Asia

US component manufacturer Commercial Vehicle Group has acquired Stratos Seating of Sydney, Australia, a seat supplier to the Australian military, truck and specialty vehicle markets.

"This acquisition not only expands our Australian presence in the military and truck markets, but also enhances our overall product offering with the addition of the unique Stratos suspension system and military seating products," said W. Gordon Boyd, president of Commercial Vehicle Group's Seating Systems Group. 

Food giant Nestlé has entered into a partnership agreement with Hsu Fu Chi, a leading manufacturer and distributor of confectionery products in China, it has been announced.

Under the terms of the proposed agreement, Vevey, Switzerland-based Nestlé will acquire 60 per cent of Hsu Fu Chi, while the Hsu family will own the remaining 40 per cent.

The total value of the transaction is approximately CHF 1.4 billion (approx. €1.2 billion).

Based on 30 years of experience in India, Tata Projects Limited (TPL) is in growth mode as it takes on some of the country’s largest infrastructure projects, at the same time looking at the opportunities thrown up by the energy boom in the Middle East.

Bombardier Transportation’s visionary early investment in India has given it a distinct advantage as the country responds to economic growth with improvements in its transport infrastructure.

Improvements to Pakistan’s major highways are critical to the future expansion of the country’s economy and relations with its neighbours. Jayne Alverca looks at how the National Highway Authority is responding to the challenge.

Economic growth in any form can only be sustained if it is underpinned by a solid infrastructure and road transport is always a key element, especially in countries such as Pakistan with a relatively short coastline.

Technocraft Group is one of the largest exporters of drum closures in the world. But its story doesn’t stop there—the company is constantly seeking new avenues and opportunities, no matter what sector they are in. Jane Bordenave reports.

Chinese regulators have approved Diageo’s acquisition of an additional four per cent stake in Sichuan Chengdu Quanxing Group, a Chinese white spirits company.

The deal is worth £13 million, Diageo said.

Once completed, the four per cent transfer will bring Diageo’s holding in Quanxing to 53 per cent.

Diageo has agreed to facilitate financing for Quanxing of up to approximately £193 million for the development of its main business.

A Chinese company has placed an order to purchase 582 Saab vehicles with a total value of €13 million from Saab Automobile, offering the company a short reprieve from its financial difficulties.

The order will allow the beleaguered car maker to pay its employees’ wages and make partial supplier payments.

Meanwhile, Swedish Automobile and Saab Automobile are continuing discussions with several parties in the hope of securing additional short-term funding to restart production.

Sunnyvale, California-based positioning technology specialist Trimble today announced the acquisition of Yamei Electronics Technology, Co. Ltd, a Chinese wholly foreign owned entity (WFOE) of Digisec Group of the Caymans.

Financial terms have not been disclosed.

Copper producer Kazakhmys has announced the signing of a memorandum of understanding with the China Development Bank for a $1.5 billion loan.

The money will be used to develop the company’s major copper project at Aktogay in Kazakhstan.