Asian Activities Report for February 8, 2012: Great Wall Computer (SHE:000066) Partners with Satcon (NASDAQ:SATC) in Chinese Solar Projects
Sydney, Feb 8, 2012 AEST (ABN Newswire) - Great Wall Computer Company Limited (SHE:000066), a Chinese electronics contract manufacturer, has agreed to form a strategic sales and manufacturing partnership with Satcon Technology Corporation (NASDAQ:SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market. Under the partnership Great Wall has committed to an initial purchase of approximately 60 megawatts of Satcon's PowerGate Plus solutions, which are expected to be delivered by April and utilised for Great Wall's projects. The two parties will also work together to reduce cost through design and supply chain improvements.
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.
Asia Business News
Suzuki Motor Corporation
Satcon Technology Corporation
Great Wall Computer Company Limited
Anhui Saunaking Co Ltd