Asian Activities Report for February 8, 2012: Great Wall Computer (SHE:000066) Partners with Satcon (NASDAQ:SATC) in Chinese Solar Projects
Anhui SaunaKing Co., Ltd. (SHE:300247), one of the leading manufacturers and exporters of sauna products in China, has proposed to acquire 100% stake in Saunalux, a German manufacturer of saunas and thermal cabins, for 2.1 million euros, and to invest a further 4.25 million euros in Saunalux as operating capital. Through the acquisition SaunaKing intends to expand its market position in Europe by utilising Saunalux's channel and resources, and to introduce Saunalux' high end brands into the Chinese market.
Suzuki Motor Corporation (TYO:7269) will establish a 50:50 joint venture company with Intelligent Energy Holdings PLC ("IEH") of UK, in February 2012, for developing and manufacturing fuel cell system. The Joint venture company, named SMILE FC System Corporation, aims to develop and commercialize a product by combining the fuel cell development technology of IEH, and control and mass-production technologies of Suzuki.
Suzuki Motor Corporation
Satcon Technology Corporation
Great Wall Computer Company Limited
Anhui Saunaking Co Ltd