Quick review at company events Nov 13-19
(China Daily)Updated: 2006-11-20 09:04
R&D expansion
Honeywell said last week it will invest US$13.5 million to expand its research centre in Shanghai, to better support its growing business in China and the rest of the world.
The expanded R&D centre in the Zhangjiang High-tech Park will house engineering, design and development work for the New Jersey-based company's four key business sectors, specialty materials, aerospace, automation control and transport. The expansion is expected to be completed next July. The original research centre was launched in 2004 with an investment of US$80 million.
Petrochemical project
ABB, the leading power and automation technology group, last Tuesday signed a framework agreement for some 96 million yuan (US$12 million) with SINOPEC's Fujian Refining & Chemical Co Ltd. ABB will supply both power and automation products to the company's Fujian Refining and Ethylene Integrated Project.
Since 2004, ABB has played an active role in this project, being selected as project management contractor. ABB has also provided process technology and front-end engineering design service for the ethylene unit as well as procurement service in off-shore supply. This is the first time ABB is providing power products to the project.
Wireless music service
China's largest mobile operator, China Mobile, announced recently its co-operation with the New York-based media giant News Corp by kicking off a wireless music service.
It is the first move of China Mobile and News Corp since they established a strategic partnership this past June, when the mobile communications company bought a 19.9 per cent stake in Phoenix Satellite Television from Star Group, the Asia-based television and entertainment subsidiary of News Corp. The purchase was regarded as a sign of China Mobile's ambition to enter the media industry and News Corp's strategy to expand its influence in China by looking to new media.
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