Date
20 September 2018

Industrials

  • Heineken will take a 40 percent stake in CR Beer for HK$24.35 billion, giving the Dutch brewer a strong distribution network in China and greater access to one of the world’s fastest-growing premium beer sectors. Photo: Bloomberg

    Heineken seals US$3.1 billion tie-up with China Resources Beer

    Aug 3, 2018 12:45pm
    Heineken NV has struck a US$3.1 billion partnership with a company that controls China’s largest brewer, China Resources Beer Co. Ltd. (00291.HK), Reuters reports. The deal will see Heineken, the world’s No. 2 brewer, take a...
  • Matthias Herrmann, managing director of Roy Ceramics, believes there is still some way to go for China when it comes to pursuing intelligent manufacturing. Photo: HKEJ

    How a bathroom ceramics firm is riding Germany’s ‘Industry 4.0′

    - Jul 30, 2018 4:23pm
    In 2012, Germany launched the concept of “Industry 4.0″ in its manufacturing sector. Three years later, China implemented a similar initiative, dubbed “Made in China 2025″ plan, to modernize the country’s manufacturing through technological upgrades, and...
  • BASF was able to convince Beijing that the Zhanjiang project will bring the products and technology it needs and that it is a reliable, long-term partner. Photo: Bloomberg

    What makes BASF’s US$10 billion Guangdong project possible?

    - Jul 20, 2018 10:39am
    In April this year, a delegation led by Zhanjiang City Mayor Jiang Jianjun visited the headquarters of BASF in Ludwigshafen, Germany. He was blown away by what he saw. Its “Verbund” site is the largest industrial...
  • Wang Jian was a chairman and co-founder of HNA, one of China’s most acquisitive conglomerates which has been selling assets to slash debt. Photo: Bloomberg

    HNA chairman Wang dies after fall during trip to France

    Jul 4, 2018 5:51pm
    China’s HNA Group said Wang Jian, a chairman and co-founder, died during a business trip to France on Tuesday after a serious injury caused by a fall, Reuters reports. HNA, one of China’s most acquisitive conglomerates...
  • Volvo employees work at the company's first US production plant in Ridgeville, South Carolina, on Wednesday. Photo: Reuters

    Volvo Cars CEO says auto tariffs threaten jobs at new US plant

    Jun 21, 2018 9:57am
    Chinese-owned Volvo Cars opened a new auto factory in South Carolina on Wednesday as company executives warned that the US-China trade dispute could undermine plans to create up to 4,000 more auto jobs in the heavily...
  • Once the world’s most valuable public company, General Electric foundered in several key industrial markets in recent years, and a diversion into financial services steered it into the eye of the 2008 financial crisis. Photo: Reuters

    General Electric loses place in elite Dow Jones index

    Jun 20, 2018 8:18am
    General Electric Co. has lost its spot in the Dow Jones Industrial Average after over a century in the blue-chip stock index, a new blow to a company that once towered over the American business landscape...
  • Data collection and analysis of the entire process from production to shipment is at the core of Industry 4.0. Image: HKPC

    Industry 4.0 is a must for HK manufacturers

    - Jun 8, 2018 10:23am
    How much do you know about Industry 4.0? Is it about automated factories where robots do the work? Well, not quite. Without data collection and analysis, such a system cannot be called Industry 4.0. At the...
  • GE is expected to announce another deal as part of a plan to cut costs and boost the conglomerate's share price. Photo: Bloomberg

    GE nears deal to merge transportation unit with Wabtec: report

    May 21, 2018 9:04am
    General Electric Co. is nearing a deal to merge its transportation business with Wabtec Corp, a US maker of equipment for the rail industry, Reuters reports, citing sources familiar with the matter. A deal valuing the...
  • Xerox has terminated its planned deal with Fujifilm and reached a settlement with activist shareholders Carl Icahn and Darwin Deason. Photo: Bloomberg

    Xerox ends US$6.1 bln Fujifilm deal, settles with Icahn

    May 14, 2018 9:22am
    Xerox Corp announced that it is ending a planned US$6.1 billion deal with Japan’s Fujifilm and that it has reached a settlement with activist investors Carl Icahn and Darwin Deason. The company also said in a...
  • Hong Kong tycoon Li Ka-shing waves goodbye after announcing his retirement at a news conference on Friday. Photo: Reuters

    Li Ka-shing announces retirement, will stay on as senior adviser

    Mar 16, 2018 6:03pm
    Li Ka-shing, Hong Kong’s richest man, on Friday announced that he will step down as chairman of his business empire later this year but stay on as a senior adviser. He will be succeeded by his eldest...
  • The United States already has 29 duties in place against Chinese steel products, and China’s steel exports to the US fell to just 1 percent of its total steel exports last year. Photo: Bloomberg

    World steel markets unfazed by US tariff move

    Mar 9, 2018 8:05am
    The imposition of a 25 percent US tariffs on steel imports has raised fears of a global trade war but steel producers outside North America believe they can weather the storm without too much disruption to...
  • Russian magnate Oleg Deripaska is reported to be preparing to relinquish direct operational control of aluminum giant Rusal and energy firm En+. Photo: Reuters

    Russian tycoon Deripaska to quit roles at Rusal, En+: report

    Feb 20, 2018 9:32am
    Russian billionaire Oleg Deripaska plans to step down from his roles at aluminum giant Rusal and energy firm En+ Group, Reuters reports, citing sources familiar with the matter. Deripaska has decided to relinquish direct operational control...
  • US President Donald Trump holds a meeting on trade with members of Congress at the White House on Tuesday. Photo: Reuters

    Trump mulls tariffs, quotas on foreign steel, aluminum

    Feb 14, 2018 8:47am
    US President Donald Trump said on Tuesday that he is weighing a range of options, including tariffs and quotas, to address steel and aluminum imports that he said were unfairly hurting US producers.  During a meeting at...
  • Following a heart attack in 2014, Samsung chairman Lee Kun-hee, 76, has remained hospitalized in Seoul’s Samsung Medical Center. Photo: Reuters

    Samsung chairman named suspect in US$7.5 mln tax evasion case

    Feb 8, 2018 3:21pm
    Samsung Electronics’ ailing chairman, Lee Kun-hee, was named by South Korean police on Thursday as a suspect in an 8.2 billion won (US$7.5 million) tax evasion case that involved the use of bank accounts held by...
  • The Seoul High Court jailed Jay Y. Lee for two and a half years, reducing the original term by half, and suspended the sentence for charges including bribery and embezzlement. Photo: AFP

    Samsung scion Lee walks free as S Korea court suspends jail term

    Feb 5, 2018 3:39pm
    A South Korean appeals court on Monday suspended a jail sentence handed down to Samsung Group heir Jay Y. Lee, setting him free after a year’s detention amid a corruption scandal that brought down the former...
  • General Electric is struggling to reverse steep declines in some of its units and looking to sell off US$20 billion of assets. Photo: AFP

    GE faces regulatory probe after posting US$10 billion loss

    Jan 25, 2018 9:19am
    US securities regulators are probing a massive insurance charge recently announced by General Electric Co., the latest blow to the nation’s largest industrial conglomerate as it struggles to reverse steep declines in some of its units...
  • General Electric is re-evaluating its strategy and structure, and may split its major divisions into separately traded units. Photo: Reuters

    GE considering breakup as financial troubles worsen

    Jan 17, 2018 9:41am
    General Electric Co. is considering breaking itself up after a sharp shortfall in profits last year, the Wall Street Journal reports, citing chief executive John Flannery. Flannery said the Boston-based group is re-evaluating its strategy and...
  • Foxconn is Landing.ai’s first strategic partner in a venture that will use artificial intelligence in a factory's quality control efforts. Photo: Reuters

    Foxconn joins venture to bring AI to factories

    Dec 15, 2017 9:24am
    Andrew Ng, co-founder of some of Alphabet Inc.-owned Google’s most prominent artificial intelligence projects, launched a new venture with iPhone assembler Foxconn to bring AI and so-called machine learning onto the factory floor, Reuters reports. Consumers...
  • General Electric said the job cuts were essential because sales of new power plants are falling. Photo: Reuters

    General Electric to cut 12,000 jobs in power business revamp

    Dec 8, 2017 8:58am
    General Electric Co. said it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate’s latest effort to shrink itself into a more focused company, Reuters reports. The US company launched the cuts...
  • Geely's Lynk & Co. 01 model costs around 160,000 to 220,000 yuan, more than 50 percent cheaper than a comparable Volvo car. Photo: China Daily

    Chinese automakers moving upmarket

    - Dec 4, 2017 9:19am
    Leading Chinese automakers like Geely and Great Wall Motors have set their sights on the mid-range market, which used to be dominated by mainland joint ventures with international car brands. China’s high-end car market is largely...

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