IN BRIEF (Page 14)

Technology

Lenovo expands in Brazil

Lenovo Group Ltd, the second-largest PC maker in the world and the largest in China, has agreed to buy the Brazilian consumer electronics maker CCE in a cash-and-shares-deal worth about 300 million Brazilian reals ($147 million, 114 million euros).

The purchase of CCE, Brazil's largest domestic maker of electronics, will allow Lenovo to nearly double its share of the PC market in the world's sixth-largest economy to about 8 percent from 3.7 percent and diversify its product portfolio from single PCs to other electronic products such as tablet PCs and smartphones.

The deal will also add mobile phones and televisions to its product line in Brazil, where it recently announced plans to build a factory at a cost of $30 million (23.2 million euros).

Microsoft to employ 1,000 more in China

Microsoft Corp plans to take an aggressive approach to its expansion in China, a country that has contributed only a tiny portion of the software giant's revenue despite being the world's second-largest personal-computer market.

The company, based in Washington state, plans to add 1,000 employees to its staff of about 4,500 in China in the financial year ending June 30, said Ralph Haupter, Microsoft's chairman and chief executive for greater China.

Staff will be recruited in its research and development, sales and support divisions, said Haupter, who was appointed Microsoft's China chief in April.

Deals

Haier to buy all of NZ firm's shares

The home-appliance company Haier Group says it wants to buy all the shares in Fisher & Paykel Appliances Holdings Ltd that it does not already hold for NZ$1.20 ($0.97, 0.79 euros) apiece.

The offer would open in the following 14 to 30 days, said Haier, which became a shareholder in Fisher & Paykel in 2009 with a stake of about 20 percent.

"Haier will profit from the closer alliance with Fisher & Paykel Appliances," said Liang Haishan, director of Haier and president of Haier White Goods Group.

Fund to benefit French, Chinese enterprises

China Development Bank and the French state-owned bank Caisse des Depots say they have created a 150 million euro ($189 million) fund to take minority stakes in French and Chinese small and medium-sized firms.

The fund would invest between 3 million and 15 million euros in each company with sales of 10 million to 200 million euros. The fund would take minority interests in French SMEs that are developing a market presence in China and the other half in Chinese SMEs that are developing in France.

Automobile

Fisker to enter China's electric car market

Fisker Automotive says it has set a November launch date for its high-end electric Karma sports car in the Chinese mainland market as part of its expansion in Asia.

The company, based in California and with manufacturing operations in Finland, says the car has a plug-in feature and an internal combustion engine. It is being billed as the "world's first high-performance electric luxury vehicle".

The car also features a curved solar-power roof that generates electricity when the car is parked. Interior features include wood and upholstery said to have been either reclaimed, recycled or reused, and no animal products, such as leather.

Shanghai Volkswagen recalls defective cars

Shanghai Volkswagen is recalling 7,544 cars due to a flawed design that could cause inoperative steering, China's consumer quality watchdog said.

The vehicles being recalled are Santana 1.8L manual-series sedans made between March 1 and Aug 28, the General Administration of Quality Supervision, Inspection and Quarantine said.

The automaker said it will repair the flaws at no charge, the supervisory body said.

Pharmaceuticals

GSK to develop TCM solutions

The pharmaceutical company GlaxoSmithKline says it will open a research unit in China to look at traditional Chinese medicine.

The company says Innovative TCM will be one of GSK's R&D programs in China, aiming to transform TCM from an experience-based practice to evidence-based medicines through innovation and differentiation.

The company's research and development center in China was founded in 2007 with a focus on neurosciences.

Trade

Delegation to discuss EU probe

A Chinese delegation led by the vice-minister of commerce will visit Germany and France to negotiate with the European Commission on the European Union's decision to launch an anti-dumping investigation on Chinese solar panel exports, the Ministry of Commerce said.

Chen Deming, minister of commerce, said the ministry is monitoring the inquiry.

China will find a way to tackle the issue through talks with the EU, and the Chinese delegation will do its best to protect the interests of Chinese companies, he said.

Huawei gears up for US hearing

Huawei Technologies Co Ltd of China, the world's second-biggest telecommunications equipment maker, said it was negotiating the conditions under which it would agree to take part in a US congressional hearing on Sept 13 into alleged security threats posed by Chinese telecommunications companies.

The House of Representatives intelligence committee said it would hold the open hearing as part of its investigation into "the national security threats posed by Chinese telecommunications companies working in the United States".

On the morning of the hearing the committee's website listed as witnesses Charles Ding, corporate senior vice-president of Huawei, and Zhu Jinyun, senior vice-president for North America and Europe of ZTE.

Retail

Zara launches online store in China

The Spanish clothes retailer Zara launched an online store in the Chinese mainland on Sept 5, a milestone for the company's e-commerce business expansion.

The website will offer online shoppers the same full range of merchandise for women, men and children as are found in physical stores.

Items sold online are priced the same as those found in high street Zara stores. Besides e-commerce, Zara is also active in social networks such as the micro-blogging website Weibo and the video website Youku.

Zara is known for its flexibility and swift response to emerging trends. New Zara items are delivered to shops twice a week, while the delivery of most fashion brands can take months.

Amway health food plant for Guangdong

The direct-selling company Amway China says it will build its largest overseas production base in South China, aiming to serve the country's fast-growing health food market.

The base will be in the Economic and Technology Development District in Luogang, Guangzhou, which will be completed in 2016. The 78,000-square-meter plant will produce the company's top-selling Nutrilite products.

"Amway China will invest 600 million yuan ($94.5 million, 73.6 million euros) to build the Guangzhou production base and a botanical research center in Wuxi," said Audie Wong, president of Amway China.

Chemicals

China rubber plant announced

Lanxess AG, a German chemical manufacturer, will spend $294 million (228.5 million euros) to build a synthetic rubber plant in China, its biggest investment in the country.

The plant, which will make ethylene propylene diene monomer, will be able to produce 160,000 metric tons a year and will be ready in 2015, the company said. Ethylene propylene diene monomer is used in windscreen wipers and door sealants.

China Daily-Agencies

(China Daily 09/14/2012 page14)