CSR rejects Bright Food bid for sugar division
0 
China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
CSR rejects Bright Food bid for sugar division—Xinhua News Agency
Australian conglomerate CSR has rejected a US$1.4 billion offer from Bright Food Group for its 150-year-old sugar business.
Analysts said Bright Food needs to raise its offer by at least US$300 million to win CSR's agreement. There may be fierce competition from other international rival bidders, so Bright Food has to revise its offer as soon as possible.
CSR is Australia's largest sugar producer with nearly 50 percent market share in Australia and New Zealand. It is also Australia's second-biggest producer of building supplies.
China heavily dependent on iron ore imports—Beijing Times
Zhu Hongren, spokesman for the Ministry of Industry and Information Technology, said at a new conference yesterday that imports account for 69 percent of China's total iron ore consumption.
China's iron ore imports surged 41.6 percent to 630 million tons in 2009, raising China's dependence on imports to 69 percent from 44 percent. China's heavy dependence on imports has put China in a disadvantageous position in annual iron ore negotiations.
Mediatek and Motorola agree partnership—21st Century Business Herald
Mediatek, a Taiwan-based chip designer and producer, confirmed Wednesday that it has entered a partnership with semiconductor and wireless communications giant Motorola to produce chips used in some Motorola's cell phones.
"We signed a cooperation agreement with Motorola last November. Currently, Motorola has used our chips in six lines," said a Mediatek manager.
Motorola posted a US$183 million loss in the third quarter of 2009. In the same period, its cell phone sales dropped from 144.8 million sets to 13.6 million sets, driving its market share down to 4.7 percent.
Nongfu Spring to raise prices—21st Century Business Herald
Nongfu Spring, a major Chinese beverage maker, will increase prices of some of its products starting January 28, according to the company's spokesman Zhou Li.
Nongfu Spring is the third beverage company to lift its prices this month following Yanjing Beer and Coca-Cola. More beverage makers are expected to follow suit to offset rising raw materials costs.
Go to Forum >>0 Comments