Tianjin Investment News: May 30Friday, May 30, 2008 1:03
OVERSEAS CHINESE INVESTMENT FUND ESTABLISHED IN TEDA
Recently the Overseas Chinese Investment (Tianjin) Fund (Limited Partnership) registered in TEDA. Focused on private equity investment, the Fund aims at funding the projects that enjoy the incentive policies of Tianjin municipal government and the competitive projects in the Circum Bohai region, and meanwhile endeavors to expand China’s investment in resource projects across the globe. The Fund plans to raise a capital of 5 billion RMB yuan.
It is learned that with the strong support of All-China Federation of Returned Overseas Chinese and Tianjin Federation of Returned Overseas Chinese as well as all the Chinese living abroad, relatives of overseas Chinese, and overseas Chinese entrepreneurs, the Fund, with Friedmann Pacific Assets Management Co., Ltd. under Hong Kong based Friedmann Pacific Investment Holdings Limited as the initiator, is jointly set up and run by Friedmann Pacific Assets Management Co., Ltd. and Raiffeisen Zentralbank Österreich AG, in association with overseas central banks, China’s famous enterprises and other institutional investors from home and abroad. In light of China’s relevant laws and policies of supporting the financial reforms and pilot projects in TNCD, Tianjin Administration for Industry and Commerce and the Administrative Commission of TEDA conducted innovation in the registration administration and services and made breakthroughs in terms of name management regulations, so that the Fund quickly completed the registration procedures for its establishment and easily obtained its market entry permit in Tianjin. (Tr. by Dong Jing)
Reichold Inc. of the U.S. signed a letter of intent for investment with TEDA
During the recent China Tianjin Trade Fair & Investment Talk, the US-based Reichold Inc. signed a letter of intent for investment with TEDA. With an estimated total investment of 40 million and registered capital of nearly 12 million dollar, the output value of the project is expected to reach nearly 100 million yuan in the year when it starts production and 500 million yuan in 2011. The project plans to produce 50,000 ton synthetic resins. Most of its products will be sold in the Chinese market and used on blades of wind power equipment, and a few will be exported to the neighboring countries (in the East and Southeast Asia).
Reichold is the world’s largest polyester supplier and one of the top 100 manufacturers in North America. With over 80 years of history in the research of polymer science and technologies, Reichold provides the related epoxy vinyl ester resins, gel coat resins and structural adhesives as well as a complete series of solutions to the polymer industry. Besides, Reichold is a leading supplier of coating resins enjoying broad markets and applications. With its headquarters and global R&D center in the Research Triangle Park of North Carolina, the U.S. and 18 manufacturing facilities in North America, South America, Europe, and Middle East, Reichold saw its global revenues over 1.2 billion dollars in 2007. (Tr. by Chen Yu)
IMI CORNELIUS (TIANJIN) CO., LTD. HOLDS A CEREMONY FOR THE 10TH ANNIVERARY OF ITS FOUNDING AND THE OPENING OF ITS 2ND STAGE FACILITY IN TEDA
Recently IMI Cornelius (Tianjin) Co., Ltd. held a ceremony for the 10th anniversary of its founding and the opening of its 2nd stage facility in TEDA.
A wholly-owned subsidiary of IMI Cornelius, IMI Cornelius (Tianjin) Co., Ltd. is a modern foreign-invested company which combines rich design, stable quality, and reliable services. Its main products involve beverage dispensers, beer coolers, milkpaks, and refrigeration equipment. Besides, IMI Cornelius supplies accessories of beverage dispensers, including manometers, carbonator tanks, carbonators, etc. Founded in 1997, IMI Cornelius (Tianjin) Co., Ltd. is the first solely British-invested company in TEDA. The new facility of IMI Cornelius (Tianjin) Co., Ltd. started its trial production on Dec. 3, 2007. After its expansion, IMI Cornelius (Tianjin) Co., Ltd. owned 12,000-m2 workshops and 1,500-m2 offices, and increased its annual production capacity from the original 160,000 standard hours to 440,000 standard hours.
It is learnt that established in 1862, IMI is a leading and innovative multinational chemical group which aims at providing customers knowledge-based innovative solutions. Consisting of such five business units as severe service, fluid power, indoor climate, beverage dispense, and merchandising systems, IMI boasts a turnover of £1.5 billion and 14,600 employees worldwide. (Tr. by Chen Yu)
NAMEPLATE OF TEDA IPR INDUSTRIALIZATION BASE UNVEILED
Recently, the TEDA IPR Industrialization Base started operation at TEDA Bio-medicine Mansion.
During the nameplate unveiling ceremony of the Base, the TEDA IPR Complaint Work Station was also launched to receive complaints through service hotlines 12312 and 25201312. With such a service arm, the local government will be able to highlight its protection and respect of IPR and create a world-class investment environment.
As the first of its kind in Tianjin, the TEDA IPR Industrialization Base is expected to provide a healthy platform for the industrialization of advanced technologies home and abroad, encourage these technologies to gather in TEDA and forge a clustering effect, expedite the application, transfer and industrialization of patents, facilitate R&D and incubation through effective cooperation between industry, universities and research agencies, and upgrade the innovation and R&D capacity of the entire region.
Through the TEDA IPR Industrialization Base, TEDA Science and Technology Development Bureau, TEDA Venture Investment Company and other local agencies will provide incoming bio-medical companies with preferential policies, investment and financing-related services and information so as to attract more hi-tech resources from home and abroad, help them to create and enjoy IPR in an innovation-oriented environment, incubate a number of outstanding bio-tech companies with innovative hi-tech resources globalwide, and foster a new hi-tech industry cluster. In 2008, the Base plans to provide weighted support to 10 patented bio-medicine projects and strives to get recognition from the municipal government as a model industrialization base. By the end of 2008, bio-medicine companies in the Base are expected to produce 200 million yuan, reach a patent industrialization rate of 50%, and obtain 80 patents. By 2010, the Base will see an output of 400 million yuan, obtain 100 patents, and realize a patent industrialization rate of 60%. (Tr. By Zhang Shanshan)
GROUNDBREAKING CEREMONY HELD IN TEDA WEST FOR NEW PLANT OF EARTH (TIANJIN) CHEMICAL CO., LTD.
Recently the groundbreaking ceremony for the new plant of Earth (Tianjin) Chemical Co., Ltd. was held in the West Zone of TEDA.
With a registered capital of US$ 5.8 million and a total investment of US$ 7.88 million, Earth (Tianjin) Chemical was established in TEDA early in 1990. With over 90 employees, it mainly makes household products, insecticides, artificial flowers, items of clothing, and air fresheners. As the new plant starts operation, Earth (Tianjin) Chemical is expected to accumulatively have a sales income of 660 million RMB yuan and pay 53.6 million RMB yuan in taxes in five years.
It is learned that the Japan based Earth Chemical Co., Ltd. was set up in 1892 with a registered capital of 3.1361 billion Japanese yen (around US$ 28.51 million). With 900 employees, Earth Chemical is principally focused on the production of medicines, medicines for external application, medical devices, household chemicals, and foodstuff. In 2007, it witnessed a sales value of 89.454 billion Japanese yen (about US$ 820 million) and owned 50% of the Japanese market of household insecticides. (Tr. by Dong Jing)
NEW PHA PLANT BREAKS EARTH IN TEDA WEST
Recently, Tianjin Green Bio-Science Co. Ltd. broke earth for its 10,000-ton-capacity PHA plant in the West Zone of TEDA.
Registered in TEDA in late 2003 as a professional developer and supplier of degradable bio materials and products, TGBS received 20 million dollars from DSM Venturing, the corporate venturing unit of Royal DSM N.V., a world-renowned life science and material science company, for its first round financing on March 05 this year. The money, the biggest venture capital investment in China’s biopolymer innovation industry so far, will be injected into TGBS’ PHA production base in TEDA, also the biggest of its kind countrywide. The project has also gained venture capital from KPCB China, China Environment Fund, CRCI Fund, Northern Light Venture Capital, and LESS.
PHA, a 100% bio-based degradable green material that can be made into fibers, films and foams for auto-making, biomedicine and electronic industries, is an ideal and eco-friendly solution to plastic pollution which worries governments around the world. From June 01 this year, China will launch a nationwide ban on the production, sales and use of plastic shopping bags thinner than 0.025 mm, promising rosy prospect for PHA. The new PHA plant of TGBS will become operational in 2009 with an annual output capacity of 10,000 tons. Its high valued-added PHA products, ranging from high-tensity fibers, heat-sensitive glue, aqueous emulsion glue, tissue engineering materials to disposable packages for food and other daily commodities, are expected to replace 50% of traditional petroleum-based materials on the market. (TR. by Zhang Shanshan)
NEW ERAMET FACILITY OPENS IN TEDA
Recently, Erasteel Innovation Materials, an investment of the French Eramet Group, held its opening ceremony in TEDA West.
With a total investment of 15 million US dollars and a registered capital of 8 million US dollars, the Tianjin facility is expected to supply drawing cold-rolling products for high-performance tools or components with high technology content. It will equip world-class clients such as Bosch, Kennametal and Airbus with high-intensity cutting tools, diesel injection systems, and aerospace fasteners.
Eramet Group is the world’s largest high-speed steel manufacturer, the second largest supplier for closed-die forged parts for aeronautic, astronautic and energy sectors, and a leader in high-performance specialty steel and high-temperature alloy production. Its alloys division, a crucial unit of the Group, registered a sales turnover of 3.8 billion euros last year and now employs150, 000 people globally. (TR. by Zhang Shanshan)
TEDA beGINS to build a Modern service DISTRICT
To propel the reform and opening-up of the Tianjin New Coastal District and to prepare for the development of high-end modern services, TEDA will begin the construction of the TEDA Modern Service District (MSD), an important measure of TEDA to develop a new economic platform.
Located in the south and north of the 2nd Avenue of TEDA, the MSD consists of a main area and an expansion area. As the main area, the CBD has completed its planning. With a total construction area of 650,000 m2, the CBD contains a comprehensive building for modern service industry, office buildings, a grand theatre, a museum, a central plaza, underground parking lots and an underground traffic system, etc. Situated in the south and north of the 2nd Avenue, the expansion area plans to cover a land of 106,000 m2 and a total construction area of 520,000 m2.
To attain advanced design, rational functions, brand construction, eco-friendly buildings, and economical operations, the project will invite the world’s top planning, designing and project management companies, world-class engineering companies and international property management companies. Moreover, with special attention on building materials, construction technology, eco-friendly concept, intelligent facilities, energy conservation and emission deduction, etc., the project will foster the world’s most advanced platform for the development of modern services and absorb outstanding domestic and foreign clients. The construction of the project will last three years.
The modern service industry of TEDA saw good progress in business invitation in 2007. TEDA attracted such financial institutions as Motorola (China) Finance Limited, Binhai Comprehensive Operation Center of China Everbright Bank?ICBC Financial Leasing Co., Ltd, East Resources Investments, Tianjin Jiadexin Investment Association, Bohai Golden Stone Investment Fund, etc., such service outsourcing projects as Tencent (Tianjin) Backup Data Center, Dalian Hi-Think Computer Technology , VanceInfo Technologies, Beyondsoft, etc., and such modern logistics projects as Tong Fang Global (Tianjin) Logistics, Tianjin Port Haifeng Bonded Logistics, Schneider Logistics, etc. (Tr. by Chen Yu)
FIRST BUS LINE BETWEEN TNCD AND TIANJIN AIRPORT OPENS
As the new terminal of Tianjin Binhai International Airport was officially put into use on April 28, 2008, the express bus line 1 and 2 joining TEDA and Tanggu District to the Airport have also officially started their operation. In the charge of TEDA Bus Company, the new lines, which fill a gap in the availability of the buses linking TNCD to the Airport, play a very important strategic role in boosting the development of TNCD.
In recent years, due to the development and opening-up of TNCD and construction of the new terminal of the Airport, the government and people of Tianjin have been focusing their attention on solutions for public transport between the Airport and TNCD. Therefore, at the beginning of the year 2008, TEDA Bus Company discussed with the Airport about launching special bus lines. Thanks to the friendly cooperation between the two sides and the strong support of Tianjin Passenger Traffic Administration Office, the decision was made that two new bus lines with regular routes and schedules would be opened to connect TEDA and Tanggu with the Airport. The new lines, which are now the easy access to the Airport for the air passengers, have made effective contribution to the development of TNCD and improvement of the local transportation system. (Tr. by Dong Jing)