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Output posts slow gain

Business | Machinery manufacturing

CHINA'S manufacturers reported their output grew at a slower pace last month but an analyst forecasts that the decline may halt as the market has almost digested all inventories and this might lead the government...

Sale nets US$1.1bSale nets US$1.1b

Business | Machinery manufacturing

GENERAL Electric Co and a partner agreed to sell shipping-container lessor GE SeaCo for US$1.05 billion to China's HNA Group Co and Bravia Capital as CEO Jeff Immelt reshapes GE's finance business. GE will receive...

Joy buys coal machinery producer

Business | Machinery manufacturing

JOY Global Inc, the maker of P&H and Joy mining equipment, has agreed to acquire China's International Mining Machinery Holdings Ltd to add devices used in underground coal extraction. Private-equity firm Jordan...

Industrial production surges in June

Business | Machinery manufacturing

CHINA'S manufacturing output grew at the fastest pace last month since May 2010, beating analysts' expectations and eliminating concerns over a hard landing of the country's economy, although analysts predicted...

Zhenhua eyes more deals after US bridge project

Business | Machinery manufacturing

CHINA'S biggest heavy machinery maker wrapped up work on the new, tougher east span of the San Francisco Bay Bridge yesterday, hoping success with the US$6.3 billion project will help it clinch more overseas contracts. ...

Siemens Signs MoU

Business | Machinery manufacturing

GERMAN industrial conglomerate Siemens has signed a memorandum of understanding with China's top planning agency for the development of green technologies. The framework agreement will focus on technological innovation,...

Railway-related sector takes beating

Business | Machinery manufacturing

CHINA'S decision to reduce its investment in railways in the next five years has been quick to ripple through capital markets. Shares of companies such as CSR Corp and China CNR Corp - two major builders of national...

Manufacturing figures ease growth concerns

Business | Machinery manufacturing

THE growth of China's manufacturing activities dipped just 0.1 percentage points last month, easing worries over a sharp economic slowdown. Industrial output gained 13.3 percent from a year earlier, compared with...

US factory output growth plunges as costs bite

Business | Machinery manufacturing

US manufacturing activity expanded in May at the slowest pace in 20 months, the latest sign that a sharp rise in energy prices is hampering economic growth. The Institute for Supply Management, a trade group of...

Bank machines

Business | Machinery manufacturing

TALARIS, a global cash management solutions provider, yesterday opened its new plant in Pudong in Shanghai with multi-million dollar investment to tap the growing demand for advanced banking machines. The plant...

Higher costs slow industrial profit growth

Business | Machinery manufacturing

CHINA'S industrial companies reported slower growth of profit in March as rising production costs continued to erode their net income. Their profit expanded 32 percent year-on-year to 1.06 trillion yuan (US$162.5...

Local industry posts 12.5% output increase in Q1

Business | Machinery manufacturing

SHANGHAI'S industrial production grew 12.5 percent year-on-year in the first quarter, bolstered by fast expansion in machinery equipment and vehicles, the Shanghai Statistics Bureau said today. The first-quarter...

Recycling's the key

Business | Machinery manufacturing

CHINA is seeking to expand its re-manufacturing industry over the next five years in its general plan to boost the development of a recycling-based economy, a senior government official said yesterday. Xie Zhenhua,...

China's PMI may sustain steady pace

Business | Machinery manufacturing

CHINA'S manufacturing sector may maintain a steady pace in April despite frequent tightening measures launched by the government, according to a preliminary reading for the HSBC Purchasing Managers' Index. The...

Eying demand

Business | Machinery manufacturing

THYSSENKRUPP AG, the German industrial conglomerate, aims to tap demand from commercial vehicle makers in China by supplying a key component amid the nation's stricter emission standards and booming construction equipment...

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