2007'02.01.Thu
AIAG to Support China Automotive Supply Chain with New Shanghai Office
March 27, 2006
Dr. Yilong Chen Named General Director of Asia-Pacific Affairs and Chief Representative
DETROIT, March 27 /Xinhua-PRNewswire/ -- The Automotive
Industry Action Group (AIAG), a not-for-profit automotive
trade association, is strengthening its first Asian
initiative to support the supply chain in China with the
opening of a representative office in Shanghai and the
appointment of respected scientist and industry pioneer Dr.
Yilong Chen to lead the initiative. He is AIAG's general
director of Asia-Pacific affairs and chief representative
in China.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20040719/DEM007LOGO )
AIAG members, including DaimlerChrysler AG, Ford Motor
Co., General Motors Corp. and major automotive suppliers,
are growing their businesses rapidly in China. At the same
time, Chinese automotive OEMs and suppliers are eager to
improve their quality and export capability. By
establishing an AIAG representative office in China,
Detroit-based AIAG is strongly committed to support its
members' needs in China and to bridge the gap in the
Chinese supply chain via common standards and tools to
improve quality, increase efficiency and competitiveness.
Founded in 1982 by a group of visionary leaders from
DaimlerChrysler, Ford and GM, AIAG has a long history of
being the catalyst for the global automotive industry's
efforts to establish a seamless, efficient and responsible
supply chain. The appointment of Dr. Chen to lead the
China initiative demonstrates AIAG's level of commitment in
addressing the many challenges and opportunities in China
and in establishing a win-win partnership with the Chinese
automotive industry.
"To sustain the forecasted growth of the
automotive market in China, it is imperative that we deploy
best practices and standards throughout the Chinese portion
of the supply chain," said J. Scot Sharland, AIAG
executive director. "AIAG is prepared to work with
Chinese suppliers and accelerate the development of
world-class business processes to meet the emerging needs
of the global automotive industry in areas such as systems
interoperability, quality and warranty.
"Dr. Chen's technical expertise, extensive
experience and proven track record of successful relations
with the Chinese automotive industry, government and
academia will allow him to make a positive impact
immediately. He is the ideal candidate to help AIAG elevate
its commitment to the industry in China and the rest of
Asia."
During the past ten years, Dr. Chen has been actively
involved in nurturing high-level relationships with the
Chinese government, automotive industry and academia for
General Motors Corp. He is one of the pioneers in
developing GM's business in China. As the chief scientist
and director of technology development and partnership of
GM's China operations, he established and managed
GM/Delphi-Tsinghua Technology Institute in Beijing and
GM-Shanghai Jiaotong Powertrain Technology Institute in
Shanghai. He initiated and managed technology
collaborations with Chinese partners for GM. He also
launched and managed the GM China Science & Technology
award program with the Chinese National Science Foundation.
In 1997, he received the GM President Council honor, which
recognizes employees who represent the "Best of the
Best" in terms of performance at all levels throughout
GM. As a GM technical fellow, he led research in the areas
of robotics, wireless, RFID and supply chain quality. He
also received the GM McCuen Award, which provides
recognition for extraordinary technical accomplishments and
their economic impact to the company. Because of his
outstanding technical contributions, Dr. Chen was elected
an IEEE Fellow in 1999.
About AIAG
Founded in 1982, AIAG is a globally recognized
organization where OEMs and suppliers unite to address and
resolve issues affecting the worldwide automotive supply
chain. AIAG's goals are to reduce cost and complexity
through collaboration; improve product quality, health,
safety and the environment; and optimize speed to market
throughout the supply chain. Dedicated to the continuous
improvement of business practices, AIAG also provides
educational resources and publications including many
quality-related products such as ISO/TS 16949 publications
as well as manuals from DaimlerChrysler AG, Ford Motor Co.
and General Motors Corp. Headquartered in the metro
Detroit area, its more than 1,500 member companies include
North American, European and Asia-Pacific OEMs and
suppliers to the automotive industry. Additional
information is available on the Internet at
http://www.aiag.org .
For more information, please contact:
Leslie Santos-Cotham,
Automotive Industry Action Group
Tel: +1-248-358-9794
SOURCE Automotive Industry Action Group
PR
2007'02.01.Thu
The9 to Present at Credit Suisse Asian Investment Conference
March 27, 2006
SHANGHAI, China, March 27 /Xinhua-PRNewswire/ -- The9
Limited (Nasdaq: NCTY), a leading online game operator in
China, today announced it will present at the Credit Suisse
Asian Investment Conference. The conference will be held
from March 28 to March 31, 2006 at the Island Shangri-La
Hotel, Hong Kong. Mr. Jun Zhu, The9's Chairman and Chief
Executive Officer, and Miss Hannah Lee, Vice President
& Chief Financial Officer, are scheduled to present at
5:05 p.m. Beijing time on Wednesday, March 29, 2006.
The Credit Suisse Asian Investment Conference has
established itself as one of the biggest Asian investment
conferences with more than 150 companies from Asia
participating. Credit Suisse has invited top officials
from governments, central banks, multilateral agencies and
a number of leading academic institutions from around the
world to this four-day investment conference.
About The9 Limited
The9 Limited is a leading online game operator in
China. The9's business is primarily focused on operating
and developing MMORPGs for the Chinese online game players
market. The9 directly or through affiliates operates
licensed MMORPGs, consisting of WoW, MU and Mystina Online,
in China. It has also obtained exclusive licenses to
operate additional MMORPGs in China, including Granado
Espada and Soul of The Ultimate NationTM. In addition,
The9 has developed its first proprietary MMORPG titled
"Joyful Journey West", which entered all-access
public open beta testing in August 2005.
For further information about The9, please contact:
Ms. Dahlia Wei
Investor Relations - Senior Manager
The9 Limited
Tel: +86-21-5172-9990
Email: IR@corp.the9.com
Website: http://www.corp.the9.com
SOURCE The9 Limited
2007'02.01.Thu
IBAX Places Multi-Million Dollar Order With Navini to Drive WiMAX in Italy;
March 27, 2006
Expansion of Personal Broadband to Address the Digital Divide in Italy
RICHARDSON, Texas and BASIGLIO (MILAN), Italy, March 27
/Xinhua-PRNewswire/ -- IBAX Group, Navini's long time
exclusive partner in Italy, has placed a substantial order
for Navini's Ripwave(TM) MX pre-mobile WiMAX solution.
IBAX plans to launch and expand municipal and resort
networks as well as build out nation-wide solutions for the
Public Administration in Italy.
"We are addressing the digital divide issues that
exist in Italy," said Mr. Ugo de Fusco, Founder and
CEO of IBAX. "WiMAX is the answer bringing broadband
and new mobile applications to vast areas of the country,
not previously possible with ADSL or ISDN. The benefits of
using pre-mobile WiMAX today include very easy plug and
play, portable operation and quick deployment in both
indoor and outdoor areas with no phone line required.
Customers can also use wireless broadband to bring WIFI to
their home or office environment and enjoy the financial
advantages of Voice over IP (VoIP)."
This initial order for Navini's Ripwave(TM) MX solution
includes 200 of the industry's first 802.16e dual-mode base
stations as well as customer premise equipment -- making it
the largest single MX order to date in Europe.
"This is a significant commitment for Italy and
Navini Networks is delighted to be providing the world's
most popular portable broadband wireless network solution
to the European mass market," said Roger Dorf,
president and chief executive officer of Navini Networks.
"In addition to providing personal broadband to the
mass market and closing the digital divide, Navini's mobile
WiMAX solution is particularly well suited for vertical
business applications such as security, public safety or
even real estate."
"The Italian WiMAX market will consist of millions
of users (CPEs) and thousands of BTSs," said Ugo de
Fusco. "We know that Navini's equipment delivers most
of the characteristics of mobile WiMAX today and Navini's
experience clearly demonstrates that they have mastered the
complexities of large deployments," added de Fusco.
"The new Ripwave(TM) MX platform provides seamless
software upgrades to IEEE 802.16e."
Municipal deployments will continue over hundreds of
other municipalities with deep historical and artistic
roots that attract tourists and industry driving the need
for broadband, including resort cities such as Venice or
Siena.
IBAX, funded by Mr. Ugo de Fusco and private capital,
has entered strategic alliances with major players to serve
the Italian Public Administration and major Ministries,
selected Navini Networks' smart beamforming technology
because of its robustness with unusual applications and
harsh environments. IBAX experience with Navini systems
covers the entire gamut of frequencies, from 2.3 to 3.6GHz,
supported by the same software.
In the face of the lack of frequencies for telecom
operators in Italy, IBAX has demonstrated the viability of
private networks for municipalities that lack broadband
access in such fashionable resort areas like Bormio, in the
Italian Alps, which hosted the 2005 Winter Skiing events.
Last October's regulatory changes have liberalized the use
of free frequencies, creating business opportunities for
hundreds of small telecom start-ups.
About Navini Networks
With the largest commercial deployments in the world,
over 50 commercial networks in 6 continents and strategic
partnerships with industry leaders, Navini Networks is the
world leader in providing portable, plug-n-play broadband
wireless access solutions. Navini is the only company that
has the patented smart beamforming technology, enabling
personal broadband for the mass market today, with a
seamless upgrade to the Mobile WiMAX standard to deliver
Smart WiMAX(TM). (Smart WiMAX(TM) is the combination of
mobile WiMAX and Smart beamforming which is critical for
true personal broadband). Navini's Ripwave(TM) MX
portable, zero-install, non-line-of-sight (NLOS) product
line consists of customer modems, base stations, and
element management systems (EMS) run in the full range of
spectrums. The Navini Ripwave(TM) MX product line offers
the industry's first dual-mode CPEs and PCMCIA cards as
well as base stations, with software upgrades to the IEEE
802.16e standard.
Navini Networks is a principal member of the WiMAX
Forum and the IEEE 802.16e committee and is headquartered
in Richardson, Texas, USA. http://www.navini.com .
About IBAX s.c.r.l.
Founded in 2001 IBAX is dedicated to the design,
deployment and operations of Wireless Broadband networks.
As exclusive partner of Navini in Italy, IBAX insures that
each product sold meets the ETSI standards and its sale is
authorized by the Ministry of Communications. IBAX will
serve large carriers as soon as they secure WiMAX
frequencies. Presently IBAX is helping dozens of new
companies to serve small communities creating new
employment in over 80% of the country where ADSL is scarce
or not available at all. http://www.ibax.it .
For more information, please contact:
Maryvonne Tubb,
Navini Networks
Tel: +1-972-852-4247
Email: mtubb@navini.com
Elisabetta Consolati,
IBAX Group
Tel: +39-02-3654-9170
Email: elisabetta_consolati@ibax.it
SOURCE Navini Networks; IBAX Group
2007'02.01.Thu
Xinhua Far East Assigns A+ Issuer Credit Rating to China Shipping Development Co., Ltd.
March 27, 2006
HONG KONG, March 27 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings today assigned China Shipping
Development Co., Ltd. ("the Company" or
"CSD," SH A 600026; HK 1138) with an A+ domestic
currency issuer credit rating. The Company's rating
outlook is stable.
The rating reflects CSD's strong market position in its
core domestic coastal oil shipping and domestic coastal coal
shipping businesses. In 2004, the Company held more than
half the market share and 23% market share in the two
respective markets, largely as a result of its superior
operating capacity and the entrance barriers faced by
foreign carriers.
The "domestic oil transported by domestic
companies" policy pursued by China's government
reflects the government's intention to secure energy
security and protects Chinese players from potential
competition. The huge energy demands of China's growing
domestic economy also have put the Company in a good
position.
The rating also takes into account the Company's ample
cash reserves, stable debt maturity structure, conservative
financial leverage, effective cost controlling and sound
cash flow generating capacity.
However, the cyclical nature of the shipping industry
and the downside movement of freight rates in CSD's main
businesses could put the Company's performance under
greater pressure, although these concerns are partly
allayed by the fact the Company delivered sound performance
during the shipping industry's slump in 2001.
Xinhua Far East's rating action takes into
consideration the adverse effect of a possible slowdown in
China's economy, as well as diffusion effects from oil
pipeline transportation projects, ongoing high fuel costs,
projected huge capital expenditure for its new fleet, and
the Company's ongoing restructuring of its dry cargo
business with its parent company.
China Shipping Development Co., Ltd. held more than
half the market share in the domestic coastal oil shipping
market and 23% market share in the domestic coastal coal
shipping market in 2004. The Company is also involved in
the business of oil ocean transportation and other dry bulk
cargo shipment, including ores and fertilizers. As of
December 31, 2004, the Company's operated total oil tanker
fleet of 2.69 million DWT and dry cargo fleet of 2.38
million DWT. In 2004, the Company reported turnover and
EBIT of RMB6,136 million and RMB2,145 million
respectively.
China Shipping Development Co., Ltd. is a large cap
company in the Xinhua/FTSE China A50 Index, and, as of
March 24, 2006, its total market cap was RMB11.8 billion
with investable market cap of RMB2.4 billion.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
Note to Editors:
About Xinhua FTSE China A50 Index
The Xinhua FTSE China A50 Index is a real-time tradable
index comprising the largest 50 A Share companies by full
market capitalization. Designed to meet the needs of
QFIIs, it can be used as a basis for both on-exchange and
OTC derivative products, mutual funds and ETFs. For daily
data and further information, see http://www.xinhuaftse.com
. 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 21 news bureaus
and offices in 18 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, +8621-6113-5999 or
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
David Leeney,
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: david.Leeney@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.01.Thu
United Business Media Expands Events Presence in China
March 27, 2006
LONDON, March 27 /Xinhua-PRNewswire/ -- United Business
Media plc today announced that its CMP Asia division has
expanded its events business in China with the joint
acquisition of a majority stake in the Guangzhou Beauty
Fair. The acquisition is being made with BolognaFiere
Group, CMP Asia's joint venture partner for its Asian
beauty industry events. CMP Asia and BolognaFiere Group
will also launch a new event, Cosmoprof Shanghai, with the
first show scheduled for January 2007.
The Guangzhou Beauty Fair, formally known as the
Guangzhou International Beauty & Cosmetic Import-Export
Expo, attracts more than 3,000 exhibitors and 200,000
visitors to each show. The Fair has been held since 1989,
twice a year since 1996, and is the biggest such event in
mainland China.
CMP Asia and BolognaFiere Group will work with the
organisers of the Guangzhou Beauty Fair to promote this
all-China event to build the presence of international
manufacturers and buyers as both exhibitors and visitors.
Both the Guangzhou Beauty Fair and the new Cosmoprof
Shanghai event will serve as strong regional extensions of
CMP Asia's existing exhibition Cosmoprof Asia which it
co-owns with the Bolognafiere Group. Held annually in Hong
Kong, Cosmoprof Asia is the leading Asia-Pacific
international beauty industry event.
CMP Asia and Bolognafiere Group are acquiring the
majority stake in the Guangzhou Beauty Fair from its owner
for $7m.
Notes to Editors:
1. Selected UBM events in China
-- September Hong Kong Jewellery & Watch Fair --
http://www.jewellerynetasia.com/exhibitions --
Asia's largest
jewellery fair and one of the top three events of
its kind in the
world
-- Asia Pacific Leather Fair -- http://www.aplf.com --
the world's most
international trade fair for the leather industry
-- Furniture China --
http://www.cmpsinoexpo.com/furniture -- the
largest international furniture exhibition in China
-- Marintec China -- http://www.marintecchina.com --
the largest
and most important international maritime event in
China
-- Cosmoprof Asia -- http://www.cosmoprof-asia.com --
the largest
international beauty trade event in the Asia-Pacific
region
-- Food Ingredients Asia -- China --
http://asiachina2006.fi-events.com/ -- Food
professionals from
around the world gather in Shanghai for a three day
business
gathering in food ingredients marketing
-- CPhI China -- http://www.cphi-china.com -- the
international
pharmaceutical industry event held in Shanghai
-- Hotelex Shanghai --
http://www.cmpsinoexpo.com/hotelex -- China's
largest trade fair for the travel and hotel
industries
-- ExpoBuild China --
http://www.cmpsinoexpo.com/expobuild -- the
biggest group of events serving China's
construction, building
materials and interior fittings industries
-- International IC-China Conference & Exhibition
--
http://www.english.china.iicexpo.com/ -- the largest
showcase of
embedded solutions, IC technologies and EDA &
test tools in China
2. About United Business Media plc
United Business Media is one of the world's leading
global business information companies. UBM brings together
the world's buyers and sellers, helping their markets work
effectively and efficiently through PR Newswire's news
distribution network and CMP's portfolio of events, print
and on-line publications. For more information, go to
http://www.unitedbusinessmedia.com .
About PR Newswire -- PR Newswire is the world's leading
corporate news distribution service. Headquartered in New
York, PR Newswire distributes news globally on behalf of
over 40,000 customers, including many of the world's top
companies and agencies, helping them take the latest news
to the media, the investment community, and the general
public. For more information, go to
http://www.prnewswire.com .
About CMP -- CMP's portfolio of more than 200
newspapers, magazines and directories, 200 websites and 300
events brings together buyers and sellers from a range of
global sectors including technology, healthcare, the built
environment, lifestyle, fashion and ingredients. Our
customers come to us for direct access to their key
audiences: business decision-makers.
CMP operates globally through four divisions:
CMP Media: the USA's leading high tech B2B media
company and provider of healthcare education and
information. For more information, go to
http://www.cmpmedia.com .
CMP Information: the European magazine and events
business, based in the UK. For more information, go to
http://www.cmpinformation.com .
CMP Asia: a leader in exhibitions and publications in
key markets in Asia. For more information, go to
http://www.cmpasia.com .
CMPMedica: leading drug information provider,
pharmaceutical marketing solutions including medical
information and trade press in Europe and Asia.
For more information, go to http://www.cmpmedica.com .
For more information, please contact:
Media:
Peter Bancroft,
Director of Communications
Tel: +44-20-7921-5961
Email: Peter.Bancroft@ubmgroup.biz
Chris Barrie,
Citigate Dewe Rogerson
Tel: +44-20-7282-2943
Mobile: +44-796-872-72-89
Email: chris.barrie@citigatedr.co.uk
Analysts:
Catherine Southgate,
Head of Investor Relations
Tel: +44-20-7921-5031
Mobile: +44-771-046-8996
Email: Catherine.southgate@ubmgroup.biz
SOURCE United Business Media Plc
2007'02.01.Thu
Imaging Expo/Interphoto Shanghai 2006 Holds Industry Seminar
March 27, 2006
SHANGHAI, China, March 27 /Xinhua-PRNewswire/ --
Shanghai International Exhibition Co., Ltd. announces that
an imaging seminar dinner has been jointly held at the JW
Marriott Shanghai by Koelnmesse -- organizer of industry
signature expo photokina, Shanghai International Exhibition
Co., Ltd. and GfK -- the world's biggest consumer goods
consulting agency.
The seminar attracted more than 30 representatives from
professional media, and key local and international players
like FUJI Photo Film (China) Investment Co., Ltd., KODAK
(China) Co., Ltd., OLYMPUS Imaging China Co., Ltd.,
Panasonic Corporation of China, SAMSUNG opto-electronic
Co., Ltd., Shanghai Libao Cyber-Tech Co., Ltd. and Shanghai
Doli Photographic Equipment Co., Ltd.
Ms. MK Wong, Client Services Executive from GfK gave a
speech focusing on the updated situation and future
development in the imaging sector as well as the current
product sales performance in the market.
Mr. Michael Dreyer, President of Asia Pacific of
Koelnmesse Pte Ltd., and Mr Tang Guifa, President of
Shanghai International Exhibition Co., Ltd., attended the
seminar and Mr. Michael Dreyer made a presentation on the
process of Imaging Expo/Interphoto Shanghai 2006.
According to Mr. Dreyer, as one of the best imaging
industry fairs in the country, Imaging Expo/Interphoto
Shanghai 2006 will see a total exhibition space around
12,000 square meters, which will be occupied by 200-plus
exhibitors from home and abroad, who will meet nearly
70,000 trade visitors coming from 30-plus countries and
regions.
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:
Lina Zhang, Project Manager or Tina Ji, Project
Manager
ADD: 8/F, OOCL PALAZ, 841 Yan An Zhong Road, Shanghai
200040, China
Tel: +86-21-6279-2828
Fax: +86-21-6545-5124
Website: http://www.siec-ccpit.com
SOURCE Shanghai International Exhibition Co., Ltd.
2007'02.01.Thu
Achieving SME Competitiveness with Abas ERP and IBM: The Role of Users, IT and Academia
March 27, 2006
HONG KONG, March 27 /Xinhua-PRNewswire/ -- The Division
of Commerce of the Community College of City University of
Hong Kong today announced that a thirteen-week Enterprise
Resource Planning (ERP) course has opened for an Associate
Degree course in Global Logistics and Trade Finance
(GL&TF) since 16th January, 2006 with the funding and
support of ABAS Business Solutions (PRC) Ltd (ABAS) and IBM
China/Hong Kong Limited (IBM). ABAS has donated an ERP
software worth HK$1,200,000.
As part of the Abas Worldwide University Program which
has over 15 universities participating in Europe and in
Asia, the latest development in Hong Kong reflects Abas'
extension of its continuous commitment to Community College
of City University of Hong Kong and is pledge to cultivate
the innovative spirit of students. This program provides
students with resources necessary to understand how ERP can
enable integrated business processes and strategic thinking
and gives students the skills to add value to the
marketplace.
Community College of City University of Hong Kong gains
access to the Abas ERP via the IBM OpenPower710 and Linux
platform. This flexible business software supports
business, global logistics, and information technology
programs, enabling students to put lecture theories into
practice through demonstrations, exercises and case
studies.
Students gain insight into how technology can enhance a
business to optimize key processes such as purchasing,
sales, materials management, scheduling, production
planning and controlling, fixed asset accounting through
hands-on experience with Abas ERP. Students in this
program can understand and learn about effective and
efficient business planning and operations with the support
of ERP therefore improve their IT management skills and get
them well-equipped for future employment.
With the mission of inspiring an enthusiasm for science
and technology in the next generation, Abas enables
employees to engage with their communities to help students
explore their own creativity and develop both technology and
business skills.
Abas believes education is a key factor for innovation
and the growth of communities and economies. Students have
their opportunities to reach their potential and create
their own futures. Abas is dedicated to educating today's
students and hopes they can play an active role in
tomorrow's economies.
About ABAS
Abas is a leading German based provider of ERP software
to over 30,000 users in 25 countries. Abas has always being
committed to promoting the development of Enterprise
Resource Planning (ERP) in China, which is highlighted by
the establishment of Hong Kong, Shenzhen and Shanghai
Office ABAS Business Solutions (PRC) Ltd. in 2003. The
newly established company is aimed at providing Chinese
developing and small and medium sized enterprises with
comprehensive ERP and IT services ranging from consulting
to software development and support. Bestowed with over 25
year's extensive experience in the field of ERP software
development and the knowledge of business administration
and IT, and as well as the establishment of offices in 25
countries around the world, ABAS will perfectly cater to
your international business need. For details, please visit
http://www.abas-prc.com .
About IBM
IBM, the world's largest information technology and
business solutions company, is the global leader in
innovative systems, services, consulting, research and
financing that help organizations transform into on demand
enterprises. IBM opened for business in Hong Kong in April
1957. For details, please visit
http://www-8.ibm.com/hk/linux/case_studies/abas.html .
Abas is a registered trademark of Abas Software AG in
the Germany and other countries.
IBM is a registered trademark of IBM China/Hong Kong
Limited.
For more information, please contact:
Ms. Liu Lai Shan
Abas Business Soultions (PRC) Ltd.
Tel: +852-2882 2949
Email: lls@abas-prc.com
Ms. Sammie Lee
IBM China/Hong Kong Limited (IBM)
Tel: +852-2825-0031
Email: sammieky@hk1.ibm.com
Dr. KK Lam
Community College of City University
Tel: +852-2788-7993
Email: cmkklam@cityu.edu.hk
Ms.Yu / Ms. Ma
UIM Consultants Limited
Tel: +852-6374-0613 or +852-9525-1848
SOURCE ABAS Business Solutions (PRC) Ltd
2007'02.01.Thu
International Trade Commission Orders Investigation of AnalogicTech for Infringement of Linear Technology Patents
March 27, 2006
MILPITAS, Calif., March 27 /Xinhua-PRNewswire/ --
Linear Technology Corporation (Nasdaq: LLTC), a leading
manufacturer and supplier of patented high-performance
analog integrated circuits, announced today that the United
States International Trade Commission (ITC) has instituted
an investigation into whether Advanced Analogic
Technologies (AnalogicTech) is violating Section 337 of the
U.S. Tariff Act. The ITC investigations stems from a
complaint filed by Linear on February 17, 2006, with the
ITC asserting that AnalogicTech's power management ICs
infringe various claims of Linear's U.S. Patent Nos.
6,411,531 and 6,580,258.
"We are gratified that the ITC has ordered an
investigation into AATI's activities. We are confident
that the ITC will conclude that AnalogicTech has infringed
Linear Technology's intellectual property," stated
John England Jr., counsel for Linear.
If the ITC determines that AnalogicTech's power
management ICs infringe Linear Technology's patents and the
products are being imported into the United States, the ITC
may order that such products be completely excluded from
the U.S. market. The ITC can also impose civil penalties
of up to $100,000 (U.S.) per day in the event that
AnalogicTech does not comply with its orders.
The ITC is an independent, nonpartisan, quasi-judicial
federal agency that provides trade expertise to both the
legislative and executive branches of government,
determines the impact of imports on U.S. industries, and
directs actions against certain unfair trade practices,
such as patent, trademark and copyright infringement and
other illegal acts of importation.
About Linear Technology
Linear Technology Corporation, a manufacturer of high
performance linear integrated circuits, was founded in
1981, became a public company in 1986 and joined the
S&P 500 index of major public companies in 2000.
Linear Technology products include high performance
amplifiers, comparators, voltage references, monolithic
filters, linear regulators, DC-DC converters, battery
chargers, data converters, communications interface
circuits, RF signal conditioning circuits, and many other
analog functions. Applications for Linear Technology's
high performance circuits include telecommunications,
cellular telephones, networking products such as optical
switches, notebook and desktop computers, computer
peripherals, video/multimedia, industrial instrumentation,
security monitoring devices, high-end consumer products
such as digital cameras and MP3 players, complex medical
devices, automotive electronics, factory automation,
process control, and military and space systems. For more
information, visit http://www.linear.com/ .
This news release contains forward-looking information
within the meaning of federal securities regulations.
These forward-looking statements include future events in
the litigation announced. These forward-looking statements
involve risks and uncertainties, including those described
from time to time in Linear Technology's filings with the
Securities and Exchange Commission (SEC), that could cause
the actual results to differ materially from those
anticipated by these forward-looking statements. In
particular, litigation involves risks and uncertainties of
duration, cost, and outcome. Linear Technology assumes no
obligation to update this forward-looking information.
For more information, please contact:
John England, Jr.
General Counsel
Tel: +1-408-432-1900
Email: jengland@linear.com
John Hamburger
Director, Marketing Communications
Tel: +1-408-432-1900
Email: jhamburger@linear.com
SOURCE Linear Technology Corporation
2007'02.01.Thu
U.S. Guide to College and University Education in America Now Available
March 27, 2006
WASHINGTON, March 27 /Xinhua-PRNewswire/ -- A new
publication to help students from around the world learn
about opportunities for higher education in the US is now
available from the Department of State. The electronic
publication, "College and University Education in the
United States," addresses topics such as the types of
colleges and universities, education costs, campus life,
possible sources of financial aid, accreditation and the
grading system.
Featuring an introduction by Secretary of Education
Margaret Spellings and a welcome by Karen Hughes, Under
Secretary for Public Diplomacy and Public Affairs at the
U.S. Department of State, "College and University
Education in the United States" provides answers and
extensive information to international students who wish to
study in the U.S.
Highlights in the publication include: resources for
international students and foreign student advisors,
including EducationUSA -- the State Department's global
network of more than 450 advising and information centers
in 170 countries; financial planning information; a video
about the foreign student experience as described in
first-person accounts by international students; a college
life photo gallery; and other useful links.
"College and University Education in the United
States" is part of the Department of State's
electronic journal series. It is currently available in
English, French, and Spanish, and will soon be available in
Arabic, Chinese, Portuguese and Russian.
For this publication click:
http://usinfo.state.gov/journals/itsv/1105/ijse/rdeducate.htm
.
For more information, please contact:
U.S. Department of State
Bureau of International Information Programs
Office of the Coordinator
Washington, DC
Contact: Laura Hesselton
Tel: +1-202-453-8358
SOURCE U.S. Department of State
2007'02.01.Thu
BioWa Licenses POTELLIGENT(TM) Technology to Genentech for Use in Antibody Development
March 24, 2006
PRINCETON, N.J., March 24 /Xinhua-PRNewswire/ -- BioWa,
Inc. announced today that it licensed to Genentech, Inc.
(NYSE: DNA) its POTELLIGENT(TM) technology for use in
researching and developing select Genentech antibodies for
potential therapeutic applications that may include
enhancement of antibody-dependent cellular cytotoxicity
(ADCC).
"Genentech is an unparalleled market leader in the
field of antibody therapeutics," said Dr. Nobuo Hanai,
BioWa President and CEO. "We believe this is an
important opportunity to aid the development of more
effective targeted treatments for cancer and other
life-threatening and debilitating diseases."
Under the terms of the agreement, BioWa will provide
Genentech with exclusive commercial rights to use the
technology for multiple antibodies. In return, BioWa will
receive technology access fees, and may receive milestone
payments and royalties in the event that products are
developed by Genentech. Additional terms were not
disclosed.
About POTELLIGENT(TM) Technology
ADCC activity is an important function of the human
immune system, whereby immune cells can kill target cells,
e.g. cancer cells. Several anti-cancer therapeutic
antibodies that are on the market today have ADCC activity
as one of their mechanisms for the killing of tumor cells.
Enhancement of this activity is one promising approach in
the next generation of antibody technologies.
POTELLIGENT(TM) technology involves the reduction of
the amount of fucose in the carbohydrate structure of an
antibody using a proprietary fucosyltransferase-knockout
CHO cell line as a production cell. Research shows that
POTELLIGENT(TM) technology significantly enhances ADCC
activity of an antibody in vitro, thereby increasing the
potential for improved activity in vivo.
About BioWa, Inc.
BioWa is a wholly owned subsidiary of Kyowa Hakko Kogyo
Co., Ltd., Japan's leading pharmaceutical and largest
biotech company, and is the exclusive worldwide licensor of
POTELLIGENT(TM) technology, which creates high ADCC
monoclonal antibodies. Currently, BioWa is developing ADCC
enhanced monoclonal antibody-based therapeutics to fight
cancer and other life-threatening and debilitating diseases
and both BioWa and Kyowa have POTELLIGENT(TM) antibody
products in various clinical stages. BioWa creates and
develops enhanced ADCC antibodies for itself and others,
offering a full range of antibody discovery and development
capabilities. For more information about BioWa, visit its
web site at http://www.biowa.com.
POTELLIGENT(TM) is the trademark of Kyowa Hakko Kogyo
Co., Ltd. All rights are reserved.
For more information, please contact:
Nobuo Hanai, Ph.D.
President & CEO of Biowa, Inc.
Tel: +1-609-580-7500 x7501
Martina Molsbergen
Business Development
Tel: +1-609-580-7500 x7506
SOURCE BioWa, Inc.
2007'02.01.Thu
Xinhua Finance/MNI China Business Survey: Sentiment Leaps
March 24, 2006
SHANGHAI, China, March 24 /Xinhua-PRNewswire/ -- Xinhua
Finance (TSE Mothers: 9399) and Market News International
(MNI), a part of the news service line of Xinhua Finance,
today announced the first-quarter Xinhua Finance/MNI China
business sentiment survey. The results of the survey
suggested that Chinese business conditions and sentiment
have leapt ahead after three quarters of relatively flat
conditions.
The survey was completed March 6-21 with 140 listed
companies responding. A result greater than 50 implies
growth or improving conditions. (See accompanying story for
more on the survey methodology.)
The survey results can be found at:
http://www.xinhuafinance.com/en/main/chinabizsurvey.html .
Many of the survey indexes assessing current conditions
for the first quarter of this year came close to or topped
the results of the survey from the first quarter last year,
the first and to date most positive result.
The index for overall current business conditions was
at 73.91, for example, up from 67.41 in the fourth quarter
of last year and compared with 78.03 in the first quarter
last year.
The index for the current state of new orders hit its
highest level yet, at 78.35 compared with 69.38 in the
previous quarter and 75.83 a year ago. The index
reflecting current order backlogs also rose, to 56.00 from
43.7 in the previous survey and from 49.00 in the survey
from the first quarter last year.
The indexes reflecting expectations for conditions
three months ahead were even stronger, with many of them
suggesting respondents are more positive about the future
than they have been at any time since the survey began.
The index reflecting expectations for overall business
conditions in three months hit 85.14, its highest level
ever, up from 70.00 in the previous survey and 75.00 a year
ago.
The index assessing expectations for the financial
state of companies in three months also hit the highest
level yet, at 79.41 compared with 68.56 in the last survey
and 77.27 in the first quarter last year.
The survey results fell sharply in the second quarter
last year as government efforts to slow overheating parts
of the economy took hold. Only some of those measures have
since been loosened while others have been reinforced.
But there are signs that the economy has adapted and
worked around the mostly administrative measures put in
place, leaving the government to redouble its efforts in
the last few weeks to stem overheating parts of the
economy.
In a harshly-worded statement to provincial governments
and ministries dated March 12 but released in the official
press this week, China's State Council urged the tightening
of controls on new projects to avoid a rebound in
fixed-asset investment and stem over-capacity.
The State Council, China's cabinet, urged all
provincial governments and ministries to "accelerate
consolidation in sectors with over-capacity problems,"
saying that overheating sectors and the overcapacity that
has resulted is a "key problem in economic
development."
The government's latest attempts to control growth come
amidst other signs that the economy is far from slowing.
China's fixed-asset investment jumped 26.6% year-on-year in
the first two months of this year, which showed little sign
of slowing down and was far above the government target of
18% for 2006.
The survey suggests that companies continue to
accelerate production. The index for current production
reached its highest level yet, at 78.89 compared with 69.08
in the previous quarter and 77.42 in the first quarter of
2005.
Expectations for production three months from now rose
to 83.33 from 72.14 in the last quarter, although still
under the 83.87 hit in the survey a year ago.
There are a number of possible explanations for the
increasing optimism of the majority of respondents in the
survey, aside from basic business conditions.
For one, Chinese companies listed on the stock markets
(as are all respondents in the survey) are overwhelmingly
state-owned enterprises and as such may expect to benefit
from the introduction of the government's latest five-year
plan.
Analysts say the plan, which attempts to shape the
economy to meet general government goals, tends to result
in money being front-loaded in key areas and on special
projects at the start of the five-year periods covered.
Indeed, some of the respondents said they are
encouraged that their companies will benefit from the
latest 5-year plan.
"Thanks to the national policy that favors
agricultural development, the group's revenues will be
boosted," said a respondent from a company that makes
agricultural equipment (respondents were encouraged to
include comments with their submissions). Agriculture is a
key area targeted in the government's latest plan.
"The industry outlook is promising as a result of
the (government's) urbanization policy and mechanization of
the agricultural sector," said an official with a maker
of farm and construction equipment.
Some companies also suggested that the government's
efforts to stem overcapacity had either proven a benefit to
them already or were expected to in the future, as smaller
competitors were removed from the market.
Company officials in the coal, steel and aluminum
industries, all targeted by the government as sectors
seeing overcapacity, said the removal of smaller players
was improving their outlook.
"National policies have resulted in the
consolidation of the steel industry, which has resulted in
improvements in (our) profit margins," said an
official at one steel firm.
Although the comments from some companies indicated
continued concerns that their costs were rising while their
ability to pass on costs was limited (a key complaint in
past surveys), the overall results suggested the majority
were finding price conditions improving.
The index reflecting current prices received rose to
57.25, the highest result since 64.62 in the first quarter
of last year. The index for expectations of prices
received in three months rose to 60.31, its highest level
yet, from 53.03 in the previous survey.
The index for input prices also rose, although not as
dramatically as that for prices received and lower than the
index in the first two quarters of last year.
Although the government has attempted to tighten credit
in a series of measures over the last year or so, the survey
results echo official data that show liquidity has continued
to increase.
The index for the current availability of credit rose
to 63.49, up from 57.81 in the previous quarter and the
highest result yet.
Government efforts to tighten credit through
administrative measures have been at least partially offset
by the effects of its purchase of vast amounts of dollars
flowing into China. Despite increasing efforts at
sterilizing those purchases by removing larger and larger
amounts of yuan from the system in its money market
operations, data show liquidity continuing to rise.
The latest figures for M2 money supply show that growth
hit a near-two year high in January, rising 19.2% over the
same month last year.
The survey results may have been affected by seasonal
factors, since the survey is not adjusted for changing
corporate conditions over the course of the year.
The next survey will be released in three months.
Xinhua Finance/MNI China Business Survey Methodology
The Xinhua Finance/MNI China Business Sentiment Survey
was conducted March 6-21 with 140 companies taking part.
Survey questions were modeled on Japan's Tankan survey
and the U.S. Institute for Supply Management's Report on
Business.
Results were compiled for both current conditions
compared with three months ago and for expectations of
conditions three months ahead.
Indexes were compiled using the Institute for Supply
Management's example: adding half of the percentage saying
conditions were unchanged to the percentage of those saying
conditions had improved generated the index. Therefore, a
result higher than 50 indicates a net positive response.
Companies agreed to participate in the survey, and to
provide comments about business conditions, under the
assurance that individual survey responses would not be
divulged except as part of the overall results.
Companies surveyed were all listed on domestic stock
markets or in Hong Kong, although some also have foreign
listings. The companies chosen were a mix of manufacturers
and non-manufacturers with about 75% of the companies
responding to the survey in manufacturing.
The next survey will be released in three months.
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 21 news bureaus
and offices in 18 locations across Asia, Australia, North
America and Europe.
For more information, please visit
http://www.xinhuafinance.com .
For more information, please contact:
Hong Kong/Shanghai
Ms. Joy Tsang
Xinhua Finance
Tel: +852-3196-3983, +852-9486-4364 or
+86-21-6113-5999
Email: joy.tsang@xinhuafinance.com
Japan
Mr. Sun Jiong
Tel: +81-3-3221-9500
Email: jsun@xinhuafinance.com
Taylor Rafferty (IR Contact)
Japan
Mr. James Hawrylak
Tel: +81-3-5733-2621
Email:James.hawrylak@taylor-rafferty.com
United States
Mr. David Leeney
Tel: +1-212-889-4350
Email: xinhuafinance@taylor-rafferty.com
SOURCE Xinhua Finance; Market News International
2007'02.01.Thu
GEECF: Sixth US$8,500,000 Sale to China
March 24, 2006
NASSAU, Bahamas, March 24 /Xinhua-PRNewswire/ -- Global
Environmental Energy Corp. (OTC Bulletin Board: GEECF) (DE:
GLI) confirmed today that its subsidiary, Biosphere
Development Corp, has concluded its sixth Chinese Biosphere
Process(TM) System sale for US$8,500,000.
The system was sold at a price of US$8,500,000, payable
upon delivery to Rizhao City in Shandong Province.
This sale increases Biospheres' 2006 Chinese sales
target of 30 systems to 36 systems at US$8,500,000 each, or
US$306,000,000.
Biosphere Asia Pacific Company Limited (ASIA PACIFIC)
has confirmed that a licensing fee of US$50,000 has been
received for this system.
ASIA PACIFIC and Rizhao City have agreed to build a
System for municipal solid waste treatment and electricity
generation. ASIA PACIFIC and Rizhao City are now forming a
local operating company in Rizhao City to develop the
project. In addition to revenue derived from system sales,
Biosphere will participate in the operating profits from the
Rizhao City project through its shareholding in Hong
Kong-based ASIA PACIFIC.
Additional systems for Rizhao City will be manufactured
in China by International Environmental Energy Corporation
(IEEC).
Global is publicly traded on stock markets in Germany
and the United States. Biosphere is a subsidiary of Global.
Note to Investors
This press release contains forward-looking information
within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934
and is subject to the safe harbor created by those sections.
Risk factors listed from time to time in news releases and
SEC filings may impact Global's actual performance and
future results. Actual outcomes and results could
materially differ from what is expressed, implied or
forecasted in forward-looking statements.
For more information, please contact:
Dr. C.A. McCormack
Global Environmental Energy Corp.
Tel: +1-242-323-0086
Email: global@coralwave.com
Web site: http://www.globalenvironmentalenergy.com
http://www.geecf.net
SOURCE Global Environmental Energy Corp.
2007'02.01.Thu
AXA Rosenberg Announces Launch of Global Emerging Markets Funds
March 23, 2006
Offerings Utilize Firm's Proprietary Stock Selection Process
ORINDA, Calif., March 23 /Xinhua-PRNewswire/ -- AXA
Rosenberg Group LLC, the specialist global equity
investment management firm within the AXA Investment
Managers group, today announced the extension of its highly
successful global equity strategy with the launch of the AXA
Rosenberg Global Emerging Markets Equity Strategy and an All
Country World Equity Strategy.
The funds are designed to outperform the Morgan Stanley
Capital International Emerging Markets (MSCI EM) and All
Country World (MSCI ACWI) indices. They will invest across
the capitalization spectrum of the emerging markets of Asia
Pacific, Eastern Europe, Africa, the Middle East and Central
and South America. Separate accounts as well as various
commingled vehicles including a Dublin-based UCITS for
investors in Europe and Asia will be available.
"AXA Rosenberg's proven investment strategies are
predicated on the belief that earnings matter and that the
best companies to invest in are those that produce the
highest future earnings relative to their current
price," said Stephane Prunet, AXA Rosenberg Group
Chief Executive Officer. "Our strategy of building
portfolios with a distinct earnings advantage relative to
the market has generated alpha in developed markets, and
our research shows the same should be true within emerging
markets as well," he added.
Tom Mead, Managing Director of the Barr Rosenberg
Research Center LLC, the dedicated research arm of the AXA
Rosenberg Group, noted that in contrast with many emerging
market managers who make country or industry bets, AXA
Rosenberg's approach is designed to add value through pure
stock selection while keeping industry and country weights
tight to the benchmark. "While success in these
regions has traditionally been viewed as the result of
timing markets or industries, our research shows that
creating well-diversified portfolios based on finding
undervalued companies with high future earnings potential
is rewarded from a risk and return standpoint."
The firm's Global Emerging Markets funds are being
launched following several years of detailed evaluation of
more than 200 financial statement items across 170 business
segments for more than 4,500 emerging markets companies.
"We've done the difficult work of applying our
approach in this area and the evidence indicates that there
are ample stock selection opportunities in emerging markets.
The availability and completeness of financial data in these
markets have improved dramatically and many companies are
now reporting their financial results on either a U.S. GAAP
basis or based on International Financial Reporting
Standards (IFRS). At the same time, these markets are
typically under-researched and less efficient, which makes
them particularly attractive for applying our rigorous
bottom-up, fundamental analysis," Mr. Mead said.
Noting that AXA Rosenberg has been managing emerging
country assets in Asia for over five years with strong
results, Mr. Prunet said, "The Global Emerging Markets
Strategy complements our other offerings. It also reflects
the increasing demand from clients who are looking for
alternative sources of alpha, have appreciated our approach
to global equity markets, and have expressed interest in
both our stand alone global emerging product and the all
world country strategy."
This communication is issued for information purposes
only and is not intended to be an offer to sell nor a
solicitation of offers to purchase shares of the funds
specified herein, in any jurisdiction or to any persons or
entities where prohibited by law. Investments in the funds
are subject to investment risks and past performance is no
guarantee of future results.
About AXA Rosenberg
AXA Rosenberg Group LLC, the specialist global equity
investment management firm within the AXA Investment
Managers group, was founded in 1985 by Dr. Barr Rosenberg,
who plays an active role in the development of equity
insights. AXA Rosenberg models and predicts company fair
value, future earnings and risk in building portfolios that
aim to produce higher future earnings per dollar than the
markets. This analysis is embedded in an expert system --
the proprietary software built to embody the firm's
collective knowledge -- so that it can be applied in a
consistent and repeatable fashion in all markets worldwide.
AXA Rosenberg manages more than $85 billion in individual
country, regional and global strategies for pension funds,
foundations and government entities in North America,
Europe, Asia and Japan. Headquartered in Orinda,
California, the firm has offices in New York, Toronto,
London, Tokyo, Hong Kong, Singapore and Sydney. For more
information, please visit http://www.axarosenberg.com .
For more information, please contact:
North America, Asia Pacific, Japan
Danette Shipe
AXA Rosenberg
Tel: +1-925-253-3460
Email: dshipe@axarosenberg.com
Neal Rosen
Kalt Rosen & Co.
Tel: +1-415-397-2686
Email: Rosen@KRC-IR.com
Europe
Ellen Gracey
GR Communications
Tel: +44-207-357-0070
Email: ellen@grcomms.co.uk
Wendy Sayer
AXA Rosenberg
Tel: +44-207-895-6748
Email: wsayer@axarosenberg.com
SOURCE AXA Rosenberg Group LLC
2007'02.01.Thu
Xinhua Far East Downgrades Shenyang Jinbei Automotive Co Ltd from BB to C Issuer Rating
March 23, 2006
HONG KONG, March 23 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings today downgraded Shenyang Jinbei
Automotive Co Ltd ("Jinbei Auto" or "the
Company", SH A 600609) from a BB to a C domestic
currency issuer credit rating.
The downgrade was prompted by the large amount of
overdue loans reported in the Company's 2004 annual and
2005 interim results. Overdue loans were reported to be
RMB684 million in 2004, representing 33.2% of gross debt.
Overdue loans rose further to RMB696 million and reached
35.7% of gross debt in 1H05, with most of the overdue loans
from 2004 remaining unpaid. Xinhua Far East believes that
Jinbei Auto's repayment capacity has been materially
impaired, considering that its cash reserve (unpledged
portion) is lower than its total overdue loans.
Xinhua Far East also notes the deteriorating profit
margins of both Jinbei Auto and its major subsidiaries,
especially Brilliance Jinbei, which makes it very difficult
for the Company to enhance its credit profile. The risks in
its contingent liabilities further aggravate the problem.
As competition has intensified in China's auto market,
Jinbei Auto's profitability has continued to decline in
recent years, in contrast to its rising light-vehicle
sales. Six of its major consolidated subsidiaries - one of
which has been shut down - reported losses (or slender
profits) over the past three years. To make matters worse,
Brilliance Jinbei, a JV between Jinbei Auto and Brilliance
China Automotive Holdings Ltd ("CBA"), formerly
the Company's cash cow, also reported weak performance in
2004 and 1H2005. Xinhua Far East expects that CBA, as a
self-branding domestic manufacturer, might become further
cornered in China's sedan market and face considerable
liquidity risks should its convertible bond holders execute
redemption options on the bond. There is little chance for
Jinbei Auto to notably boost its profitability and cash
flow in the next couple of years.
In its 2005 half year report, the Company reported
RMB361 million in contingent liabilities, which originated
from loan assurances to its subsidiaries and unrelated
companies. Based on the poor performances of most of
Jinbei Auto's subsidiaries and the comparatively stagnant
economy in the regions in which related companies operate,
Xinhua Far East anticipates that these contingencies will
lead to significant risk.
A major light-vehicle producer in China, Jinbei Auto
sold 18,300 light lorries in 2004, giving it a 2.4% market
share; it also sold 62,100 light cars, giving it 15.8%
market share. Through its JV with CBA, Jinbei Auto also
produces the Zhonghua sedan, sales of which came to 10,000
units in 2005, down 8.93% YoY. The JV reported RMB432
million and RMB287 million in losses in 2004 and 1H05
respectively.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
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 21 news bureaus
and offices in 18 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
David Leeney
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: david.Leeney@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.01.Thu
Xinhua Far East Downgrades Brilliance China Automotive Holdings Ltd to BBB- Issuer Rating, the Rating Outlook Changed from Stable to Negative
March 22, 2006
HONG KONG, March 22 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings today downgraded Brilliance China
Automotive Holdings Ltd ("CBA" or "the
Company", HK1114; NYSE: CBA) from BBB+ to BBB-
domestic currency issuer credit rating. The rating outlook
is also changed from stable to negative.
The downgrade reflects Xinhua Far East's negative view
on CBA's competitiveness as an independent domestic brand
in the tougher Chinese sedan market and its falling market
position in the minibus sector. It also incorporates
concerns about the Company's slow market responsiveness and
its battered image among consumers resulting from a
turbulent turnover of management, which has undermined its
market share and profitability. The new rating also
reflects a possible liquidity risk if CBA convertible bond
holders execute their redemption options on the bond in
2006.
Xinhua Far East notes that CBA's sedan sales have
slipped despite solid growth rates in China's sedan market
of 15.2% in 2004 and 24.3% in 2005. As market growth
decelerates, CBA will face further squeezes with more
players entering the business sedan submarket, its major
revenue source in the past. CBA's weak R&D capability
prevents it from not only launching new models to catch up
with major rivals, but also from quickly expanding its
product lines to faster-growing niches like economic or
mini-sedans.
Moreover, the minibus sector, another core business for
the Company, has also been reporting disappointing results.
CBA's share in the domestic minibus market fell from 24.2%
in 2000 to 15.5% in 2004. The turnover and profit margin
of the minibus sector (including auto parts) has slid also,
largely due to lower prices and its condensed high-end
product mix.
In Xinhua Far East's view, the turmoil in CBA's
management has impeded its responsiveness to the market and
impaired its ability to enhance operational efficiency,
while undermining consumer confidence in its products.
Despite strong recovery in the Company's JV with BMW since
the launch of the BMW 3 series in Q205 and the opportunity
for the Company to enhance its competitive strength in the
low-to-medium end market with the recent launch of the
Junjie model, Xinhua Far East believes it will get little
help from its major business lines of minibus and Zhonghua
sedan in the near future.
The rating outlook for CBA is negative. Xinhua Far
East expects growth in sedan demand to stall even further
over the next few years after pent-up demand has been fully
released on account of the current market's aggressive price
cuts and greater availability. The business sedan niche, an
area in which CBA used to excel, is more likely to be
affected by macro-controls. Additionally, it will take time
for the Company to establish a competitive position in the
rapidly changing household sedan market.
The first China automaker to be listed abroad, CBA
produces the Zhonghua, Grandeur and Junjie sedans and the
Jinbei minibuses. It sold 61,600 minibuses and 11,000
Zhonghua sedans in 2004, contributing to RMB6.54 billion in
turnover for the year. CBA holds a 49% stake in Brilliance
BMW, a JV with BMW, which produces the BMW 5 series and 3
series in China. Zhonghua is one of the key domestic
brands in China's sedan market.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
Note to Editors:
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 21 news bureaus
and offices in 18 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, +8621-6113-5999 or
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
David Leeney,
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: david.Leeney@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.01.Thu
Praxair and Lincoln Electric Sign Mutual Cooperation Agreement
March 23, 2006
SHANGHAI, China, March 23 /Xinhua-PRNewswire/ --
Praxair China, a subsidiary of Praxair Inc. (NYSE: PX),
today announced that its joint venture, Shanghai Praxair
Baosteel Inc. (SPBI), has signed a cooperation agreement
with Lincoln Electric China.
SPBI will supply cylinders of carbon dioxide, argon,
and argon blends to Lincoln Electric's welding training
centre, applications engineering lab and R&D
laboratories in Baoshan District, Shanghai. SPBI has also
donated a complete set of manifolds to allow Lincoln to use
the gases effectively. Lincoln Electric will allow Praxair
to use the facilities to train its sales force, engineers
and customers, promote seminars and demonstrate Praxair
welding gases and solutions developments to customers.
Praxair China's welding technical centre in Guangzhou
Economic & Technology Development Zone, established in
2004, is the first such investment by a multinational
industrial gases company in China. The cooperation with
Lincoln Electric will further allow Praxair's technical
team to extend the development of welding solutions to
customers in East China.
"One important focus of our mutual cooperation
will be on the introduction of leading welding solutions to
fabrication customers in China." commented Douglas
Steyer, applications and market development director for
Praxair Asia. "The combined application of Lincoln
knowledge in welding processes and Praxair's knowledge in
welding gases will allow both partners to provide an even
greater level of customer service and provide solutions for
a wide range of welding needs."
"The cooperation of Praxair and Lincoln Electric
brings together two of the strongest teams in the
industry," said Zhang Xuetao, general manager of
Shanghai Praxair Co., Ltd. "This is an excellent
opportunity for SPBI to present welding gases application
technology to customers via the Lincoln Electric
network."
Frank Young, Vice President, North Asia region for
Lincoln Electric said "The welding industry in China
is growing rapidly. As it grows the demands for improved
technologies, quality, and efficiency increase. This
agreement with Praxair enhances and complements our
investment in our China Welding Technology Centre and
positions us well to meet these industry needs. We look
forward to working closely with Praxair to be the leaders
in customer service and welding applications support in
China."
"We are delighted to form this partnership with
Praxair as both Praxair and Lincoln Electric are leading
companies in welding and cutting industries,"
commented Jian Zhang, Manager of Welding Technology Centre
for Lincoln Electric China. "The cooperation will
leverage the complementary strength of both companies as
the combination of Lincoln Electric's knowledge in welding
and Praxair's know-how in shielding gas will position both
partners for future achievement in providing higher level
of customer service and welding solution to customers in
China."
About Praxair China
Praxair China, a subsidiary of Praxair, Inc., is the
leading global industrial gases supplier in China, serving
a diverse group of industries through the production, sale,
distribution and value-added application of industrial
gases. With over 1000 employees across the country,
Praxair China, headquartered in Shanghai, operates 13
wholly owned companies and 11 joint ventures. More
information on Praxair China is available on the Internet
at http://www.praxair.com.cn .
About Praxair
With 27,000 employees and operations in 40 countries,
Praxair, Inc. (NYSE: PX) is a global, Fortune 500 company.
Praxair is the largest industrial gases company in North and
South America, and one of the largest worldwide, with 2005
sales of $7.7 billion. The company produces, sells and
distributes atmospheric and process gases, and
high-performance surface coatings. Praxair products,
services and technologies bring productivity and
environmental benefits to a wide variety of industries,
including aerospace, chemicals, food and beverage,
electronics, energy, healthcare, manufacturing, metals and
others. More information on Praxair is available on the
Internet at http://www.praxair.com .
For more information, please contact:
Juno Chen,
Praxair Asia, Media
Tel: +86-21-2894-7018
Email: juno_chen@praxair.com
SOURCE Praxair China
2007'02.01.Thu
Wachovia Celebrates Expansion of Fixed Income Division and 25 Years in Hong Kong
March 23, 2006
With a Leading Correspondent Banking and Trade Services Franchise, Wachovia Grows Capital Markets Platform in Hong Kong
CHARLOTTE, N.C., March 23 /Xinhua-PRNewswire/ --
Wachovia Corp., the fourth largest bank in the U.S. based
on assets, has operated in Hong Kong for over 25 years,
offering top-ranked correspondent banking and trade
services capabilities. More recently, the firm has offered
an expanding range of capital markets and fixed income
products to Wachovia's bank relationships in Asia. To
house its growing presence, the bank has leased new offices
in two locations for its more than 500 Hong Kong employees
and will officially open the new space on March 29.
Wachovia began building its Asian franchise in 1979 and
now operates from 16 locations and five licensed bank
branches. In September 2005, Wachovia expanded its global
correspondent banking and trade services platform with the
acquisition of the international correspondent banking
business of Union Bank of California, a business that also
focused on Asia.
Part of Wachovia's need for greater space in Hong Kong
is to accommodate the firm's growing fixed income sales and
trading floor.
"We're proud of the long history of our financial
institutions and trade activity in the Asian market and are
now equally excited at the prospect of broadening our
activities for clients to include capital markets
solutions. We believe the strength of our integrated
services will help us raise our profile in this very
important region," said Steve Cummings, head of
Wachovia's Corporate and Investment Banking division.
Head of Fixed Income Curtis Arledge sees opportunity
for more success. "We've built a leading fixed income
platform in the U.S., and there is great opportunity for us
to deliver our structured products, global rates, credit
products and real estate capital markets capabilities to
Asian clients," said Arledge. "Asian economies
are growing twice as fast as that of North America, and our
clients continue to seek Wachovia's support to capitalize
upon this growth."
"Our narrow yet deep focus on financial
institutions banking is recognized around the world. In
the most recent FI Metrics analysis of correspondent
banking, Wachovia was ranked first in 'overall
institutional satisfaction.' We're confident that there
are meaningful synergies to be realized between our
correspondent banking and fixed income specialties,"
said Michael Heavener, head of Wachovia's Global Financial
Institutions and Trade Services division.
About Wachovia's Corporate and Investment Banking Group
Wachovia's Corporate and Investment Banking group
offers a full suite of products and services to public and
private companies, institutional investors, financial
institutions and the financial sponsor community.
Investment banking and the global markets businesses (fixed
income, equities, and research) operate under the Wachovia
Securities brand and have become a global force in the
capital markets arena by providing comprehensive advisory,
capital raising, structuring, research and execution
services. Wachovia's Corporate and Investment Bank also
includes the 3rd largest Treasury Services business in the
U.S. as well as leading asset-based lending and global
correspondent banking services. The firm is built on a
cohesive culture that encourages creative ideas, capital
solutions, and experienced advice to all clients.
Wachovia Securities is the trade name for the
corporate, investment banking, capital markets and
institutional securities businesses of Wachovia Corporation
and its subsidiaries. These businesses are conducted
through Wachovia Capital Markets, LLC (WCM), member NASD,
NYSE and SIPC, Wachovia Securities International Limited,
which is authorized and regulated in the United Kingdom by
the Financial Services Authority, and other bank and
non-bank broker-dealer subsidiaries of Wachovia
Corporation, including Wachovia Bank, National Association,
which is authorized as a Restricted License Bank in Hong
Kong and regulated by the Hong Kong Monetary Authority.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's
largest diversified financial services companies, providing
13.4 million household and business relationships with a
broad range of banking, asset management, wealth management
and corporate and investment banking products and services.
Wachovia operates as Wachovia Bank through 3,131 offices in
15 states from Connecticut to Florida and west to Texas,
and, until merger integration activity is completed, as
Western Financial Bank in California. Two core businesses
operate under the Wachovia Securities brand name: retail
brokerage in 49 states and six Latin American countries,
and corporate and investment banking in selected industries
nationwide. Globally, Wachovia serves clients through more
than 40 international offices. Online banking is available
at wachovia.com; online brokerage products and services at
wachoviasec.com, and investment products and services at
evergreeninvestments.com. Wachovia had assets of $520.8
billion, market capitalization of $82.3 billion and
stockholders' equity of $47.6 billion at December 31,
2005.
For more information, please contact:
Amy H. Jones
Wachovia Corp.
Tel: +1-704-383-4995
Elise Wilkinson,
Wachovia Corp.
Tel: +1-704-374-6512
SOURCE Wachovia Corporation
2007'02.01.Thu
Swiss Re Awards USD180 000 for Sustainable Watershed Management Projects in the Philippines, Cameroon and Bolivia
March 22, 2006
MANILA, Philippines, March 22 /Xinhua-PRNewswire/ -- A
Philippine non-government organization has won the
USD80,0000 top prize in the annual Swiss Re-sponsored
International ReSource Award for Sustainable Watershed
Management. The winning project, from Resources,
Environment and Economics Center for Studies, Inc. (REECS),
uses innovative ways to involve local communities in
protecting water resources.
Projects in Cameroon and Bolivia won the runner-up
prizes worth USD50,000 each from Swiss Re, one of the
world's leading reinsurers. Through the Award, Swiss Re
supports inventive and diverse community engagements from
around the world which preserve and nurture water sources.
Ivo Menzinger, Head of Group Sustainability Management
at Swiss Re and Chairman of the International ReSource
Award Jury, commented, "Swiss Re witnesses that a
majority of natural disasters are water-related events, and
they are on the increase. Poor land use exacerbates this
trend and it is our goal as a leading global risk manager
and reinsurer of such catastrophic events to support and
reward inventive and diverse community engagements from
around the world in preserving and nurturing our water
sources."
Swiss Re established the International ReSource Award
in 2002 to support initiatives that seek to contribute to
raising awareness of ecological, social and economic
significance of water sources and watersheds, especially in
developing countries.
Winner: Payments for Environmental Services in the
Philippine Uplands
This year's winning project comes from the Philippines
and focuses on sustainable watershed management and poverty
alleviation in the Philippine Uplands. The project is based
on a "Payments for environmental services (PES)"
system, compensating the local Ikalahan people for their
upstream activities to the benefit of the downstream
communities such as domestic water users, farmers and
tourists. The project foresees training support on
sustainable upland farming practices and puts strong
emphasis on a series of practical dialogues among
providers, beneficiaries and intermediaries. The winning
project was submitted by Resources, Environment and
Economics Center for Studies, Inc. (REECS), Quezon City,
Philippines.
Runners-up: Water conflict mitigation in Cameroon;
Bolivian highlands support
For the first time a project from Africa is also
receiving support from Swiss Re. The Ntunir watershed
project in the Jakiri Council municipality in Cameroon's
North West Province, spreading over 700 hectares of
moorland, will receive USD50,000. Submitted by KivenK
development, a local NGO, the project mitigates conflict
among people of different cultures who are either concerned
about protecting the catchments for quantitative and
qualitative water supplies; or grazers who need the
catchment areas for fresh grass to browse their animals.
An equal runner-up prize of USD50,000 was granted to a
project in the Suches River basin, in the Bolivian
highlands. This proposal aims to establish best practices
in water management along the full length of the Suches
River, from Alpaca grazing grounds at 4,800 meters to the
shores of Lake Titicaca. The project is unique in its mix
of traditional farming techniques, culture and modern
approach to sustainable use of natural resources. It was
submitted by Grupo de Voluntariado Civil (GVC), La Paz,
Bolivia.
The International ReSource Award
Launched in 2002, the ReSource Award is an
internationally recognised prize for leadership in
implementing the principles of sustainability in watershed
management. It is conferred annually. As one of the
world's leading reinsurers, Swiss Re is committed to
supporting the planning, evaluation and implementation of
water-related projects with the aim of promoting awareness
and encouraging the efficient use of this precious
resource.
Notes to editors
Swiss Re
Swiss Re is one of the world's leading reinsurers and
the world's largest life and health reinsurer. The company
operates through more than 70 offices in over 30 countries.
Swiss Re has been in the reinsurance business since its
foundation in Zurich, Switzerland, in 1863. Swiss Re
offers a wide variety of products to manage capital and
risk. Traditional reinsurance products, including a broad
range of property and casualty as well as life and health
covers and related services, are complemented by
insurance-based corporate finance solutions and
supplementary services for comprehensive risk management.
Swiss Re currently has the following ratings: (i) from
Standard & Poor's: long-term counterparty credit,
financial strength and senior unsecured debt ratings of
"AA (CreditWatch negative)", and a short-term
counterparty credit rating of "A-1+", (ii) from
Moody's: insurance financial strength and senior debt
ratings of "Aa2" (on review for possible
downgrade), and a short-term rating of "P-1" and
(iii) from A.M. Best: a financial strength rating of A+
(superior) (under review with negative implications).
Swiss Re has been associated with Asia since 1913, and
now has more than 900 staff in Asia Pacific. The company's
Asian headquarters are in Hong Kong. In 2006 Swiss Re
celebrates 50 years since it opened its first offices in
Asia Pacific.
For more information, please contact:
Eileen Lim
Corporate Communications, Asia
Tel: +852-2582-3610
Web: http://www.swissre.com
SOURCE Swiss Re
2007'02.01.Thu
Corning Launches EAGLE XG(TM) LCD Substrates
March 22, 2006
First to Deliver Breakthrough Innovation in Environmentally-Friendly LCD Glass Technology
CORNING, N.Y., March 22 /Xinhua-PRNewswire/ -- Corning
Incorporated (NYSE: GLW) announced today the commercial
launch of EAGLE XG(TM), the industry's first liquid crystal
display (LCD) glass substrate that is free of all heavy
metals. "Corning continues to create customer value
through the minimization of potential costs related to
environmental regulations and recycling challenges,"
said James P. Clappin, president, Display Technologies.
Clappin announced the industry's most
environmentally-friendly LCD glass during the DisplaySearch
US FPD Conference in San Diego, Calif.
"EAGLE XG is a green substrate that provides added
value for panel manufacturers, and the entire TFT-LCD value
chain, while retaining all of the process benefits and
attributes of EAGLE2000(TM), another innovative glass
composition from Corning that has become the industry
standard," Clappin continued. "EAGLE XG is an
environmentally friendly glass that is the first of its
kind. The value it provides to our customers will continue
to increase as future environmental regulations are
introduced. As an industry leader, Corning continues to
deliver products that help our customers worldwide to be
successful, both now and in the future."
EAGLE XG is the first and only LCD glass to be
completely free of heavy metals, including arsenic. As
with EAGLE2000, it is also free of antimony and barium, and
halides such as chlorine and fluorine. These materials,
added by some glass suppliers during their manufacturing
process, can produce potentially harmful manufacturing
by-products.
As one of the world's leading technical innovators,
Corning has consistently brought new compositions to the
LCD industry since the earliest stages of its development.
Corning produced the first LCD glass substrates that were
used by Japanese LCD development labs, leading to the first
TFT LCD products in the mid-1980s. Corning introduced
EAGLE2000 substrates in the year 2000 that provided
customers with new benefits and glass attributes, including
very-low glass density, higher chemical durability and
advanced thermal properties. EAGLE XG glass retains the
benefits of these advantageous properties, while adding an
increased level of environmental friendliness through its
advanced composition and manufacturing processes.
"The quickly changing technical landscape of the
LCD industry and the increase of ubiquitous, large,
high-performance displays require the continuous evolution
of the LCD glass substrate," explained Dr. Pete L.
Bocko, division vice president and director, commercial
technology, Corning Display Technologies. "We believe
the environmental area is an opportunity to enhance the
value Corning offers to our customers. EAGLE XG is one of
the most significant advances in fundamental glass
technology in a generation."
One of Corning's primary operating priorities is to
invest in future growth and technology. Currently,
approximately 10 percent of the company's sales are
reinvested into research and development that is focused on
multiple technologies and growth opportunities. Over the
last 20 years, Corning scientists have supported the LCD
industry with ongoing advances in ultra-thin glass
technology that is making possible today's portable LCDs
and desk top monitors, as well as the production of
increasingly popular LCD TVs. With the introduction of
EAGLE XG, Corning continues to demonstrate the company's
high level of commitment to meeting the needs of the LCD
industry both now and in the future.
About Corning Incorporated
Corning Incorporated ( http://www.corning.com ) is a
diversified technology company that concentrates its
efforts on high-impact growth opportunities. Corning
combines its expertise in specialty glass, ceramic
materials, polymers and the manipulation of the properties
of light, with strong process and manufacturing
capabilities to develop, engineer and commercialize
significant innovative products for the telecommunications,
flat panel display, environmental, semiconductor, and life
sciences industries.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements
that involve a variety of business risks and other
uncertainties that could cause actual results to differ
materially. These risks and uncertainties include the
possibility of changes or fluctuations in global economic
and political conditions; tariffs, import duties and
currency fluctuations; product demand and industry
capacity; competitive products and pricing; manufacturing
efficiencies; cost reductions; availability and costs of
critical components and materials; new product development
and commercialization; order activity and demand from major
customers; capital spending by larger customers in the
liquid crystal display industry and other businesses;
changes in the mix of sales between premium and non-premium
products; facility expansions and new plant start-up costs;
possible disruption in commercial activities due to
terrorist activity, armed conflict, political instability
or major health concerns; ability to obtain financing and
capital on commercially reasonable terms; adequacy and
availability of insurance; capital resource and cash flow
activities; capital spending; equity company activities;
interest costs; acquisition and divestiture activities; the
level of excess or obsolete inventory; the rate of
technology change; the ability to enforce patents; product
and components performance issues; changes in key
personnel; stock price fluctuations; and adverse litigation
or regulatory developments. These and other risk factors
are identified in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only
as of the day that they are made, and Corning undertakes no
obligation to update them in light of new information or
future events.
For more information, please contact:
Lydia Lu
Corning China
Tel: +86-21-5467-4666 x1900
Email: lulr@corning.com
James E. Terry
US Corning
Tel: +1-607-974-7343
Email: terryje@corning.com
Lisa A. Burns
Tel: +1-607-974-4897
Email: burnsla@corning.com
Ken C. Sofio
Investor Relations
Tel: +1-607-555-1212
Email: sofiok@corning.com
SOURCE Corning Incorporated
2007'02.01.Thu
WineSpring to Develop Global Luxury Lifestyle Platform for Wine, Travel, Exclusive Experiences; Expands China Operations and Luxury Focus
March 22, 2006
SAN FRANCISCO, March 22 /Xinhua-PRNewswire/ -- IVY Worldwide, Inc. and IVY Luxe, a San Francisco based luxury company, is proud to announce its global expansion plans for WineSpring http://www.winespring.com . Originally launched in December 2005 under WineSpring.org as a showcase for premium California wines for the affluent Chinese marketplace, WineSpring will expand its focus to build the world's most innovative and exclusive online platform for consumers of luxury lifestyle goods, services and experiences, as well as for its global network of partner companies that cater to the needs and desires of affluent consumers. "We are really developing a one-of-a-kind bespoke offering with a powerful global reach. Our first areas of development will continue to be the West Coast of the US, including California, Nevada and Hawaii as well as expansion into 30 cities in China. Currently, we are developing our bespoke profiles and luxury partner network for the top hotels in China, our top one hundred luxury hotel partners in California, over two hundred premium California wineries, the finest restaurants and our luxury travel and experience provider partners, both on the West Coast and in China," says William Rosenberger, CEO of WineSpring and parent company IVY Luxe. WineSpring has developed a branding partnership with Vancouver based meloCreative http://www.melocreative.com , headed by creative director Paul Melo. meloCreative will develop the global luxury platform including the innovative online presence as well as global marketing initiatives. "meloCreative is excited and honored to be a part of the IVY Luxe and WineSpring network. In partnering with IVY Luxe and WineSpring we will elevate our leading edge design and development to bring WineSpring's inventive global vision to life. William's drive and ability to capture diverse markets is sure to place IVY Luxe and WineSpring at the forefront of the world's luxury brands," states Paul Melo. WineSpring has appointed David A. Kessler, based in Shanghai, as Managing Director of all wine and luxury initiatives for China. David is a graduate of the Wharton School. "Without question, WineSpring is poised to become a top luxury lifestyle offering among China's top movers and shakers, a standard for creativity and excellence," notes Kessler. BingBing Jiang, originally from Beijing where she was a well-acclaimed journalist, now a San Francisco, CA based linguist and China cultural expert, will act as Director of Cultural Relations for WineSpring. "China's rapid development during the last two decades enables the possibility to introduce world-class luxury experiences to affluent Chinese consumers. In doing so, we also bridge the gap between different cultures, which is embodied by lifestyles, because everything eventually boils down to cultural exchange and communications," says Jiang. The new WineSpring luxury platform will debut in May 2006, preceded by several major partner announcements. WineSpring invites all interested parties to inquire through the website or sign up for their announcement newsletter. For more information, please contact: William Rosenberger Tel: +1-415-939-1982 SOURCE WineSpring
2007'02.01.Thu
Misys Banking Systems Helps Bank NISP Stay at Forefront of Market Growth in Treasury & Trade Finance
Misys Banking Systems Helps Bank NISP Stay at Forefront of Market Growth in Treasury & Trade Finance
March 22, 2006
LONDON, March 22 /Xinhua-PRNewswire/ -- Misys Banking
Systems is pleased to announce that Bank NISP, one of the
largest Indonesian banks with assets of Rp. 20 trillion
(S$3.4billion) as of 31st December 2005 (audited), has
announced that it will be implementing Misys Banking
Systems software to drive significant growth across its
treasury and trade finance functions.
Indonesia is poised to be a strong regional economic
leader after a period of sustained growth. The Indonesian
Government committed in 2004 to invest $150 billion in
infrastructure projects over a ten-year period to achieve
significant economic growth. The first tranche of that
investment, over $50bn, has already been placed. Foreign
direct investment has also grown by 70 per cent in the
first half of 2005.
Bank NISP, among the first in Indonesia to address the
international market, is looking to capitalize on the
nation's strengthening economy and to maintain its rapid
growth, which has seen assets grow at an average rate of 40
percent in the last ten years. It will integrate its
treasury and trade finance operations using two solutions
from Misys Banking Systems, Misys Trade Innovation and
Misys Opics. The installation of Misys Opics will be one
of the first in Asia to use state-of-the art modules
re-architected in .NET and will be deployed as a central
hub solution supporting three operations within Indonesia.
Misys Opics will equip the bank with a comprehensive
front-to-back office, cross asset treasury solution to
ensure real-time processing across a wide range of
financial instruments including derivatives, foreign
exchange and money markets. Misys Trade Innovation will
provide the necessary operational and workflow management
for the bank's trade finance operations, helping it drive
efficiency and growth in its international banking
activity.
Mr. Ferdinan Dion, Head of Corporate Affairs at Bank
NISP, sees these solutions from Misys Banking Systems as a
key pillar in the bank's strategy for maintaining growth
and developing new markets. "The market for trade
finance and treasury expertise is growing massively and we
want to be able to capitalize on the international business
that is coming into Indonesia to support these projects.
Misys Opics and Misys Trade Innovation will enable us to
achieve much higher transaction volumes, more of the
processing will be automated, we'll have 95%-plus
Straight-Through Processing (STP) and we'll be flexible
enough to adapt to a changing market."
Reid Warren, Regional Sales Manager -- South Asia,
Misys Banking Systems, says: "Indonesia is a key
market for Misys. We are well established in Asia and the
partnership with Bank NISP means that we now have over 260
customers in the region. The prospects for growth here are
very encouraging and we are pleased that major institutions
like Bank NISP are choosing Misys solutions to help them
maintain their competitive edge, expand into new markets
and improve their business performance."
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in
over 120 countries, among them 49 of the world's top 50
banks, with software and solutions for retail banking,
wholesale banking, treasury and capital markets and risk
management. It has 2,600 people around the world, over 70%
of whom are outside of the United Kingdom, and sales,
implementation and customer support teams in over 28
countries. Misys Banking Systems is part of Misys plc.
About Misys plc
Misys plc (FTSE: MSY), the global software company, is
one of the world's largest and longest-established
providers of industry-specific software. Founded in 1979,
Misys serves the international banking and healthcare
industries, combining technological expertise with in-depth
understanding of customers' markets and operational needs.
In banking Misys is a market leader with over 1,200
customers, including 49 of the world's top 50 banks. In
healthcare Misys is also a market leader, serving more than
92,000 physicians in 18,000 practice locations, 1,250
hospitals and 600 home care providers. In UK general
insurance Misys is the market leader in software solutions.
Through Sesame, a wholly-owned subsidiary, the company is
also a leading provider of support services to about 7,800
financial advisers in the UK. Misys employs over 6,500
people who serve customers in more than 120 countries. For
more information, visit http://www.misys.com .
Misys. Making things that really matter, work better.
About Bank NISP
Founded in 1941 in Bandung, West Java, Bank NISP is the
fourth oldest bank in Indonesia. With total assets of Rp 20
trillion (S$3.4billion) as of 31 December 2005 (audited),
Bank NISP is the 9th largest private bank in Indonesia.
Supported by a distribution network of more than 200
branches and offices and also more than 15,000 shared ATMs
nationwide, Bank NISP has a strong franchise serving small
and medium enterprises as well as the consumer market in
Indonesia.
Bank NISP whose 72.29 % shares are owned by OCBC Bank's
subsidiary, OCBC Overseas Investments Pte Ltd, has had a
consistently strong track record in the last 10 years, and
continued to perform well even during the Asian financial
crisis of 1997-1998. In 2005, Bank NISP was named Finance
Asia Magazine's Asia's Best Company. Bank NISP is committed
to become one of leading banks in Indonesia in line with
Bank's vision "to be the bank of choice with
world-class standards recognized for its caring and
trustworthiness."
For more information, please contact:
Caroline Parker
Tel: +44-207-269-7295
Mobile: +44 (0) 7917 648526
Fax: +44-20-7831-8438
Email: Caroline.Parker@fd.com
SOURCE Misys plc
2007'02.01.Thu
Praxair and Jiao Tong University Cooperate on Laser Welding Research for Shipbuilding Industry in China
March 22, 2006
SHANGHAI, March 22 /Xinhua-PRNewswire/ -- Praxair Asia
today announced that it has donated a lasing gases supply
system, valued at more than RMB80,000, to the Laser
Processing Lab of Shanghai Jiao Tong University.
The laser-processing lab is a part of a joint research
program funded by the Chinese and German governments. The
lab will develop advanced hybrid laser welding processes
for the shipbuilding industry in China.
Praxair, a proven leader of welding gases applications,
will supply high-purity and shielding gases and technical
support in process optimisation. Distribution of lasing
gases requires advanced technology and high-purity piping
systems, and Praxair will provide the high-purity carbon
dioxide, nitrogen, helium, and ensure the gases will reach
the resonator without contamination from the atmosphere.
"Praxair is very pleased to support research on
welding for shipbuilding, particularly at a top-quality
institution like Shanghai Jiao Tong University," said
Dr. Kevin Albaugh, director of Praxair Asia's R&D
Center. "Collaborating with universities is an
important part of our R&D approach. SJTU has top
talents and facilities, and I believe we will have more
opportunities to cooperate in many fields."
Douglas Steyer, applications and market development
director for Praxair Asia, commented, "Praxair's long
experience and knowledge in welding applications allows us
to help the research program to move quickly. By providing
gases and gas systems engineered to the highest standards,
we ensure worry-free laser operation to this facility,
providing reliable solutions for the welding needs of the
shipbuilding customers."
About Praxair Asia
Praxair Asia's regional headquarters is located in
Shanghai, China. With over 2000 employees across the Asia
region, Praxair has operations in China, India, South
Korea, Thailand, Singapore, Malaysia, Japan and Taiwan. In
addition, Praxair Global Supply Systems, Praxair Asia
Distributions Group and the Praxair Asia R&D Centre are
all located in Shanghai.
About Praxair
With 27,000 employees and operations in 40 countries,
Praxair, Inc. (NYSE: PX) is a global, Fortune 500 company.
Praxair is the largest industrial gases company in North and
South America, and one of the largest worldwide, with 2005
sales of $7.7 billion. The company produces, sells and
distributes atmospheric and process gases, and
high-performance surface coatings. Praxair products,
services and technologies bring productivity and
environmental benefits to a wide variety of industries,
including aerospace, chemicals, food and beverage,
electronics, energy, healthcare, manufacturing, metals and
others. More information on Praxair is available on the
Internet at http://www.praxair.com .
For more information, please contact:
Ms Juno Chen
Praxair Asia, Media
Tel: +86-21-2894-7018
Email: juno_chen@praxair.com
SOURCE Praxair, Inc.
2007'02.01.Thu
BHP Billiton Petroleum Speeds Payment Process for Complex Services With Quadrem Invoicing Solution
March 22, 2006
Technology Automates Manual Processes With Direct Integration to SAP; Automatically Invoices and Supports Contract Compliance
SINGAPORE, March 22 /Xinhua-PRNewswire/ -- BHP Billiton
Petroleum is improving its procure-to-pay process with
Quadrem's new electronic invoicing solution for oil and gas
upstream services, which is based on the American Petroleum
Institute's (API) PIDX standards. The solution connects
directly to BHP Billiton Petroleum's enterprise resource
planning system, SAP, and enables the oil and gas operator
to: rapidly and accurately pay invoices, analyze line level
expenditure data, identify price discrepancies and promote
purchasing that complies with corporate contracts.
"We're dramatically reducing the time it takes our
engineers to reconcile invoices without having to make
significant changes in our business processes," said
Yusuf Dalal, World Drilling Finance Advisor for BHP
Billiton Petroleum. "Additionally, Quadrem's
automatic download to SAP eliminates five to six business
days of work at the front-end of the procure-to-pay
process. These and other efficiencies, including the time
saved using electronic delivery rather than regular mail,
are enabling us to make important process improvements and
compress payment cycles. Within the first month after
implementation we began to meet the DPO goals we'd
set."
BHP Billiton Petroleum began piloting Quadrem's
invoicing solution in October with Schlumberger and
Halliburton, who were directly integrated end-to-end, and
GlobalSantaFe, who utilized a supplier web portal. After
seeing successful results during the pilot phase, BHP
Billiton Petroleum is moving forward by working with
Quadrem to onboard 75 top suppliers in the Gulf of Mexico.
Additionally, the company is evaluating a roll out of the
invoicing solution to its operations in Trinidad, the
United Kingdom, and Australia.
Using Quadrem's solution, suppliers receive orders for
services from BHP Billiton Petroleum's SAP system and send
invoices through the Quadrem platform leveraging a central
catalogue of approved service items. The invoice is stored
in the Quadrem platform and a "proforma invoice"
is sent to BHP Billiton Petroleum. Once the "proforma
invoice" is approved, the Quadrem platform releases the
invoice, which is automatically loaded into BHP Billiton
Petroleum's SAP system for final payment. The resulting
efficiency and reduction of errors accelerates BHP Billiton
Petroleum's payment approval cycle -- a process that
traditionally is very inefficient for oil and gas companies
because upstream services involve so many variables and
approval touch-points both offshore and at centralised
purchasing offices. Other important functionality
includes: attachments and discrepancy reporting for both
planned and unplanned items (e.g. price discrepancies), and
an audit trail for all changes, approvals and
discrepancies.
"BHP Billiton has been an important customer for
years on the mining side, and has experience with our
ability to deploy effective supply chain solutions
globally," said Charles Jackson, Quadrem CEO.
"As we've expanded our offering to the oil and gas
industry, they and their suppliers have been instrumental
in helping us resolve the challenges of complex services
procurement that are common in oil and gas. We've
developed a unique solution that works with and builds upon
BHP Billiton's SAP infrastructure. We're excited about the
value delivery here, and we are already exploring the
opportunity to replicate BHP Billiton's successes with
several like companies."
Quadrem works closely with operating companies,
oilfield suppliers, and third parties such as Oilfield
Services Portal (OFS Portal) to help develop the API PIDX
document standards that support energy supply chain
processes. OFS Portal, of which Schlumberger and
Halliburton are members, is a group of diverse suppliers
working together with a non-profit objective to provide
electronic data in standardized format to B2B trading
partners to facilitate eCommerce in upstream oil and gas
products and services. Creation and adoption of standards
is a key component in the success of e-business. With the
PIDX XML standards, the underlying format of Quadrem's
invoicing solution has been sanctioned by the API, and will
greatly simplify the process for all participants in a
transaction. For more information on PIDX see
http://www.PIDX.org .
About BHP Billiton Petroleum
BHPB Petroleum Americas is a division of BHP Billiton,
the largest diversified natural resources company in the
world.
About Quadrem
Quadrem ( http://www.quadrem.com ) provides e-business
solutions that connect buyers and suppliers to maximise
supply chain efficiencies. Quadrem's global transaction
platform, vibrant international trading community and
high-quality content services enable customers to implement
the most effective e-business initiatives for buyers and
suppliers. Established in 2000, Quadrem has locations in
Australia, Brazil, Canada, Chile, France, Mexico, The
Netherlands, Peru, Saudi Arabia, Singapore, South Africa,
UAE and the United States.
For more information, please contact:
Katherine Kirkpatrick
Tel: +1-972-543-8044
Email: kkirkpatrick@quadrem.com
Choon Boon Heng
Tel: +65-6550-9683
SOURCE Quadrem
2007'02.01.Thu
Beyondsoft Sponsors Software 2006
March 21, 2006
BEIJING, March 21 /Xinhua-PRNewswire/ -- Beyondsoft
Co., Ltd., a China based end-to-end software engineering
service provider, sponsors software 2006 on April 4 & 5
in Santa Clara, CA.
Software 2006 is a vendor-neutral forum where software
vendors, service providers and customers can be brought
together, under this year's theme of "Unifying the
Ecosystem." Many CEOs, VPs, entrepreneurs, VCs,
systems integrators, offshore providers, accountants,
attorneys, bankers, consultants, press and analysts will
gather in Santa Clara during those two days.
China is becoming more and more attractive for IT
buyers in the USA to address cost pressure and workforce
flexibility issues. As a Silver Sponsor of Software 2006,
Beyondsoft will be hosting a panel on April 4, `Doing
Business in China.' The panel will include several
experienced entrepreneurs and scholars, and address
opportunities, benefits, and various approaches for doing
business in China. David Scott Lewis, Beyondsoft's VP of
Business Development North America, will chair the panel.
About Beyondsoft
Established in 1995, Beyondsoft Co., Ltd. is a leading
end-to-end software engineering service provider. The core
services range from software development, QA/Testing,
localization, to China market entry. Headquartered in
Beijing, Beyondsoft has domestic branches in Shanghai &
Wuhan, as well as overseas offices in Silicon Valley,
Seattle, Fort Collins in the United States, and Tokyo,
Japan. For more information, please visit
http://www.beyondsoft.com .
For more information, please contact:
Lorita Liu
Beyondsoft Group
Tel: +86-10-8282-6100 x5102
Email: liuye@beyondsoft.com
SOURCE Beyondsoft Co., Ltd.
2007'02.01.Thu
The 6th China International Dye Industry, Pigments and Textile Chemicals Exhibition to be Launched In Shanghai
March 21, 2006
SHANGHAI, China, March 21 /Xinhua-PRNewswire/ -- The
world's largest professional exhibition for dye, organic
pigment, textile Chemicals (China Interdye 2006) will take
place in Shanghai from April 12 to 14.
China Interdye 2006 is organized by the China Dyestuff
Industry Association, China Dyeing & Printing
Association, CPIT Shanghai, CCOIC Shanghai and Shanghai
World Expo (Group) and co-organized by International
Exhibition Service Corporation. It will take place in the
Shanghai International Exhibition Center and Shanghaimart
from April 12 to 14, 2006 presenting various kinds of
dyestuff, organic pigment, Textile Chemicals and various
supporting production facilities.
In recent years the production and marketing of China's
dyestuff, dyeing auxiliary and organic pigments have seen
rapid growth within the market, in turn driving the
consumption of and demand for dyeing chemicals. In 2005,
the production of dyed and printed cloth totalled 36.215
billion meters in length, an increase of 15.69% year on
year; the total imports and exports of the nation's top six
categories of dyed and printed products reached over
USD12.003 billion, making China a major world player in the
production, consumption and trading producer of dyestuff,
dyeing auxiliary and organic pigments.
China Interdye has seen itself grow in size as a result
of the industry's growth. After 6 years of steady
development, China Interdye has evolved to be the world's
largest professional exhibition for dye, organic pigment
and textile chemicals. Some 300 renowned chemical
enterprises from 15 nations and regions will showcase their
latest products in the 18,000 square meter hall, with an
extra 7,000 square meters set aside only for overseas
exhibitors. Industrial giants such as Ciba Specialty
Chemicals, BASF, dystar, LONGSONG, Bomei, DuoWen, Braun,
Lamberti, Yorkshire, Bozzetto, EKSOY and other foreign
manufacturers and famous domestic peers such as lonsen,
Bentonite, Yabang, Jihua, Chuyuan, Dymatic Chemicals will
show their products on the same stage. In addition, some
renowned enterprises in the textile chemicals field and
related equipment manufacturers will also attend to present
an international gala.
To render support to China Interdye 2006, China Dyeing
& Printing Association, China International Dyestuff
Industry Association and Shanghai Paintings and Dyestuff
Industry Association will hold their 2006 annual meeting
and council meeting.
Meanwhile, some additional industrial technical
workshops will also be inaugurated, including the
"Four New" meeting of the fifth national printing
and dyeing industry, "Workshop on the Earlier
Processing Technique and Equipment of Textiles, and the
"11th Dye Technical Exchange Meeting," to provide
a technical exchange platform for the exhibitors and
audience.
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.
ADD: 8/F£¬OOCL PALAZ£¬841 Yan An Zhong Road, Shanghai
200040, China
Tel: +86-21-6279-2828
Fax: +86-21-6545-5124
Website: http://www.siec-ccpit.com
For more information, please contact:
Mrs Zhu Lei
Tel: +86-21-6279-2828 x219
Fax: +86-21-6386-6972
Email: siesc@public7.sta.net.cn
SOURCE Shanghai International Exhibition Co., Ltd.
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