IN BRIEF (Page 13)

Honeywell wins parts order

Honeywell International Inc and Parker Hannifin Corp have won orders worth $9.8 billion to supply parts for China's first narrow-body plane as the Asian nation challenges Boeing Co and Airbus SAS.

Honeywell got a $7.3 billion order to supply auxiliary power units and related equipment, and Parker was awarded a contract for at least $2.5 billion of components including fuel and hydraulic systems.

CuDeco in talks with Sinosteel

Australian gold and copper miner CuDeco Ltd on Wednesday said it signed a non-binding financing agreement with Sinosteel Equipment & Engineering Co, a subsidiary of China's largest iron ore trader Sinosteel Group, for its Rocklands copper project in Queensland, Australia.

CuDeco said the agreement with Sinsoteel outlines financing and terms arrangement options for the entire project. Sinosteel is engaged in the development and processing of mineral resources, metal trading, and logistics of metallurgical raw materials and products. The company also said the deal was one of the many opportunities it is discussing with parties in China for the development of Rocklands and other projects.

PICC full-year net income up

PICC Property & Casualty Co, China's largest non-life insurer, said profit jumped 16-fold last year as stocks surged, lifting the value of its investments, and insurance premium grew.

Net income rose to 1.78 billion yuan ($260.8 million), or 0.16 yuan a share, from a restated 109 million yuan, or 0.01 yuan a share, a year earlier, the Beijing-based company said.

China Daily-Bloomberg News

(China Daily 04/15/2010 page13)