Biz Scene: MARKET

Maotai output capacity

Kweichow Moutai, a top maker of traditional Chinese liquor, said yesterday it plans to expand production capacity by 2,000 tons of the fiery Maotai drink.

The liquor maker will invest about 700 million yuan in the expansion next year and finance most of the investment itself, the company said in a statement.

The project, which the company aims to complete by the end of 2008, is expected to contribute annual sales revenue of 1.1 billion yuan, the company said.

Vtion expansion

Chinese wireless Internet access card provider Vtion Wireless Technology AG said it planned to raise up to 152 million euros in an initial public offering in Frankfurt to help its entry into the European market.

Vtion is offering up to 5.1 million shares, of which 4 million derive from a capital increase, it said. The company said it plans to use the proceeds to expand its distribution network and acquire two data card design companies.

Vtion also wants to expand into other international markets and aims to enter Germany by the end of next year, which was one of the reasons why it decided for a listing in Frankfurt, it said.

(China Daily 11/21/2007 page15)