Copyright 2024 - Ningbo Life / Ningbo Expat

Huaxiang Electronics (002048) To Acquire Sellner GmbH And IPG

November 10 – Ningbo Huaxiang Electronics (002048) will spend 27.3 million euros to purchase three companies, reports yicai.com, citing a company filing.

Huaxiang will purchase Sellner GmbH and IPG Industrieplast GmbH for 18.7 million euros, US Sellner Corporation for 2.6 million euros, and Wech CHEB spol.sr.o. for six million euros.

Following the acquisition, the Chinese firm will become the second biggest player in the global interior decoration wooden component market.

German Sellner is a leading supplier of high-end automobile interior decoration components, and the second largest supplier of natural mahogany high-end automobile interior decorations with 20 percent of the market.

Sellner has long-term supply agreements with BMW, Daimler and Audi. In 2010, it had total assets of 129 million euros and net assets of 20.61 million euros, with sales of 220 million euros in the same year.

The acquisition will allow the Chinese buyer to possess the core technology required for wooden interior decoration production, marking a step forward towards its goal of becoming an international component supplier.

At the end of September, the firm injected capital and updated production of its high-end interior decoration, with a view towards supplying BWM and Volkswagen. The project is expected to generate net profits of 57.37 million yuan on revenues of 230 million yuan.

Ningbo entrepreneur first in China to own an entire island

Huang Yimin
A heretofore unknown Ningbo businessman has been catapulted into the media limelight for becoming the very first person in China to own an entire island. Huang Yimin (黄益民) coughed up 3.44 million yuan ($540,000) on Tuesday to own the property rights of the island for 50 years.

Global Times reports:

Huang Yimin, the head of tourism company Xiangshan Marine Travel In Holiday, was granted the certificate of use right for Danmenshan Island in Ningbo by officials from both the State Oceanic Administration and the Zhejiang Province Ocean and Fisheries Bureau on Tuesday. He said he would develop the island into a tourism resort, according to CNR.

"We started to manage and develop the island in 2009, and we are developing a new tourism program - island hunting. So, we are raising game animals such as wild boar, goats and pheasants in the hunting area," a staff member surnamed Gu with Huang's company told the Hangzhou-based Qianjiang Evening News.

Gu added the number of tourists on the island will be limited to fewer than 200 every day to protect the island and to ensure safe hunts, the Qianjiang Evening News reported.

Earlier this year, Chinese tycoon Huang Nubo (no relation) made international headlines for his plans to buy up 300 square kilometers of Island.

China Food Expo 2011 to be held

News comes from Ningbo Trade Bureau that China Food Expo 2011 is to be held in Ningbo International Conference and Exhibition Centre from November 30 to December 4.

In this year's expo, there are eight exhibition halls with a total area of 72,000 square meters and 3600 international standard booths. So far, it is said that exhibitors from all provinces, municipalities and autonomous regions, as well as delegations from Hong Kong, Macau and Taiwan will attend the expo. Some leading food enterprises in China, such as Yurun Group and Dong-e E-jiao Group, have applied from raw space for their products. In addition, some multinational retail groups, including Metro, E-Mart, Auchan, Tesco and Carrefour, are to come to make purchases in the Expo.

In terms of the exhibitors, internationalization will be a major feature of this year's Expo. It is estimated that there will be a 30% increase in the amount of the overseas food enterprises attending the Expo

13th China Plastics Expo opened in Yuyao

On the evening of November 5, the 13th China Plastics Expo, hosted by China Petroleum and Chemical Industry Association, CNPC, China Petroleum & Chemical Corporation, Sinochem Group, China National Light Industry Council and Yuyao Municipal Government, opened in Yuyao.

Zheng Wantong, Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference, sent his letter of congratulations.

Officials of the central government, Zhejiang provincial government and Ningbo municipal government including Liu Fan, Mao Guanglie, Chen Yanhua, Liu Qi, Shi Xiaoguo, Xu Mingfu and Zhang Minghua, attended the opening ceremony.

In his letter of congratulations, Zheng Wantong says that the 13th China Plastic Expo in Yuyao is a great event for the plastics industry of China, and that it is sure to promote the plastics industry of China and the world. He believes that the expo, themed on “opening, integration, upgrading and win-win”, is sure to play an positive role in promoting the plastics industry of China.

Mao Guanglie announced the opening of the 13th China Plastics Expo.

On behalf of Ningbo Municipal Government, Xu Mingfu made a speech at the opening ceremony.

It is reported that since 1999, the expo has been run in Yuyao for successively 12 years. Statistics show that in the past 12 years, 1,565,000 merchants from 5,980 enterprises have participated in the expo. The total turnover amounts to 33.75 billion yuan. 391 joint venture projects were signed, and the investment totals 3.709 billion yuan. In recent years, China Plastics Expo has been honored as Best Exhibition of Brand Promotion of China, Most Influential Professional Expo of China, and it is a winner of the Golden Finger Prize for Famous Brand Exhibition of China

Ningbo Food Festival to be held

The annual Ningbo Food Festival is approaching. On October 31, news came from the press conference for 2011 Ningbo Food Festival that the Festival will be held from November 5 to 14, with its opening ceremony and main activities landing in Ningbo Century Oriental Plaza.

In order to display the classical food, to promote famous brands and to benefit the citizens, the organizing committee of the festival planned 15 theme activities focusing on high quality food and humanistic food to make the whole festival a worthwhile event for all those present.

Food itself always plays the leading role in the Food Festival. From November 5 to 7, the 2011 Quality Food Exhibition will be held in Ningbo Century Oriental Plaza. In the exhibition, selected dishes from restaurants and star-rated hotels and well-known snacks from all over the country will be displayed for sale. During the session, some grand restaurants and hotels in Jiangdong District will jointly carry out the large-scale promoting activity of "quality food carnival in Jiangdong District". Besides, from November 11 to 13, the hotels in Jiangdong District will offer special concessions to their customers by putting off the check-out time from 12 o'clock to 2 o'clock pm.

A range of theme activities will be held in this year's festival in order to popularize the food culture. The theme handbook for the 5th Food Festival titled "Taste, Delicacy and Charm" will be published. An exhibition of food action arts and a painting and calligraphy exhibition with famous local masters present will be held.

During the session of the festival, the department stores and supermarkets in Jiangdong District will engage in such theme activities as supermarket festival and treasure hunting activity. The planned "Triple-river Business Conference Base" will be unveiled in the festival. All these activities are sure to make this year's Food Festival a glamorous event.

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