Asia

QED Connect has signed letters of intent to acquire 100 percent of Terra Resources and Kuma Oil, both oil and gas companies, and Kyrgyz Alumina, an aluminum mining company.

Terra, through its subsidiary company NV Alliance, has oil and gas rights in the Republic of Kalmykia, a subject of the Russian Federation. Kuma Oil, a Russian company, owns oil and gas rights in the Russian territory of Perm Krai.  

Driving in the Philippines can be fun and adventurous; but being chauffeured is convenient and more practical for travellers on a tight schedule.

The Renault-Nissan Alliance has announced it will invest US$160 million in Korea to meet anticipated demand for new vehicles and to grow its Renault Samsung Motors brand.

Production of the next-generation Nissan Rogue in Busan, Korea, will begin in 2014, with an annual capacity of about 80,000 units. The plant aims to build a total of 180,000 vehicles this year for sale in Korea and 60 other countries.

Pratt & Whitney and IndiGo have signed a definitive agreement for PurePower PW1100G-JM engines for 150 Airbus A320neo family aircraft.

The agreement includes 300 firm PurePower PW1100G-JM engines with additional options and a long-term PureSolution maintenance agreement. Deliveries are scheduled to begin in 2015. 

South African pharmaceutical company Adcock Ingram has announced its acquisition of the Indian pharmaceutical brands of Cosme Farma Laboratories.

The deal, thought to be worth around R708 million, will see Adcock acquire the marketing assets of the pan-Indian branded sales and marketing pharmaceutical business, which is based in Goa and Mumbai, India.

Chemicals manufacturer BASF has said it will expand its vinylformamide (VFA) capacity in Germany and China in order to meet growing global demand.

The company will expand its manufacturing plant for VFA in Ludwigshafen, Germany, as well as increasing its polymerization capacity. It will also build a new polymerization line for VFA in China for further processing of the feedstock from Ludwigshafen. This facility will be built at the Zhenjiang site, Jiangsu province.

Israel’s Elbit Systems has won a contract worth $62 million to upgrade the Korean Air Force’s C-130 transport aircraft.

Under the terms of the contract, the C-130 aircraft will be installed with various types of advanced electronic systems, and the existing analogue cockpit converted to a ‘glass cockpit’ using Elbit Systems' digital flight displays.

The work is expected to take around four years, and will be carried out in co-operation with Korea Aerospace Industries, Korea’s leading local aircraft manufacturer.

Premier Foods, the UK’s largest food producer, has reached an agreement to sell its vinegar and sour pickles business to Mizkan for £41 million.

The sale, which includes the Sarson’s, Haywards and Dufrais brands, is expected to complete by the end of July 2012.

The agreement marks the latest stage in the company’s strategy to prioritise investment into its eight ‘Power Brands’ and divest selected non-core businesses.

Greek shipping company Box Ships has agreed to acquire two post-Panamax container vessels from OOCL for $31.15 million per vessel.

The two 5,344 TEU post-Panamax ships are the 1995-build OOCL Hong Kong and the 1996-build OOCL China. The expected dates of delivery for both vessels to the company are to take place mid-July.

Johnson Controls today participated in a signing ceremony in Tianjin, China to announce a planned $200 million automotive battery plant, pending final approval.

The state-of-the-art facility will supply automakers and the aftermarket in China with high quality maintenance-free lead-acid starter batteries and advanced batteries for start-stop vehicles.