DEAL

Gide aids KME in acquisitions

French law firm Gide Loyrette Nouel Shanghai advised the Italian-German KME Group, one of the world's largest manufacturers of copper and copper alloy products, on three simultaneous acquisitions in China. The transaction involved the acquisition by KME of 40 percent of the equity interest held by its Chinese partner in two equity joint ventures, as well as the acquisition of 70 percent of the equity interest in a local company to be transformed into a new joint venture. The Firm assisted KME on all aspects of the transaction including structuring options, legal due diligence and drafting of project documents. This transaction was completed in accordance with a previous agreement entered into between the parties two years ago. Gide Loyrette Nouel had already advised KME in connection with this initial transaction. The Gide Loyrette Nouel Shanghai legal team representing KME included David Boitout, partner and Bruno Grangier, senior associate.

APPOINTMENT

CBRE appoints new directors

CB Richard Ellis appointed Craig Jones Director of Industrial and Logistics Services for northern China with effect from May 8th, 2007. Jones will be responsible of overseeing and further driving expansion of the operation of the company's industrial and logistics services business in north China, working closely with Greater China Executive Director Andrew Hatherley in Beijing. Jones will also be responsible for generating and securing industrial consultancy and agency mandates in Beijing, Tianjin as well as north China. Jones is a veteran specialist in the sector with 12 years' experience in his native Australia. CBRE also appointed Eric Chan senior director of asset services for eastern China, with immediate effect. Chan will be responsible for overseeing the business operations of the Asset Services business line both in Shanghai as well as other rapidly developing cities within eastern China such as Hangzhou, Nanjing and Ningbo. Prior to joining CB Richard Ellis, Chan was involved with the management of International Finance Centre in Hong Kong. His particular specialty relates to the integration of hospitality solutions with property management services and effectively building brands via product differentiation. LAUNCH

Air France adds Shanghai-Paris flights

Starting July 1st, 2007, Air France will add two weekly flights on its Shanghai-Paris route, taking the total number of flights between Shanghai and Paris from 10 to 12, with seven daytime flights and five evening flights each week. In addition to these 12 weekly flights, Air France also has a code-share on the daily service operated by China Eastern between Shanghai Pudong International Airport and Paris Charles de Gaulle International Airport. The new flights will be operated with B777-200, offering three classes of service, with 263 seats in all. The first additional flight will depart from Paris CDG on 30th June. OPENING

BASF plans new MDI plant in Chongqing

BASF revealed a plan for the construction of a new MDI (diphenylmethane diisocyanate) plant in Chongqing municipality in western China. The German chemical company has already signed a corresponding memorandum of cooperation with Chongqing Chemical and Pharmaceutical Holding (Group) Company and local authorities. The start-up is planned from 2010 onward, and the plant is expected to have a capacity of 400,000 tonnes per year of crude MDI. "The market for polyurethanes in China is expected to grow at double-digit rates and will become the largest in the world within the next decade," said Jacques Delmoitiez, president of BASF's polyurethanes division. "Following on from the investment in our Caojing MDI/TDI facility, we are moving closer to finalizing the location for our next major polyurethanes investment in China." OTHERS

Akzo Nobel projects big revenue for 2012

Akzo Nobel CEO Hans Wijers has announced new strategic targets for China which outline the company's ambition to achieve revenues totalling US$2 billion (€1.5 billion) by 2012. The last few years have seen significant Akzo Nobel activity in China, where the company's 2006 revenues totalled US$800 million. As well as recently announcing a €250 million investment for a new chemicals multi-site in Ningbo, Akzo Nobel has also opened new coatings facilities in Suzhou, Langfang, Tianjin and Jiaxing, bringing the total number of plants to 22 and the number of employees to nearly 5,000. "By hitting our targets we will have quadrupled our revenues in China in well under 10 years. We also expect the Asia Pacific region to have almost doubled its contribution towards the company's global revenues in the next five years," Wijers said.

CEIBS holds EU 50th anniversary symposium

The China-Europe International Business School (CEIBS) in Shanghai marked the 50th anniversary of the signing of the Treaty of Rome with a symposium on the event titled The Treaty of Rome: Genesis, Experiences, Lessons. The symposium was divided into two sessions, with the first on "reconciliation, integration and regional cooperation" in Europe following the Second World War and the second on the lessons and experiences of Sino-European relations over the last half-century. Speakers included Serge Abou, the Ambassador of the EU Delegation to China, Albrecht von der Heyden, Consul General of Germany and João Maria Cabral, Consul General of Portugal, as well as many distinguished academics and business representatives.

DHL carries Special Olympics torch

DHL announced a global partnership with Special Olympics International in which it will provide logistical support for the Law Enforcement Torch Run for the 2007 Special Olympics World Summer Games in Shanghai, and the 2009 Special Olympics World Winter Games in Boise, Idaho, USA. The Torch Run is the Special Olympics' largest grass-roots fundraiser and public awareness vehicle, with the objective of showcasing the unification of society and the inclusive nature of the Special Olympics. DHL will use its network of hubs and gateways to move the "Flame of Hope" across these cities using a combination of DHL cargo planes, vans and boats to ceremony locations in each host city.