China Eastern Airlines Corp (NYSE: CEA, SHA: 600115, HKG: 0670) agreed to purchase $400 million worth of aero engines and after-sales service from Pratt & Whitney, an aerospace manufacturer owned by United Technologies Corp (NYSE: UTX). Pratt & Whitney will deliver V2500 engines for 50 new Airbus A320 planes of China's second largest carrier by passenger traffic.
CSR Corp (SHA: 601766, HKG: 1766), a leading railway equipment manufacturer, said it secured ¥150 million in contracts from Cameroon's national rail company. This is CSR Corp's third contract with an African nation.
Nanning Sugar Industry Co (SHE: 000911), China's largest listed state-owned sugar maker, said it received regulatory approval for a ¥506 million private placement to fund production and develop energy saving technology.
Shanghai Aerospace Automobile Electromechanical Co (SHA: 600151) said it plans to work with the government of Zhangye, Gansu province to develop a 200MW solar power plant and build a photovoltaic module factory with an annual capacity of 100MW in the next three to five years. The company did not reveal how much money it will invest in the project.
Bank of Beijing Co (SHA: 601169) said it received regulatory approval to raise ¥11.8 billion from a private placement to replenish its capital.
Lucky Film Co (SHA: 600135), a color photographic materials producer, said it plans to invest ¥135.21 million expanding its factory of solar cell back films within a year starting September 2011.
$1 = ¥6.37