IN BRIEF (Page 24)

German firm supports women's development

SAP, a multinational software manufacturer based in Germany, donated 1 million yuan ($149,700; 134,310 euros) to the China Women's Development Foundation in Beijing on Aug 25, in a bid to support the implementation of the foundation's Her Responsibility Dream Project. The donation was made during the second Women's Leadership Summit, focusing on women's empowerment, development and leadership in the era of digital transition, where SAP and the foundation built a partnership.

iRobot may quadruple investment in China

iRobot Corp, the US-based robotic technology provider, which is known primarily as a maker of robot vacuum cleaners, is planning to triple or quadruple its investment in the Chinese market next year, in view of its average annual growth rate of 70 to 100 percent in China. The company opened its Chinese headquarters in Shanghai on Sept 1. On Aug 30, it launched its Braava jet mopping robot designed for the Chinese market, starting at 1,999 yuan ($300; 270 euros).

Chevron LNG deal may spark spot market

Chevron Corp's liquefied natural gas supply deal with China's ENN LNG Trading Co may boost the formation of a spot market for the fuel in Asia. Chevron signed a 10-year supply deal with ENN to supply up to 650,000 metric tons per year of LNG, with first delivery expected in 2018 or in the first half of 2019, Chevron said in a statement on Aug 29. ENN is a subsidiary of ENN Energy Holding, which is one of China's largest gas distribution companies and operates in 150 Chinese cities. The firm is also constructing a LNG import terminal in the city of Zhoushan that is planned to start by 2018.

Anta Sports seeks international M&A

Anta Sports Products Ltd, China's largest athletics apparel company, said it is seeking to buy international sportswear brands as China's growing middle class becomes more health-conscious and physically active. "Anta's brand is famous enough in China's mass market, so we are more interested in acquiring higher-end brands," Chief Financial Officer Jim Lam said on Aug 29. China's sportswear industry is seeing a boom even as the economy slows as more Chinese engage in sports.

Creat Group to sell UK plasma firm

China's Creat Group Corp plans to sell a British maker of blood plasma therapies to publicly traded affiliate Shanghai RAAS Blood Products Co, according to sources. Creat plans to inject UK-based Bio Products Laboratory Ltd into Shanghai RAAS partly to avoid competition between the companies, said sources who did not want to be identified. Privately held Creat agreed in May to buy BPL, which specializes in treatments made from blood plasma, for 820 million pounds ($1.08 billion; 967 million euros).

Firm to open cable factory in Senegal

A Chinese multinational company is set to open a new project in Senegal in September producing coaxial cables. According to Director-General Amadou Ly Bocoum, Senegal-based Caleb Cable Africa SA - the first African subsidiary of Caleb Cable Industrial Ltd will be fully managed by local workers. Caleb Cable specializes in manufacturing power cables destined for African and other world markets.

Self-elevating drilling platforms delivered

Two self-elevating drilling platforms were delivered on Aug 25 at COSCO Dalian Shipyard in Dalian, Liaoning province. Owned by UK-based Foresight Group and rented by an Indian company, they will be engaged in drilling operations off the west coast of India. "We are all aware that the delivery of these rigs into the current market is a very special event as so many companies struggle to survive," said Richard Sadler, CEO of Foresight Group. With an overall length of 74 meters and molded breadth of 63 meters, each can accommodate 120 workers.

( China Daily Africa Weekly 09/02/2016 page24)