Metals output
Output of 10 types of non-ferrous metals surged 23.44 percent in China to hit 23.6 million tons in 2007, ranking the country No 1 for the sixth consecutive year, according to China Non-ferrous Metal Industry Association.
Among the non-ferrous metals, the output of electrolyse aluminum increased to 3.2 million tons in 2007, accounting for 72 percent of the total output.
Ice cream plant
Nestle opened a new ice cream factory in Guangzhou, capital of Guangdong province, yesterday, the group's largest ice cream plant in Asia.
The 250 million yuan plant will increase Nestle's ice cream productivity in South China to 64 million liters a year, three times its old plant's production capability. This will be enough to meet the demand of the whole of South China.
Nestle will significantly promote its high-end ice cream brand, Dreyer's, in the South China market in the future, said Peter Brabeck-Letmathe, CEO of Nestle Group worldwide.
CEO resigns
Tom Group, the multimedia group operating on the mainland, Hong Kong and Taiwan, said its CEO and executive director Tommei Tong resigned due to pregnancy, and has been succeeded by chief operating officer Ken Yueng.
The company also reported revenue of HK$2.68 billion in 2007, 4 percent lower than 2006 and profit fell from HK$357 million to HK$204 million, dragged by its Internet business, Tom Online, which suffered from tighter regulatory pressures on the mainland.
Profit up
China Shipping Development Co, the nation's biggest oil tanker company, said first-quarter net profit will rise more than 50 percent because of higher domestic freight rates.
The Shanghai-based company's domestic coastal bulk shipment contracts for 2008 "have shown an average increase of 40 percent over the 2007 rates", China Shipping said in a statement to the Hong Kong stock exchange.
Nobel goal
Dutch coatings and chemicals company Akzo Nobel has said its China operations reported revenue of $1.03 billion last year, an increase of 16 percent from a year earlier.
The company has announced its target for the Chinese market, which is to achieve revenue of $2 billion by 2012.
This year the company will start building a chelating agents plant in Ningbo, which is to come into operation in 2009.
Expo Central China
The third Expo Central China is to be held in Wuhan, capital of Hubei province, from April 26 to 28.
The event, boosting trade and investment of the six provinces of Hubei, Henan, Shanxi, Hunan, Jiangxi and Anhui, is expected to attract 5,123 businesspeople at home and 3,420 from abroad, according to the organizing committee.
Gas gains
Hong Kong & China Gas Co, the piped-gas supplier controlled by billionaire Lee Shau-kee, posted a 58 percent increase in 2007 profit because of a one-time gain from acquiring a stake in a fuel distributor in China.
Net income rose to HK$9.27 billion, or HK$1.53 a share, from HK$5.86 billion, or HK$1.06 a share, a year earlier, the company, known as Towngas, said in a statement.
Earnings rise
Wharf (Holdings) Ltd, the best-performing property stock this year in Hong Kong's benchmark Hang Seng Index, said profit last year rose 22 percent on investment gains and property sales in China.
Net income rose to HK$13.1 billion, or HK$5.35 a share, from HK$10.76 billion, or HK$4.39, in 2006, the company said in a statement to the stock exchange.
Source: China Daily/Agencies
|
Comment
Tell A Friend
Print Format
Save Article