Int'l engine giants bid for C919's turbine
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Chinese newspapers carried the following stories on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Int'l engine giants bid for C919's turbine – intl.ce.cn
At the grand opening ceremony of the Shanghai Pratt & Whitney Aircraft Engine Maintenance Company on September 24, Todd J. Kallman, president of the Commercial Engines and Global Services Unit, used the opportunity to deliver a message to the Commercial Aircraft Corporation of China (COMAC): Pratt & Whitney is actively participating in China's C919 aircraft project and attempting to supply its cutting-edge PW100G jet engine.
Like Pratt & Whitney, other major international engine makers like CFM and Goodrich have also shown interest in supplying engines to COMAC's C919 aircraft.
Compared with existing engines on the world market of comparable thrust, the Pratt & Whitney engine will raise fuel efficiency by 12-15 percent while reducing noise and exhaust emissions by half each, according to Kallman, who declined to reveal the results of the negotiation with COMAC.
Chinese Blue makers want piece of monopolized market – NBD
The High-definition Discs Industry Alliance of China recently revealed that China Blue High Definition (CHBD) DVD players are ready for mass production, aiming to seize a share of the huge mainland market that has so far been dominated by international high definition disk players.
CHBD applies China's own AVS and DKAA protocols, respectively, a decoding standard and copyright protection method. Production in the next three years is expected to reach 10 million units.
Baotou Steel Rare-Earth denies alliance with CIC – intl.ce.cn
In a statement published on September 25, Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Company, Limited (600111.SS) said that earlier in the month, representatives from China Investment Corporation (CIC) and subsidiary China Jianyin Investment Securities paid a visit to the company. The two parties elaborated on the vision of future cooperation and partnership but reached no agreement on the form of cooperation and did not sign any framework deal.
Previous media reports on September 24 claimed that as a result of the meeting, Baotou Iron & Steel Corporation agreed to launch a new, multi-billion yuan company, particularly to engage in the exploration and development of rare-earth resources, in which CIC would maintain a majority stake of more than 80 percent.
Australia rejects China Nonferrous's acquisition of Lynas - CBN
A bid by China Nonferrous Metal Mining (Group) Limited Company to acquire Australian Lynas (ASX: LYC), a rare-earth producer, has been rejected by Australian authorities, marking another failed overseas purchase attempt by a Chinese company. This episode follows Chinalco's attempted participation in Rio Tinto.
Lynas, in statement published yesterday, said that the Australian Foreign Investment Review Board (FIRB) demanded that China Nonferrous reduce both its stake in Lynas and proportion of members on the board to below 50 percent each, terms that were deemed unacceptable by China Nonferrous, who chose to end the deal.
Geely denies Goldman Sachs's investment in Volvo – auto.ce.cn
Geely International, a Chinese private auto manufacturer states that it will issue HK$2.586 billion ($334 million) in convertible bonds and warrants to a private equity under Goldman Sachs through directional introduction. Also in the statement, Geely says the fund is to finance the company's daily expenditures and potential procurement plans while denying it is for the acquisition of Volvo.
Geely, who has recently become active in the international market, is not perceived as being enthusiastic about domestic mergers. Earlier this month, in the company's first official statement about the intention, Geely CEO Gui Shengyue in Hong Kong mentioned that the company is actively involved in procuring Volvo.
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