output, Inc.
(NYSE: IO), announced today that it has been awarded the
largest full-wave imaging project in the company's history.
GXT was selected by Southwest Branch Company, an operating
subsidiary of the Chinese energy and petrochemical firm
Sinopec (NYSE: SNP), for a comprehensive interpretive
imaging program at the largest gas field in western Sichuan
Province, China. GXT was awarded the contract to identify
high-potential, drillable prospects based on seismic data
that was previously acquired using I/O's VectorSeis(R)
digital full-wave sensors.
Bob Peebler, President and CEO of I/O, commented on the
contract award, "This is an excellent example of our
full-wave solution strategy coming to life. We were
involved in this project from the beginning, helping to
design the survey and to select the technologies that would
be needed to properly image the numerous fractured gas
reservoirs in the area. The data was acquired using I/O's
System Four(TM) outfitted with VectorSeis. At times during
the survey, the contractor had nearly 20,000 live seismic
channels in operation. This provided the sampling density
needed to properly illuminate the reservoir. There is
tremendous excitement throughout our company about what
insights we will be able to provide to our client using
this high density, full-wave data set."
GXT was awarded the processing contract in a
competitive tender against other seismic imaging companies.
A full suite of processing steps will be applied to resolve
subtle properties within the reservoir zones, including
mapping fracture density which is believed to correlate
with well productivity. In addition to applying its
advanced noise attenuation algorithms to extract broadband,
high-resolution P-wave data, GXT will image the converted
(shear) waves, map sub-surface anisotropy using AZIM(TM),
and analyze shear wave splitting in the reservoirs to
determine fracture orientation and intensity.
Xu Xiangrong, President of Southwest Branch Company at
Sinopec, added, "We are convinced of the benefits of
full-wave imaging in this area. Several years ago, we
conducted a pilot test which showed multicomponent seismic
data would be useful in characterizing fractured gas
reservoirs in Sichuan. This gave us the confidence to
undertake a full-scale acquisition program. The raw data
looks promising. GX Technology demonstrated that they had
the necessary capabilities to deliver against the imaging
objectives we had set. In order to meet its increasing
energy needs, China is committed to deploying
state-of-the-art technology. The I/O family of companies
has the type of cutting-edge toolkit, the experienced
personnel, and the collaborative approach we require. I
look forward to our ongoing cooperation on this imaging
program and on other opportunities that may emerge in the
future."
As part of this project, GXT has also been requested to
undertake advanced geophysical and reservoir analyses that
build upon the acquired seismic data, such as determining
reservoir porosity and permeability, evaluating gas
saturation, and mapping sedimentary facies and sequence
stratigraphy. The integrated seismic data sets will
ultimately be used to select new well locations and to
identify other exploitable targets throughout the basin.
Initial imaging work will begin immediately, with final
results of this processing and reservoir characterization
project expected to be delivered in the first half of
2007.
About GX Technology
GX Technology (GXT), a subsidiary of I/O, is a leading
provider of Image-Driven(TM) seismic solutions. Oil &
gas companies engage GXT to produce high fidelity
sub-surface images that reduce the risk and cost of finding
and developing hydrocarbons both onshore and offshore. GXT
solutions include start-to-finish seismic imaging programs,
seismic data conditioning, time processing, PreSTM and
PreSDM, full-wave imaging, and geophysical and reservoir
analysis services. GXT also provides software and services
for seismic acquisition planning, survey design, and
modeling. GXT is a Houston-based company that operates
regional imaging centers in Denver, London, Calgary,
Aberdeen, Caracas, Port-of-Spain, Luanda, and Port
Harcourt.
About I/O
I/O is a leading, technology-focused seismic solutions
provider. The company provides cutting-edge seismic
acquisition equipment, software, and planning and seismic
processing services to the global oil and gas industry.
I/O's technologies are applied in both land and marine
environments, in traditional 2D and 3D surveys, and in
rapidly growing areas like time-lapse (4D) reservoir
monitoring and full-wave imaging. Headquartered in
Houston, Texas, I/O has regional offices in Canada, Latin
America, Europe, China, Russia, Africa and the Middle East.
Additional information is available at http://www.i-o.com .
The information included herein contains
forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Actual results may vary
fundamentally from those described in these forward-looking
statements. All forward-looking statements reflect numerous
assumptions and involve a number of risks and uncertainties.
These risks and uncertainties include risk factors that are
disclosed by I/O from time to time in its filings with the
Securities and Exchange Commission.
For more information, please contact:
Kelly Kline, Director
Corporate Marketing Communications
Tel: +1-281-879-3593
Email: kkline@i-o.com
SOURCE Input/Output, Inc.
2007'02.04.Sun
Bank of China Makes Fast Entry to Xinhua FTSE A Share Index Series
July 06, 2006
HONG KONG and BEIJING, July 6 /Xinhua-PRNewswire/ --
Xinhua FTSE Index (XFI), the joint venture index company
set up by global index provider FTSE Group and China market
specialist Xinhua Finance, announces that Bank of China
(BoC, 601988) will be eligible for inclusion within the
Xinhua FTSE A Share Index Series following its listing on
the Shanghai Stock Exchange yesterday. Because of the large
market capitalization size, the bank will be added under the
new issue rule through the fast track after the close of
business on the fifth day of official trading, i.e. Tuesday
July 11, 2006, and effective from start of trading on
Wednesday July 12, 2006.
With total shares in issue of 177,818,910,740 and
investability weighting of 4%, BoC will be added into
Xinhua/FTSE China A 50 Index. To balance, Shenzhen Chiwan
Wharf Holdings (000022) will be removed. BoC will also be
added to other A Share Indices of 200, 600, All Share, as
well as the Xinhua FTSE Insurance investment index. For
rebalance details, please refer to the technical notice at
here.
The stock is classified under the Subsector
"Banks" (8355) of the Industry Classification
Benchmark. The changes will also be reflected in the
Xinhua FTSE Galaxy Provincial Indices. BoC's weighting
within indices will be confirmed based on its closing price
on the July 11, 2006.
Following the successful A share listing, Bank of China
(H share, 3988) will remain in the Xinhua/FTSE China 25
Index and Xinhua FTSE Hong Kong Index with a decreased
total shares in issue of 76,020,251,269 and an increased
investability weighting of 40%, effective from start of
trading on Wednesday July 12, 2006.
Both the earlier H Share listing and this second A
Share listing of Bank of China will be greeted
enthusiastically by domestic investors who have seen the
restrictions on IPOs lifted recently, as well as by the
international investors who have been given QFII status,
the quota for which has now reached US$ 7,145 million. FXI
have seen great success to date with providing access to the
A Share market with financial products such as the iShares
FTSE/Xinhua A50 China Tracker (2823) which has about HK$
8,000 million invested.
More information on the constituents and Ground Rules,
please visit: http://www.ftsexinhua.com .
Notes to Editors
About Xinhua FTSE Index
Established in late 2000, Xinhua FTSE Index (XFI), a
joint venture between Xinhua Finance Limited and FTSE, came
into being to facilitate the creation of real-time indices
for the Chinese market. The indices can be used as a basis
for the trading of derivatives, index-tracking funds,
Exchange Traded Funds and as performance benchmarks. The
combination of FTSE's expertise in international indexing
with Xinhua Finance's strong presence and capabilities in
China creates a level of expertise in the Chinese market
that is unprecedented. Providing the combined coverage for
the Shanghai and Shenzhen exchanges, all of the Xinhua FTSE
indices are designed according to internationally proven
index methodology to ensure products are transparent, clear
and consistent. For daily data and further information,
please visit http://www.ftsexinhua.com .
About FTSE Group
FTSE Group is a world-leader in the creation and
management of indices. With offices in London, Frankfurt,
Hong Kong, Madrid, Paris, New York, San Francisco, and
Tokyo, FTSE Group services clients in 77 countries
worldwide. It calculates and manages the FTSE Global
Equity Index series, which includes world-recognised
indices ranging from the FTSE All-World Index, the
FTSE4Good series and the FTSEurofirst Index series, as well
as domestic indices such as the prestigious FTSE 100. The
company has collaborative arrangements with the Athens,
AMEX, Cyprus, Euronext, Johannesburg London, Madrid, NASDAQ
and Taiwan exchanges, as well as Nomura Securities, Hang
Seng and Xinhua Finance of China, FTSE recently signed an
agreement with Dow Jones Indexes to develop a single sector
classification system for global investors.
FTSE indices are used extensively by investors
world-wide for investment analysis, performance
measurement, asset allocation, portfolio hedging and for
creating a wide range of index tracking funds. Independent
committees of senior fund managers, derivatives experts,
actuaries and other experienced practitioners review all
changes to the indices to ensure that they are made
objectively and without bias. Real-time FTSE indices are
calculated on systems managed by Reuters. Prices and FX
rates used are supplied by Reuters.
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 20 news bureaus
and offices in 19 locations across Asia, Australia, North
America and Europe. For more information, please visit
http://www.xinhuafinance.com .
For more information, please contact:
Hong Kong
Joy Tsang, Xinhua Finance
Tel: +852-3196-3983 or +86-21-6113-5999
Email: joy.tsang@xinhuafinance.com
Tim Nicholls, FTSE Asia Pacific
Tel: +852-2230-5801
Email: tim.nicholls@ftse.com
Beijing
Catherine Song, Xinhua FTSE Beijing office
Tel: +86-10-5864-5275
Email: catherine.song@xinhuafinance.com
SOURCE Xinhua FTSE Index
2007'02.04.Sun
Onity Expands Operations in China
July 06, 2006
New Shanghai Office Opens with Teams Covering Northern (Beijing), Eastern (Shanghai) and Western (Chongqing) Regions of China
SHANGHAI, July 6 /Xinhua-PRNewswire/ -- Onity, the
world's leading provider of electronic locking solutions,
has expanded the company's China operations with the
opening of a new office in Shanghai today. Onity is a UTC
Fire & Security company, which is a subsidiary of
United Technologies Corp. (NYSE: UTX).
Officially unveiled by Arne Engel, Onity's managing
director for the Asia Pacific region, the office is located
in Pudong, Shanghai's commercial heart. It features a
comprehensive product demonstration gallery and a technical
services facility. The new Shanghai operation also will
house Onity's expanded sales and service teams covering the
Northern (Beijing), Eastern (Shanghai) and Western
(Chongqing & Chengdu) regions of China.
"With our Shanghai operations, Onity is further
demonstrating its commitment to one of the fastest growing
markets in the world," said Engel at the grand
opening. "Shanghai was chosen as our base in China,
since so many of our Chinese customers are located or
headquartered here. However, the new office will also
manage Onity resources deployed as far away as Chongqing,
and will further enhance our customer responsiveness across
China. This sets our service apart from our
competitors."
"The new technical facility is being headed by Mr.
Gary Cheuk, Onity's Greater China technical services
manager, who is a familiar and trusted face to all of our
Chinese customers," he continued.
"I am pleased that Gary will supervise and train
all local technical talent. Furthermore, the facility will
enhance parts availability and repair capabilities across
the country. The product gallery will be used for
demonstrations of Onity's technological solutions and to
provide training for our customers and distribution
partners."
The Shanghai office will supplement Onity's Hong Kong
operation, which will continue to service Southern China
customers due to their close proximity. The Shanghai
office is the 11th Onity office to open in Asia Pacific,
and additional offices and strategic alliances for China
are being planned for the remainder of the year.
Editor's Note:
Electronic images are available by contacting Andrea
Roland at Phoenix Marketing Group, Inc. -- Phone:
407-905-0608 or email: andrea@phoenix-group.us .
About Onity
Onity (formerly TESA Entry Systems, Inc.), the leading
global provider of electronic locking systems, offers
innovative technological solutions and services for the
hospitality, corporate, education, government and marine
markets. The company's ever-expanding family of facility
management solutions includes electronic locks, in-room
safes, and Senercomm(R) energy-management systems. Onity
maintains an extensive sales and service network that spans
more than 115 countries around the globe. Onity is part of
UTC Fire & Security, a subsidiary of United
Technologies Corp. (NYSE: UTX), that provides fire safety
and security solutions to more than one million customers
around the world. UTC Fire & Security is headquartered
in Connecticut, USA. For more information, please visit
http://www.utcfireandsecurity.com . For information about
Onity's electronic hospitality solutions please visit
http://www.onity.com .
For more information, contact:
Arne Engel,
Managing Director, Asia Pacific,
Onity, Inc.
Tel: +886-2-2719-2665
Email: arne.engel@onity.biz
Andrea Roland
Phoenix Marketing Group, Inc.
Tel: +1-407-905-0608
Email: andrea@phoenix-group.us
SOURCE UTC Fire & Security
2007'02.04.Sun
Gemalto Selected for Electronic Passport Roll Out in Slovenia
July 06, 2006
10-Year Contract for Intelligent Devices to be Embedded in the Citizens' e-passports
AMSTERDAM, Netherlands and LJUBLJANA, Slovenia, July 6
/Xinhua-PRNewswire/ -- Gemalto (Euronext NL0000400653 GTO),
a world leader in digital security, today announces it will
provide the technology to be used in electronic passports
for Slovenian citizens. Under the contract, Gemalto will
supply the secure polycarbonate devices embedding its
advanced secure electronic passport software technology to
Cetis, Slovenia's leader in security document printing. One
million passports are currently in use in Slovenia and the
government intends to roll out the first electronic
passports as from end of August this year.
The contract involves 600,000 devices to be supplied by
2016. Gemalto has already delivered a first batch of 50,000
products to Cetis, who will deploy the corresponding number
of e-passports by year's end.
In Slovenia, which has approximately 2 million
inhabitants, citizens of all ages travelling abroad must
carry a personal ID or passport. By migrating to
chip-enabled travel documents, Slovenia is complying with
the European Union's mandate requiring its member states to
adopt the technology by August 2006.
The technology provided by Gemalto includes a highly
secure operating system with advanced cryptographic
features running on a large capacity contactless chip.
Gemalto's solution is designed to support governments and
its secure printing agencies and partners in their
migration to chip-enabled passports. This complete program
also includes assistance to booklet machine manufacturers
and national printing offices in mass producing and
personalizing electronic passports using the industry
leader's experience in security.
"With Gemalto's technology, Cetis will be able to
achieve distribution of electronic passports that offer the
highest levels of security," commented Jacques Seneca,
President Europe at Gemalto. "This new success
reinforces Gemalto's position as a major player in the
field of e-ID programs, and further strengthens Gemalto's
presence in Central Europe."
About Gemalto
Gemalto (Euronext NL 0000400653 GTO) is a leader in
digital security with pro forma 2005 annual revenues of
EUR1,7 billion ($2.2 billion), operations in 120 countries
and 11,000 employees including 1,500 R&D engineers. The
company's solutions make personal digital interactions
secure and easy in a world where everything of value --
from money to entertainment to identities -- is
increasingly represented as bits and bytes communicated
over networks.
Gemalto thrives on creating and deploying secure
platforms, portable and secure forms of software in highly
personal objects like smart cards, SIMs, e-passports,
readers and tokens. More than a billion people worldwide
use the company's products and services for
telecommunications, banking, e-government, identity
management, multimedia content, digital rights management,
IT security and other applications. Gemalto was formed in
June 2006 by the combination of Axalto and Gemplus
International S.A. For more information please visit
http://www.gemalto.com .
For more information, please contact:
Media
Emmanuelle Saby
Gemalto
Tel: +33-1-55-01-57-27
Mobile: +33-6-09-10-76-10
Email: emmanuelle.saby@gemalto.com
Investor Relations
Stephane Bisseuil
Gemalto
Tel: +33-1-55-01-50-97
Mobile: +33-6-86-08-64-13
Email: stephane.bisseuil@gemalto.com
TBWA\Corporate
Emlyn Korengold
Tel: +33-1-49-09-66-51
Mobile: +33-6-08-21-93-74
Email: emlyn.korengold@tbwa-corporate.com
SOURCE Gemalto
2007'02.04.Sun
Peabody Energy Signs Agreement to Acquire Major Australian Coal Producer Excel Coal
July 06, 2006
-- Peabody presence in world's largest coal exporting
nation
to triple in coming years
-- Diverse metallurgical and thermal products serve
fastest-growing
markets
-- Significant growth platform from major expansion
projects
-- Accretive to earnings and cash flows in 2007
-- 500 million tons of metallurgical and thermal
reserves to fuel
long-term growth
-- Substantial operational, marketing and
transportation synergies
ST. LOUIS, July 6 /Xinhua-PRNewswire/ -- Peabody Energy
(NYSE: BTU) announced today that it has signed a merger
implementation agreement to acquire Excel Coal Limited
(ASX: EXL). Under the terms of the agreement, Peabody will
pay A$8.50 per share (US$6.21) in cash for all outstanding
shares, representing a total acquisition price of
approximately US$1.34 billion plus assumed debt of
approximately US$190 million.
The acquisition is expected to be accretive to earnings
per share and cash flows in 2007, and significantly
accretive beyond as new capacity comes online. The
transaction represents a 10.2 percent premium over Excel's
one-month weighted average share price.
Peabody Energy is the world's largest private-sector
coal company, and Excel Coal is one of the largest
independent coal companies in Australia.
"This transaction increases Peabody's position in
the world's largest coal-exporting nation, and marks
another step in our strategy to expand into high-growth
global markets," said Peabody President and Chief
Executive Officer Gregory H. Boyce. "The combined
entity creates one of the largest coal companies in
Australia with some of the highest-quality products, mines
and reserves. Excel is clearly the premier independent
coal company in Australia, and we have very high regard for
both the people and the assets."
Nearly one-third of the world's coal exports come from
Australia, and the U.S. Energy Information Administration
projects that Australian coal exports are expected to
increase 55 percent by 2030. Australian metallurgical and
thermal coal serves the fast-growing Asian markets that
will account for the majority of growth in the global coal
industry in coming decades.
The combination of Peabody's Australian operations and
Excel's assets creates a major new player in the Australian
coal sector, with substantial market diversity, a broad
portfolio of metallurgical and thermal coal products, both
domestic and seaborne customers, and the capacity to
utilize multiple railroads and ports.
Peabody currently produces 9 million tons of mostly
metallurgical coal per year in Queensland. The purchase
provides Peabody with extensive growth opportunities from
its core operations, along with major metallurgical and
thermal coal mines in the latter stages of development by
Excel Coal. Excel produced approximately 5.6 million tons
of coal in calendar year 2005. Excel operations are
expected to produce up to 15 million tons in calendar year
2007, and up to 20 million tons per year in 2008, from coal
mines in New South Wales and Queensland. The transaction
also provides substantial synergies in the areas of sales
and trading, and reserve holdings in Queensland near
existing Peabody operations. Excel has more than 500
million tons of metallurgical and thermal coal reserves.
(Photo:
http://www.newscom.com/cgi-bin/prnh/20060705/CGW049 )
The acquisition would greatly expand Peabody's existing
Queensland base. In the past five years, Peabody purchased
the Wilkie Creek thermal coal mine, acquired the Burton and
North Goonyella metallurgical coal mines, developed the
Eaglefield metallurgical mine, and developed the Baralaba
thermal and PCI mine. It also marks a return to New South
Wales, where the company has significant experience and
success.
The transaction by way of "Scheme of
Arrangement" is subject to various approvals including
regulatory, court, Excel shareholders, and other conditions.
Excel's directors have agreed not to solicit alternative
proposals or competing transactions and not to respond to
unsolicited approaches except as required by their
fiduciary duties. In addition, Peabody is entitled to a
reimbursement fee of A$18 million under certain situations
outlined in the merger implementation agreement. Closing
is targeted for early in the fourth quarter 2006.
Peabody Energy is the world's largest private-sector
coal company, with 2005 sales of 240 million tons of coal
and $4.6 billion in revenues. Its coal products fuel
approximately 10 percent of all U.S. and 3 percent of
worldwide electricity.
[One ton equals 0.9 metric tons, or tonnes.]
Peabody Energy will hold a conference call with
investors at 10:00 a.m. CDT on Thursday, July 6.
Participants should call (888) 428-4480 in the United
States or (651) 291-0900 internationally. Slides and a
replay of the call will be available on PeabodyEnergy.com
.
EXCEL COAL MINES AND PROJECTS
Excel's major assets include:
Wambo Open-Cut Mine: This Hunter Valley operation
produces a premium thermal coal and serves export customers
from the Port of Newcastle. Wambo produced 3.3 million tons
in CY2005, and production is expected to grow to more than 5
million tons per year by 2008.
North Wambo Underground Mine: This thermal and
semi-soft coking coal operation is under development and
expected to begin shipments in early 2007. The mine is
planned to produce 3 million tons per year of export coal
and ship to customers through the Port of Newcastle.
Metropolitan Mine: This longwall operation produced
1.7 million tons of hard and semi-hard coking coal in 2005.
Metropolitan serves domestic and export steel producers,
shipping from Port Kembla.
Wilpinjong Mine: This new open-cut mine is expected to
produce more than 5 million tons in 2007, and is scheduled
to ramp up to more than 7 million tons per year within two
years. The thermal coal will be shipped to export
customers through the Port of Newcastle in addition to
serving a domestic electricity generator.
Millennium Mine: This open-cut mine is in the Bowen
Basin near Peabody's existing metallurgical coal mines.
Millennium is expected to begin shipments of its
hard-coking coal later this year, with 2007 production of 2
million tons and reaching up to 3 million tons per year by
2009. Millennium offers rail and port synergies with
Peabody's existing operations.
Conarco Farm-In Agreement: Through a farm-in agreement
with the Conarco Group, Excel may earn up to a 75 percent
interest by the staged spending of A$6 million over the
next several years in each of two areas that cover a
combined 670,000 hectares in Queensland near existing coal
mines and infrastructure.
Reserves: Excel Coal controls more than 500 million
tons of proven and probable metallurgical and thermal coal
reserves, and substantial additional coal resources, in
Queensland and New South Wales Australia.
Certain statements in this press release are
forward-looking as defined in the Private Securities
Litigation Reform Act of 1995. These statements involve
certain risks and uncertainties that may cause actual
results to differ materially from expectations as of July
5, 2006. These factors are difficult to accurately predict
and may be beyond the control of the company. These risks
include, but are not limited to: growth in coal and power
markets; future worldwide economic conditions; economic
strength and political stability of countries in which we
have operations or serve customers; weather; transportation
performance and costs, including demurrage; ability to renew
sales contracts; successful implementation of business
strategies; regulatory and court decisions; legislation and
regulations; negotiation of labor contracts and labor
availability and relations; capacity and cost of surety
bonds and letters of credit; effects of changes in currency
exchange rates; risks associated with customers, including
credit risk; risks associated with performance of
suppliers; availability and costs of key commodities such
as steel, tires, diesel fuel and explosives; performance
risks related to high-margin metallurgical coal production;
geology and equipment risks inherent to mining; terrorist
attacks or threats; replacement of reserves; inflationary
trends; effects of interest rates; effects of acquisitions
or divestitures; success in integrating new acquisitions;
revenues related to synthetic fuel production; revenues and
other risks detailed in the company's reports filed with the
Securities and Exchange Commission (SEC). The use of
"Peabody," "the company," and
"our" relate to Peabody, its subsidiaries and
majority-owned affiliates.
For more information, please contact:
Vic Svec
Tel: +1-314-342-7768
Web: http://www.peabodyenergy.com
SOURCE Peabody Energy
2007'02.04.Sun
Sidley Austin Advises on the Ground-Breaking Privatization of Asia Aluminum
July 06, 2006
HONG KONG, July 6 /Xinhua-PRNewswire/ -- International
law firm Sidley Austin has advised the acquiror management
team in financing the successful "going private"
transaction involving Asia Aluminum Holdings Limited
through which the controlling shareholder and management of
Asia Aluminum acquired 100% of its capital stock and
delisted Asia Aluminum from the Stock Exchange of Hong
Kong.
Through its special-purpose vehicle, AA Investments
Company Limited, the Asia Aluminum management team financed
the acquisition through US$535,000,000 payment-in-kind, or
"PIK" Notes, which were issued in two tranches
with detachable warrants. The notes were listed on the
Singapore Stock Exchange.
Pursuant to a scheme of arrangement in Bermuda, the
privatization was effected by court order after an offer to
the shareholders. The financing transaction, which funded
the privatization scheme, closed after the scheme of
arrangement had been ratified in Bermuda, and Asia Aluminum
was de-listed from The Stock Exchange of Hong Kong Limited
at the same time.
The covenant package for the PIK notes and warrants was
structured to wrap around the existing "high
yield" covenants in Asia Aluminum's outstanding
US$450,000,000 8.00% Senior Notes due 2011. In addition,
the multi-jurisdictional aspects of the transaction,
involving several regulatory authorities and timing issues,
presented unique challenges for the Sidley team.
Merrill Lynch acted as financial advisers to AA
Investments.
Matthew Sheridan, a partner based in Sidley's Hong Kong
office, led the Sidley team. Mr. Sheridan commented,
"The Asia Aluminum transaction took six months to
structure, negotiate and complete but it was time
well-spent. We are very pleased to have once again assisted
Asia Aluminum and its management team in achieving their
corporate goals. We are also pleased to have contributed to
creating a template for future leveraged privatization
transactions in Hong Kong and throughout Asia."
Asia Aluminum is the largest manufacturer of aluminum
extrusion products in China.
In December 2004, Sidley Austin advised Asia Aluminum
as U.S. and Hong Kong counsel in connection with its
issuance of US$450,000,000 8.00% Senior Notes due 2011.
The high-yield issuance marked Asia Aluminum's first
international debt offering and required integrating the
roadshow launch and pricing with compliance issues under
the Listing Rules in Hong Kong.
NOTE TO EDITORS: Sidley is one of the world's largest
full-service law firms, with more than 1,600 lawyers
practicing in 15 offices on 3 continents (Asia, Europe and
the U.S.). We are consistently ranked at the top of the
Thomson Financial league tables. For 2005, we were ranked
as:
-- top issuer counsel and third as underwriter counsel
for U.S. debt,
equity and equity-related offerings;
-- top issuer counsel and top underwriter counsel for
U.S. investment
grade debt; and
-- top issuer counsel and third underwriter counsel for
U.S. straight debt,
including asset-backed and mortgage backed
securities.
In Asia, lawyers in the corporate finance team advise
clients on U.S., Hong Kong and English law in connection
with all types of equity, debt and equity-linked
transactions, including SEC-registered offerings in the
United States, international securities offerings pursuant
to Rule 144A and Regulation S governed by U.S. and English
law, The Stock Exchange of Hong Kong Main Board and Growth
Enterprise Market (GEM) listings, and issuances involving
the creation of ADR or GDR programs.
In 2005, Sidley ranked first in relation to the number
of transactions advising issuers and first (tied) in
relation to the number of transactions advising
underwriters for listings on The Stock Exchange of Hong
Kong Mainboard. (Asian Legal Business, Jan 2006)
For more information, please contact:
Matthew Sheridan, Partner,
Sidley Austin
Tel: +1-852-2901-3886
Email: msheridan@sidley.com
Lisa Kong,
Marketing Manager,
Sidley Austin
Tel: +1-852-2509-7899
Email: lkong@sidley.com
SOURCE Sidley Austin
2007'02.04.Sun
Globeleq Completes Purchase of Asia Power Assets
July 05, 2006
HOUSTON, July 5 /Xinhua-PRNewswire/ -- Globeleq, the
emerging markets power company, announced today the
completion of the purchase of power assets in Pakistan and
Bangladesh from El Paso Corporation. The purchase of
additional assets in South and Southeast Asia is expected
to close later in 2006. The transaction was announced in
mid-2005.
This closing includes a significant interest in Fauji
Kabirwala, a 157 megawatt (MW) natural gas fired generator
in Pakistan. The acquisitions of a significant interest in
NEPC, a 113 MW natural gas fired generator in Bangladesh,
closed earlier in the year.
Arun Sen, Globeleq Executive Vice President for Asia,
commented, "This closing is a significant milestone in
our strategy in Asia. As our business in Asia continues to
develop, we will be in a position to meet the growing
demand for efficient, reliable generation."
In addition to these newly-acquired assets in Pakistan
and Bangladesh, Globeleq owns and operates over 800 MW of
natural gas-fired generation in Bangladesh and has
interests in power plants in India and Sri Lanka.
With more than $1.5 billion in assets, Globeleq is the
only operating power company solely focused on the emerging
markets of Africa, the Americas and Asia. The company owns
more than 2,500 MW of generating capacity globally and one
national power distribution company. Globeleq is actively
pursuing acquisitions and new project development.
Globeleq, Ltd., the parent company of the Globeleq group of
companies, is a Bermuda-registered corporation.
For more information, please contact:
Stephen B. Morisseau
Globeleq
Tel: +1-713-355-3450
Email: stephen.morisseau@globeleq.com
SOURCE Globeleq
2007'02.04.Sun
W.P. Stewart & Co., Ltd. Declares Quarterly Dividend
July 05, 2006
HAMILTON, Bermuda, July 5 /Xinhua-PRNewswire/ -- W.P.
Stewart & Co., Ltd. announced today that it has
declared a regular quarterly dividend of US$0.30 per common
share. The dividend is payable on 28 July 2006 to
shareholders of record as of 14 July 2006.
W.P. Stewart & Co., Ltd. is an asset management
company that has provided research-intensive equity
management services to clients throughout the world since
1975. The Company is headquartered in Hamilton, Bermuda
and has additional operations or affiliates in the United
States, Europe and Asia.
The Company's shares are listed for trading on the New
York Stock Exchange (NYSE: WPL) and on the Bermuda Stock
Exchange (BSX: WPS).
For more information, please visit the Company's
website at http://www.wpstewart.com , or call W.P. Stewart
Investor Relations (Fred M. Ryan) at 1-888-695-4092
(toll-free within the United States) or +441-295-8585
(outside the United States) or e-mail to
IRINFO@wpstewart.com .
For more information, please contact:
Fred Ryan,
W.P. Stewart & Co., Ltd.
Tel: +1-441-295-8585
SOURCE W.P. Stewart & Co., Ltd.
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