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Archive for May 2013

DHL Welcomes Lions to Hong Kong to Kick-off 2013 Tour

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  • Legendary DHL Rugby Ambassadors from the UK and Hong Kong to encourage young talent with local students in support of GoTeach
  • DHL chosen as naming rights partner for the 2013 British & Irish Tour to Australia as part of its global support for rugby

HONG KONG, May 29, 2013 /PRNewswire/ — DHL, the world’s leading logistics company, today announced it will be supporting the much anticipated British & Irish Tour to Australia 2013 this summer when it kicks off in Hong Kong on 1 June. The match marks the first time the Lions will play in Hong Kong’s history.

The DHL Australia 2013 Lions Tour complements the company’s global support of rugby, which is as international as its network extending to local rugby teams in countries such as Kenya, South Africa and Fiji. DHL also successfully delivered rugby to the world in 2011 as the Official Logistics Partner of the Rugby World Cup 2011, title sponsor of the DHL Hong Kong 2010 Bledisloe Cup and was a partner of the 2005 DHL Lions Series of New Zealand.

“As a city with a rich association with rugby, DHL is excited to welcome the Lions to Hong Kong as part of the DHL Australia 2013 Lions Tour. As a sport played all over the world that celebrates speed and dedication, rugby is the perfect fit for us as a global brand. We’re proud to continue our long association with the sport and look forward to delivering this exciting event to Hong Kong,” said Ken Lee, Head of Commercial, Asia Pacific and Managing Director, Hong Kong and Macau.

DHL will also offer a group of 90 local students, aged five to six from three Po Leung Kuk Kindergartens, a chance to meet some renowned rugby heroes ahead of the match. Three DHL Rugby Ambassadors, Hong Kong-born Rowan Varty of the Barbarians and Lions legends Mike Teague and Peter Winterbottom, will play games of rugby with the children from low-income families to help them learn more about the game on 31 May at the Hong Kong Football Club. The event supports the company’s GoTeach program by encouraging educational opportunities for young people. It follows DHL’s longstanding promotion of youth rugby in the territory, including past support for local mini rugby events.

“I am very pleased that we have been able to partner with DHL as the major naming rights partner of the DHL Australia 2013 Lions Tour. We have heard a lot about the passion and energy Hong Kong has for rugby and we look forward to meeting local students to help share some of our tips and experiences. This iconic event is always a major occasion for fans and this tour promises to be no different,” said rugby legend Mike Teague, DHL Ambassador for the Hong Kong match. 

The tour begins on Saturday, 1June when the Lions face the Barbarians at Hong Kong Stadium in their second-ever match-up. The Lions play 9 matches in total, with the remainder taking place across Australia, including three test matches against the Qantas Wallabies.


DHLThe Logistics company for the world

DHL is the global market leader in the logistics industry and “The Logistics company for the world”. DHL commits its expertise in international express, air and ocean freight, road and rail transportation, contract logistics and international mail services to its customers. A global network composed of more than 220 countries and territories and about 285,000 employees worldwide offers customers superior service quality and local knowledge to satisfy their supply chain requirements. DHL accepts its social responsibility by supporting environmental protection, disaster management and education.

DHL is part of Deutsche Post DHL. The Group generated revenue of more than 55 billion euros in 2012.

View in PR Newswire Asia website: DHL Welcomes Lions to Hong Kong to Kick-off 2013 Tour

Written by asiafreshnews

May 29, 2013 at 7:47 pm

Posted in All releases

JinkoSolar to Supply 5MW of Solar Modules to Sunkon Energy in India

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SHANGHAI, May 29, 2013 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a leading global solar power product manufacturer, today announced that it has completed the delivery to a Photovoltaic Solar project of total 5 MW in collaboration with Sunkon Energy (P) Ltd. in Ghespur, Gujarat, India.

Sunkon Energy (P) Ltd. has been using JinkoSolar modules since December, 2012 and Jinko PV modules have then successfully been generating power at a high performance ratio. With a total of 17,886 JinkoSolar poly-crystalline modules installed, the project was completed within 58 days and covers an area of 80,000 square meters. It is expected to produce 8,030 MWH of electricity per year and reduce CO2 emission by 7,882 tons.

Being one of the world’s most attractive emerging markets, India is densely populated, with increasing electricity demand and has high solar irradiation, an ideal combination for using solar power. India‘s Ministry of New and Renewable Energy has introduced aggressive and favourable solar policies to spur the development of solar energy with Gujarat state as the home to the largest solar program in India.

“I am proud of the great progress we have made so far in India, In only a few months we managed to enter into this promising market reaching a level of 80 MW sales of Jinko PV modules in Solar plants,” commented Mr. Arturo Herrero, Chief Marketing Officer of JinkoSolar. “While we were not among the first companies to enter India‘s solar market, we have made our presence well-known rapidly and we managed to establish a firm foothold and good brand recognition. Armed with a highly skilled and devoted team in India, we are ensuring our customers are provided with reliable products, competitive conditions and excellent local services from our professionals in Delhi and Mumbai.”

“We have been very selective with our partners and have applied the highest industry standards when selecting the best modules for this project. Cooperating with JinkoSolar has proven to be a pleasant experience and we are pleased to have achieved objectives we set at the beginning. I would like to take this opportunity to extend my appreciation to the JinkoSolar team for their effective, efficient, and professional work,” added Mr. Gopal Sultania, Managing Director, of Sunkon Energy.

About JinkoSolar

JinkoSolar is a leading solar power product manufacturer with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Montpellier, France; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada; Singapore; Tokyo, Japan; and Cape Town, South Africa.

JinkoSolar has built a vertically integrated solar product value chain with an integrated annual capacity of approximately 1.2 GW each for silicon ingots and wafers, solar PV cells, and solar PV modules as of December 31, 2012. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, France, Eastern Europe, China, India, Japan, South Africa, and other countries and regions.

About Sunkon Energy (P) Ltd.

Incorporated in April 2008, SunKon Energy plans to develop, finance, construct, own, and operate utility-scale solar photovoltaic power plants with a goal to becoming a leading owner and operator of solar power plants in India. Our aim is to help address the impending energy crisis, contribute to efforts towards mitigation of global warming and climate change and reduce India‘s dependence on traditional power sources. With grid parity as an ultimate goal, SunKon Energy will play an aggressive role in roll-out of solar energy infrastructure in India.

Safe Harbor Statement

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipates,” “believes,” “estimates,” “expects,” “future,” “intends,” “plans,” “will,” and similar statements. Such statements involve inherent risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s public filings with the Securities and Exchange Commission, including its annual report on Form 20-F for the year ended December 31, 2011 filed with the Securities and Exchange Commission on April 18, 2012, as amended on April 19, 2012. All information provided in this news release is as of October 31, 2012. Except as required by law, JinkoSolar undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792

View in PR Newswire Asia website: JinkoSolar to Supply 5MW of Solar Modules to Sunkon Energy in India

Written by asiafreshnews

May 29, 2013 at 7:17 pm

Posted in All releases

Trina Solar Announces First Quarter 2013 Results

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CHANGZHOU, China, May 29, 2013 /PRNewswire/ — Trina Solar Limited (TSL) (“Trina Solar” or the “Company”), a global leader in photovoltaic (“PV”) modules, solutions, and services, today announced its financial results for the first quarter of 2013.

First Quarter 2013 Financial and Operating Highlights

  • Solar module shipments were approximately 393 MW during the first quarter of 2013, representing a sequential decrease of 5.3% from the fourth quarter of 2012
  • Net revenues were $260.2 million, a decrease of 14.0% from the fourth quarter of 2012
  • Gross profit was $4.4 million, a decrease of 21.5% from the fourth quarter of 2012
  • Gross margin was 1.7%, compared to 1.9% in the fourth quarter of 2012
  • The Company had an accounts receivables provision reversal of $11.1 million in the first quarter of 2013
  • Operating loss was $40.1 million, compared to $70.4 million in the fourth quarter of 2012
  • Operating margin was negative 15.4%, compared to negative 23.3% in the fourth quarter of 2012
  • The Company had a foreign currency exchange loss of $19.0 million, net of changes in the fair value of derivative instruments
  • Net loss was $63.7 million, compared to a net loss of $87.2 million in the fourth quarter of 2012
  • Loss per fully diluted American Depositary Share (“ADS” and each ADS represents 50 of the Company’s ordinary shares) was $0.90, compared to $1.23 in the fourth quarter of 2012

“While the average selling price (“ASP”) of modules continued to decline in the first quarter due to the lingering supply-demand imbalance in the global PV industry, the rate of decline has slowed from previous quarters,” said Mr. Jifan Gao, chairman and CEO of Trina Solar. “In this environment, we continue to focus on improving operational efficiency and exercising financial discipline. In the first quarter, the reductions in non-silicon costs we achieved outweighed the fall in ASP, and we also collected a sizeable amount of overdue accounts receivables. These efforts enable us to maintain strong liquidity and a robust balance sheet, making us better positioned to capture future growth opportunities.

“As previously announced, we completed several restructuring and streamlining initiatives in the second half of 2012 and we saw sustained improvements in our general and administrative expenses in the first quarter of 2013. We will continue to strictly control operating costs while maintaining our product quality and service capabilities. In terms of revenues, we achieved strong sequential shipment growth in Japan and India, two of the most important emerging markets for the PV industry. In Europe we worked to retain quality customers and were also able to diversify our customer base. Trina Solar remains committed to continuing to serve our customers and business partners in Europe as the EU’s preliminary determination on antidumping and countervailing duty tariffs against Chinese solar products approaches.

“At the beginning of the year, we announced that the Company had been awarded the right to develop a 50 MW solar project in Gansu province, China. We began construction on the project during the end of the first quarter and expect to connect the project to the power grid and begin limited production by the end of the third quarter of 2013. For our downstream systems business, we remain committed to focusing on R&D and delivering innovative products and solutions to lower installation costs, while enhancing the efficiencies and ease-of-use of solar energy.”

Recent Business Highlights

During the first quarter of 2013, the Company:

  • Obtained approval from the Gansu Provincial Development and Reform Commission to develop a 50 MW grid-connected solar power plant in Wuwei, Gansu Province. The project is part of a plan to stimulate the economy in a region challenged by semi-desert conditions. The Wuwei municipality is well-suited for solar energy production due to favorable irradiance and the ability to sell and transmit electricity to other regions in addition to supplying local needs.
  • Announced that it will supply 30 MW of photovoltaic modules to Gestamp Solar, one of the world’s leading companies in the development and management of photovoltaic parks, for two projects in South Africa. Large-scale solar power systems will be installed in the towns of Prieska and De Aar in Northern Cape Province, with the capacity to generate 20 MW and 10 MW respectively. According to the terms of the agreement, deliveries will be made in the third quarter of 2013.
  • Announced 60-cell PDG5, the first in Trina Solar‘s new line of dual-rated frameless modules. The PDG5 is resistant to potential induced degradation (PID) and micro-cracking, and does not require grounding. The PDG5 provides reliable performance under stressful environmental conditions.
  • Announced that according to a new report from Solar Business Services, titled “Australian PV – Technology and Brands 2013”, Trina Solar was the most popular solar panel brand in Australia during 2012, accounting for 100 MW of installations.
  • Announced that it has been recognized by Fast Company magazine in their 2013 list of The World’s Top 10 Most Innovative Companies in China.
  • Announced a new slimline frame design across its full range of 72-cell monocrystalline and 60-cell polycrystalline modules. Frame thickness has been reduced from 40mm to 35mm, and products are immediately available.

Subsequent Events

Subsequent to the first quarter of 2013, the Company:

  • Filed its annual report on Form 20-F for the fiscal year ended December 31, 2012 with the Securities and Exchange Commission on April 2, 2013.
  • Announced that Jodie Roussell, Head of Public Affairs Europe at TrinaSolar, had been elected Vice-President of the Board of the European Photovoltaic Industry Association (EPIA) at the EPIA’s annual general meeting in Brussels in March 2013.

First Quarter 2013 Results

Net Revenues
Net revenues in the first quarter of 2013 were $260.2 million, a decrease of 14.0% sequentially and 25.6% year-over-year. Total shipments were 392.6 MW, compared to 414.5 MW in the fourth quarter of 2012 and 380.0 MW in the first quarter of 2012. The sequential decrease in shipments was caused primarily by a seasonal weakness in China, which, together with the continuous decline in ASP due to supply-demand imbalances, caused the decrease in revenues.

Gross Profit and Margin
Gross profit in the first quarter of 2013 was $4.4 million, compared to a gross profit of $5.6 million in the fourth quarter of 2012 and $20.3 million in the first quarter of 2012.

Gross margin was 1.7% in the first quarter of 2013, compared to 1.9% in the fourth quarter of 2012 and 5.8% in the first quarter of 2012. The year-on-year decrease in gross margin was due primarily to declines in the ASP of modules that exceeded decreases in costs during the past year.

Operating Expense, Loss and Margin
Operating expenses in the first quarter of 2013 were $44.5 million, a decrease of 41.5% sequentially and a decrease of 26.0% year-over-year. The Company’s operating expenses represented 17.1% of its first quarter net revenues, a decrease from 25.1% in the fourth quarter of 2012 and 17.2% in the first quarter of 2012. The sequential percentage decrease was primarily due to an accounts receivables provision reversal of $11.1 million during the first quarter of 2013 and expense control measures taken by the Company since the second half of 2012. Operating expenses in the first quarter of 2013 included $1.1 million in share-based compensation expenses, compared to $0.1 million in the fourth quarter of 2012 and $2.0 million in the first quarter of 2012.

As a result of the foregoing, operating loss in the first quarter of 2013 was $40.1 million, compared to operating losses of $70.4 million in the fourth quarter of 2012 and $39.9 million in the first quarter of 2012. Operating margin was negative 15.4% in the first quarter of 2013, compared to negative 23.3% in the fourth quarter of 2012 and negative 11.4% in the first quarter of 2012.

Net Interest Expense
Net interest expense in the first quarter of 2013 was $13.2 million, compared to $11.4 million in the fourth quarter of 2012 and $8.8 million in the first quarter of 2012. The sequential increase in net interest expense was primarily due to an increase in average bank borrowings in the first quarter of 2013.

Foreign Currency Exchange Loss and Gain
The Company had a foreign currency exchange loss of $19.0 million in the first quarter of 2013, which included changes in fair value of derivative instruments, compared to a net gain of $4.7 million in the fourth quarter of 2012 and a net gain of $9.0 million in the first quarter of 2012. This net loss was primarily due to the depreciation of the Euro and Japanese Yen against the U.S. dollar during the first quarter of 2013, offset by gains from foreign currency hedging contracts involving the Euro, Renminbi, and U.S. dollar used by the Company to mitigate its foreign currency risk exposure.

Income Tax Benefit and Expense
Income tax benefit was $6.1 million in the first quarter of 2013, compared to income tax expense of $11.3 million in the fourth quarter of 2012 and income tax benefit of $8.8 million in the first quarter of 2012. The income tax benefit in the first quarter of 2013 primarily resulted from a deferred tax benefit recognized in connection with the net operating losses incurred in the quarter, net of provision for valuation allowance.

Net Loss and Loss per ADS
As a result of the foregoing, net loss was $63.7 million in the first quarter of 2013, compared to net loss of $87.2 million in the fourth quarter of 2012 and $29.8 million in the first quarter of 2012.

Net margin was negative 24.5% in the first quarter of 2013, compared to negative 28.8% in the fourth quarter of 2012 and negative 8.5% in the first quarter of 2012.

Loss per fully diluted ADS was $0.90 in the first quarter of 2013. The impact of accounts receivables provision reversal was approximately $0.16, while the effect of the foreign currency exchange net loss was approximately $0.27, per ADS.

Financial Condition

As of March 31, 2013, the Company had $822.3 million in cash and cash equivalents and restricted cash, and a working capital balance of $238.5 million. Total bank borrowings were $1,226.4 million, of which $395.5 million were long-term borrowings. The Company decreased its short-term borrowings by $45.0 million to approximately $830.8 million as of March 31, 2013.

At the end of the first quarter of 2013, $83.6 million of the Company’s convertible senior notes due July 2013 remained outstanding, which remained unchanged from the fourth quarter of 2012.

Shareholders’ equity was $823.5 million as of March 31, 2013, a decrease from $881.8 million at the end of the fourth quarter of 2012.

Second Quarter and Fiscal Year 2013 Guidance

During the second quarter of 2013, the Company expects to ship between 500 MW to 530 MW of PV modules.

The Company believes its overall gross margin for the second quarter, taking into account wafer and cell quantities outsourced from third party suppliers to meet demand in excess of its internal capacity and other needs, will be in the middle single-digits in percentage terms. Such guidance is based on the exchange rate between the Euro and U.S. dollar as of May 29, 2013.

For the full year 2013, the Company maintains its previous guidance of 2.0 GW to 2.1 GW for total PV module shipments.

Operations and Business Outlook

Manufacturing Costs
In the first quarter of 2013, the Company continued its efforts to reduce manufacturing costs, achieving a reduction of high single digit in percentage terms from a quarter ago. The sequential decrease in non-silicon manufacturing costs were primarily due to improved supply chain cost control, increased utilization of the Company’s in-house manufacturing capacities, as well as increases in the Company’s module efficiencies and improvements in its manufacturing processes.

As a result of increased average poly-silicon spot prices in the first quarter of 2013 compared to the fourth quarter of 2012, the Company experienced a sequential increase in silicon costs in its module manufacturing business. Through its diversified range of short, medium and long-term supply agreements, the Company will continue to maintain competitive silicon costs relative to current market prices.

2013 Manufacturing Capacity
As of March 31, 2013, the Company’s annualized in-house ingot and wafer production capacity remained approximately 1.2 GW and its PV cell and module production capacity remained approximately 2.4 GW.

Project Development
The Company has commenced the construction of its 50 MW project in Gansu Province, China. Completion of the project is expected by the end of the third quarter of 2013.

The Company continues to source project opportunities inside and outside of China. The commencement of a project is subject to a number of factors, some of which are beyond the Company’s control, such as the availability of network transmission and interconnection facilities, as well as the attainment of certain project rights, including land use rights and the right to construct manufacturing facilities in the relevant locations.

Conference Call

The Company will host a conference call at 8:00 a.m. ET on May 29, 2013, to discuss the results for the quarter ended March 31, 2013. Joining Jifan Gao, Chairman and CEO of Trina Solar, will be Terry Wang, Chief Financial Officer, Zhiguo Zhu, Senior Vice President and President of Trina Solar’s Module Business Unit, and Kevin Zhang, Head of Investor Relations. Supplemental information will be made available on the Investors Section of Trina Solar‘s website at To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1 (800) 884-2382. International callers should dial +1 (660) 422-4933. The conference ID for the call is 7055-7416.

If you are unable to participate in the call at this time, a replay will be available on May 29 at 10:00 a.m. ET, through June 12, at 11:59 p.m. ET. To access the replay, dial 1 (855) 859-2056, international callers should dial +1 (404) 537-3406, and enter the conference ID 7055-7416.

This conference call will be broadcast live over the Internet and can be accessed by all interested parties on Trina Solar‘s website at To listen to the live webcast, please go to Trina Solar‘s website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on Trina Solar‘s website for 90 days.

About Trina Solar Limited

Trina Solar Limited (NYSE:TSL) is a global leader in photovoltaic modules, solutions and services. Founded in 1997 as a PV system integrator, Trina Solar today drives smart energy together with installers, distributors, utilities and developers worldwide. The company’s industry-shaping position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s ability to raise additional capital to finance its activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company’s ability to operate as a public company; the period of time for which the Company’s current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; the volatility of the Company’s operating results and financial condition; the Company’s ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

Trina Solar Limited

Unaudited Condensed Consolidated Statements of Operations

(US dollars in thousands, except ADS and share data)

For the Three Months Ended

Mar. 31,


Dec. 31,


Mar. 31,


Net revenues







Cost of revenues




Gross profit




Operating expenses

Selling expenses




General and administrative expenses




Research and development expenses




Total operating expenses




Operating loss




Foreign exchange (loss) gain




Interest expenses




Interest income




Gain on change in fair value of derivative




Other income, net




Loss before income taxes




Income tax benefit (expense)




Net loss




Income attributable to the noncontrolling interest

Net loss attributable to Trina Solar Limited







Loss per ADS*















Weighted average ADS outstanding*









* “ADS” refers to any of our American depository shares, each representing 50 ordinary shares.

Unaudited Condensed Consolidated Statements of Comprehensive Income

(US dollars in thousands)

Net loss







Other comprehensive income (loss):

Foreign currency translation adjustments




Comprehensive loss




Income attributable to non-controlling interest

Comprehensive loss attributable to Trina Solar Limited







Trina Solar Limited

Unaudited Condensed Consolidated Balance Sheets

(US dollars in thousands)

Mar. 31


Dec. 31


Mar. 31



Current assets:

Cash and cash equivalents







Restricted cash








Project assets, current portion




Accounts receivable, net




Current portion of advances to suppliers, net




Prepaid expenses and other current assets, net




Total current assets




Property, plant and equipment, net




Project assets, net of current portion




Land use rights, net




Advances to suppliers, net of current portion




Investment in equity affiliates




Deferred income tax assets, net




Other noncurrent assets












Current liabilities:

Short-term borrowings, including current

portion of long-term borrowings







Accounts payable




Convertible senior notes



Accrued expenses and other current liabilities




Total current liabilities




Long-term bank borrowings, excluding current portion




Convertible senior notes


Accrued warranty costs




Other noncurrent liabilities




Total liabilities




Ordinary shares




Additional paid-in capital




Retained earnings




Accumulated other comprehensive income




Total Trina Solar Limited shareholders’ equity




Non-controlling interest




Total equity











For further information, please contact:

Trina Solar Limited

Terry Wang, CFO

Phone: + (86) 519-8548-2009 (Changzhou)

Brunswick Group

Ilse Schache

Phone: + (86) 10-6566-2256


Kevin Zhang, Investor Relations

Phone: + (86) 519-8517-6093 (Changzhou)


View in PR Newswire Asia website: Trina Solar Announces First Quarter 2013 Results

Written by asiafreshnews

May 29, 2013 at 7:17 pm

Posted in All releases

Simcere Pharmaceutical Group Announces Resignation of Chief Scientific Officer

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NANJING, China, May 29, 2013 /PRNewswire/ — Simcere Pharmaceutical Group (“Simcere” or the “Company”) (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, today announced the resignation of Dr. Peng Wang, Chief Scientific Officer of the Company, effective from May 29, 2013. Dr. Wang resigned for personal reasons. His resignation has been approved by the Company.

Mr. Hongquan Liu, the Chief Executive Officer of Simcere, said, “We thank Dr. Wang for his contribution to our research and development efforts and we wish him all the best in the future.”

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group (“Simcere” or the “Company”) (NYSE: SCR) is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, cardiovascular disease, infectious diseases, and pain. For more information about Simcere Pharmaceutical Group, please visit

Investor and Media Contacts:


In Nanjing:

Jie Liu D’Elia

Vice President

Simcere Pharmaceutical Group

Tel: 86-25-8556-6666*8857

In the United States:

Cindy Zheng

Brunswick Group LLC

Tel: 1-212-333-3810

In Beijing:

Yue Yu

Brunswick Group

Tel: 86-10-5960-8600

View in PR Newswire Asia website: Simcere Pharmaceutical Group Announces Resignation of Chief Scientific Officer

Written by asiafreshnews

May 29, 2013 at 6:22 pm

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TWi Pharmaceuticals’ Manufacturing Site for the Generic Version of Lidoderm(R) (Lidocane 5% patch) Passes US FDA cGMP Audit and Pre-Approval Inspection

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TAIPEI, May 29, 2013 /PRNewswire/ — TWi Pharmaceuticals, Inc., today announced that Teh Seng Pharmaceutical Mfg. Co. (Teh Seng), the manufacturing partner for its generic version of Lidoderm® (5% lidocaine patch) located in Taiwan, has completed the cGMP audit and pre-approval inspection (PAI) by US Food and Drug Administration (FDA) and been granted “acceptable” status under the FDA’s regulatory guidelines. “We are pleased to know Teh Seng has received the ‘acceptable’ status upon the completion of cGMP audit and PAI by US FDA,” said Calvin C. Chen, President of TWi Pharmaceuticals. “TWi has worked closely with our manufacturing partner on meeting FDA’s regulatory requirement for our lidocaine patch product. Getting the ‘acceptable’ status not only shows TWi and its manufacturing partner’s continuing commitment to the high standard production quality, but also brings TWi one step closer to getting the ANDA approval and launching this important product in the US.”

Lidocaine patch is currently marketed under trade name Lidoderm® by Endo Pharmaceuticals Inc. in the US and has been approved for relieving post-herpetic neuralgia. According to IMS Health data, in 2012, the total sales figure of Lideoderm® in the US is over US$ 1.2 billion.

About TWi Pharmaceuticals, Inc.

TWi Pharmaceuticals, Inc. is a leading specialty pharmaceutical company based in Taipei, Taiwan, focusing on the development of high barrier generic prescription products ranging from oral controlled release dosage form to novel drug delivery systems including the utilization of nanoparticles, transdermal, and polymeric oral delivery systems. Leveraging its internal research and development capabilities, together with operational flexibility, process development, manufacturing and regulatory expertise, TWi Pharmaceuticals concentrates on products and technologies that present significant barriers to entry or offer Paragraph IV first-to-file or first-to-market opportunities in the United States. For more information of TWi Pharmaceuticals, please visit

About Teh Seng Pharmaceutical Mfg. Co., Ltd.

Teh Seng Pharmaceutical is among the global leaders of topical patch manufacturing. Located in Tainan, Taiwan, the company has developed and manufactured over sixty patch products for various medical and cosmetic applications. The products are distributed in several countries across Asia, Europe and in the United States.  For more information of Teh Seng Pharmaceutical, please visit


Michael L. Huang
Head of Investor Relations
Tel: +886-2-2657-3350

View in PR Newswire Asia website: TWi Pharmaceuticals’ Manufacturing Site for the Generic Version of Lidoderm(R) (Lidocane 5% patch) Passes US FDA cGMP Audit and Pre-Approval Inspection

Written by asiafreshnews

May 29, 2013 at 5:32 pm

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Prosperity REIT Named Best Small Cap by FinanceAsia

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HONG KONG, May 29, 2013 /PRNewswire/ — ARA Asset Management (Prosperity) Limited (the “Manager”), as manager of Prosperity Real Estate Investment Trust (“Prosperity REIT”) [SEHK: 808], is pleased to announce that Prosperity REIT has been awarded the “Best Small Cap”, Hong Kong in Asia’s Best Managed Companies annual poll conducted by FinanceAsia. This accolade is an acknowledgement from the investment community for Prosperity REIT’s achievements over the years.

The poll is conducted annually by FinanceAsia, an authoritative financial magazine, which surveys the opinions of investors and analysts across the region for Asia’s top companies. Prosperity REIT has proved to impress FinanceAsia with its strong unit price performance, commitment to providing stable and sustainable return to unitholders, operational efficiency and good corporate governance as one of the best-managed companies in Hong Kong.

Ms. Mavis Wong, Executive Director and CEO of the Manager, said, “We are honored to have received this prestigious award from FinanceAsia. We would like to express our gratitude to all investors and analysts for their continued support and confidence in Prosperity REIT. Looking forward, we will continue to enhance our property portfolio as well as to uplift the standard of our business operations and corporate governance with an aim to provide stable and sustainable return to our unitholders.”

About Prosperity REIT

Prosperity REIT [SEHK: 808] is a Hong Kong collective investment scheme authorized under section 104 of the Securities and Futures Ordinance (Chapter 571 of Laws of Hong Kong). Prosperity REIT owns a diverse portfolio of seven high-quality properties in the decentralized business districts of Hong Kong, comprising all, or a portion of, two Grade A office buildings, two commercial buildings, two industrial/office buildings and one industrial building, with a total gross rentable area of about 1.22 million sq. ft.

About ARA Asset Management (Prosperity) Limited

Prosperity REIT is managed by ARA Asset Management (Prosperity) Limited, a wholly-owned subsidiary of ARA Asset Management Limited, which is listed on the Main Board of the Singapore Exchange Securities Trading Limited.


The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Prosperity REIT in Hong Kong or any other jurisdiction.

View in PR Newswire Asia website: Prosperity REIT Named Best Small Cap by FinanceAsia

Written by asiafreshnews

May 29, 2013 at 5:02 pm

Posted in All releases

Xilinx and TSMC Team to Enable Fastest Time-to-Market and Highest Performance FPGAs on TSMC’s 16-nanometer FinFET

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Xilinx FinFast program to deliver test chips in 2013 and first product in 2014

SAN JOSE, Calif. and HSINCHU, May 29, 2013 /PRNewswire/ — Xilinx Inc. (NASDAQ: XLNX) and TSMC (TWSE: 2330, NYSE: TSM) announced that they are teaming together to create the fastest time-to-market and highest performance FPGAs to be built on TSMC’s 16-nanometer FinFET (16FinFET) process, a program Xilinx calls ‘FinFast.’ The two companies are providing dedicated resources as part of a ‘one-team’ approach, and will work together to co-optimize the FinFET process with Xilinx’s UltraScale™ architecture.  The program will deliver 16FinFET test chips later in 2013 and its first product in 2014.

The companies are also engaged in leveraging TSMC’s CoWoS 3D IC manufacturing flow for the highest levels of 3D IC systems integration and system-level performance. Products from this collaboration will be announced at a later date.

“I am extremely confident that our ‘FinFast’ collaboration with TSMC on 16nm will bring the same leadership results that we enjoyed at previous advanced technologies,” said Moshe Gavrielov, President and CEO of Xilinx. “We are committed to TSMC as the clear foundry leader in every dimension, from process technology to design enablement, service, support, quality, and delivery.”

“We are committed to working with Xilinx to bring the industry’s highest performance and highest integration programmable devices quickly to market,” said Morris Chang, TSMC Chairman and  CEO.  “Together we will deliver world-class products on TSMC’s 20SoC technology in 2013 and on 16FinFET technology in 2014.”

TSMC recently announced that it is accelerating the production schedule of its 16FinFET process to 2013. The Xilinx/TSMC collaboration will take full advantage of this accelerated schedule and the aggressive performance and power savings of TSMC’s 16FinFET technology.

Xilinx has worked with TSMC to infuse high-end FPGA requirements into the FinFET development process, just as it did in the development of 28HPL and 20SoC processes. To gain optimal results, further co-optimizations will be done across TSMC’s process technology and Xilinx’s UltraScale architecture and next-generation tools. UltraScale is Xilinx’s new ASIC-class architecture, developed to scale from 20-nanometer planar, through 16-nanometer and beyond FinFET technologies, and from monolithic through 3D ICs.

About Xilinx

Xilinx is the world’s leading provider of All Programmable FPGAs, SoCs and 3D ICs. These industry-leading devices are coupled with a next-generation design environment and IP to serve a broad range of customer needs, from programmable logic to programmable systems integration. For more information, visit

About TSMC

TSMC is the world’s largest dedicated semiconductor foundry, providing the industry’s leading process technology and the foundry segment’s largest portfolio of process-proven libraries, IPs, design tools and reference flows. The Company’s owned capacity in 2013 is expected to be about 16.5 million (8-inch equivalent) wafers, including capacity from three advanced 12-inch GIGAFAB™ facilities, four eight-inch fabs, one six-inch fab, as well as TSMC’s wholly owned subsidiaries, WaferTech and TSMC China.. TSMC is the first foundry to provide 28nm production capabilities. TSMC’s corporate headquarters are in Hsinchu, Taiwan. For more information about TSMC please visit

Xilinx, the Xilinx logo, Artix, ISE, Kintex, Spartan, Virtex, Vivado, Zynq, and other designated brands included herein are trademarks of Xilinx in the United States and other countries. All other trademarks are the property of their respective owners.

View in PR Newswire Asia website: Xilinx and TSMC Team to Enable Fastest Time-to-Market and Highest Performance FPGAs on TSMC’s 16-nanometer FinFET

Written by asiafreshnews

May 29, 2013 at 5:02 pm

Posted in All releases

China’s largest Auto Accessories Trade show rides China’s Auto Boom, anticipates over 100,000 attendees from around the world

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SHANGHAI, May 29, 2013 /PRNewswire/ — Years of auto sales boom in China has made the country the No.1 auto market in the world, and millions of car owners are beginning to explore their mobile living spaces by re-designing it in every way possible from customized vehicles, supercharged exteriors, to personalized interiors and gadgets. This new trend has cumulated into a US$80 billion industry with a 26.9 percent growth rate in 2012.


It is no surprise then that China is hosting one of the world’s largest auto accessories trade shows this year, bringing together makers and suppliers from all over the country to showcase a dizzying range of accessories for auto interiors, servicing, and retrofitting. The 2013 China International Auto Aftermarket Fair (CIAAF) in Zhengzhou will pool together over 100,000 key buyers, distributors, 4S stores, one-stop service shops, and retailers for this massive five day event.

Organized by Reed Exhibitions, world’s leading trade show organizer, the 10th edition of CIAAF will showcase the latest in car cushions, automotive decorations, retrofitting, electronic gadgets, maintenance solutions, and solar films from June 26 to June 30.

This year’s CIAAF hosts over 3,000 exhibitors in a 220,000 square meter space. Visitors will be able to view brand new auto products and solutions in an interactive setting at exhibitors’ individual booths through hundreds of demonstrations and product testing.

“The CIAAF has long been China’s largest and most influential auto accessories show, which is why we are very excited that this year’s event is shaping up to be one of the best in the show’s history,” said Sun Gang, Senior Vice President of Reed Exhibitions Greater China. “We are anticipating attendees to reach 100,000 this June, which is going to test the operations capacity of our international team, but we’re ready.”

As the largest auto accessories show in the country, the show features top global brands like 3M, Letbon, Konica Minolta, Solazone, Cold Steel, RoadRover, V-Kool, LLumar, HUPER POTIK, SONAX, GlossMax, Dadeupright, Carlas, Anjuny, Top-Tech Tinting, Quantum, DJCORP, Carmate, Meiying, Benrui, NFA, TWG, and thousands more. The sheer selection will make this event too hard to miss for traders and importers looking to buy from China.

For more information on CIAAF 2013, visit

About Reed Hongda Exhibitions

Henan Reed Hongda Exhibitions Co., Ltd. (Reed Hongda) is a joint venture between Reed Exhibitions, the leading global event organizer, and Zhengzhou Xinda Industrial Company. Reed Hongda is the leading event organizer for the Chinese auto aftermarket sector. As part of Reed Exhibitions, Reed Hongda will leverage the global marketing resources of Reed Exhibitions to produce industry-defining events that accelerate the development of the Chinese auto aftermarket sector.

Against a backdrop of continued industry developments, as well as heightened expectations, Reed Hongda will Launch SIAAF 2013 – China’s true international platform for the auto aftermarket sector, in Shanghai from October 10 to October 12. This breakthrough event will target high-end exhibitors who believe the value of their brands and those who are empowered with competitive R&D capabilities. These exhibitors will be looking to bolster their presence in the end user market and raise the profile of their new business models with the key local distributors. SIAAF 2013, presenting a perfect mix between B2B and B2C, will mark a new chapter in the development of China’s auto aftermarket by showcasing new business models, auto culture, auto services, e-commerce, and auto tuning solutions.

Media Contact

Tracy Zeng
Reed Hongda Exhibitions (Shanghai)
Tel: +86 21 2231 7066
Fax: +86 21 2231 7181

View in PR Newswire Asia website: China’s largest Auto Accessories Trade show rides China’s Auto Boom, anticipates over 100,000 attendees from around the world

Written by asiafreshnews

May 29, 2013 at 4:23 pm

Posted in All releases

Fi Europe: The Food Ingredients Event of 2013!

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FRANKFURT, Germany, May 29, 2013 /PRNewswire/ —

Source innovative products, grow your market share and nurture your business network at the world’s largest food ingredients show

With the global food ingredients market forecasted to grow in 2013 by 2.7%, this industry is set to flourish and meet the requirements of the ever changing consumer trends. Given this development, as well as the population growth and the increasing affluence of the developing world, the food ingredients industry has become an intensely dynamic landscape. With the relentlessness of the Euro crisis coming to an end, finding the best business partners, in this industry, has become more important than ever.

To help food producers find the most innovative ingredient providers, UBM Live is organising the 2013 edition of Fi Europe & Ni, taking place on the 19-21 November 2013 in Frankfurt, Germany. Being the industry staple for over 25 years, Fi Europe is the leading platform to source innovative ingredients, grow market share and nurture business networks. The online visitor registration is now open for this unmissable event.

Jana Farkasova, Business Development Manager, Nestlé, notes ‘Fi Europe is a very useful tool to exchange information, make contacts, enhance relationships and gain information about the latest trends and innovations’. Fi Europe is proven to be the most successful platform for companies to showcase themselves in this vibrant and ever growing market. Over 26,000 attendees will be attending the show, over the 3 days, to unearth new business partners, suppliers and the latest innovations in the marketplace. Attendees at Fi Europe are looking for solutions to further develop products in their pipeline, reformulate their existing products and pursue costs controlling solutions.

The exhibition organisers are predicting a record year with over 1,300 exhibitors from 94 countries. Leading manufacturers will present their latest innovations and technologies. Among these key exhibitors are Dohler, Roquette, Cargill, Brenntag, Tate & Lyle, ADM, FrieslandCampina, Barry Callebaut, DSM, Naturex, BASF, CNI, Fortitech, Rousselot, Beneo, and many more. The event is growing with each edition; not only does it continue to bring new exhibitors to the show, but is also home to a variety of features and educational workshops and is co-located with Food ingredients Europe Conferences.

This year will see the return of the New Product Zone which displays the latest products and innovations and gives an inside scope of what is predicted in the future. The Innovation Tours are also here, following the success of previous years. They will be following various topic trends and focus on the most innovative exhibitors around the show. The Industry Insight Theatre provides workshops and educational seminars surrounding key industry topics, conducted by various associations, research companies and scholars.

The Seminar Sessions will allow exhibitors to present the latest innovations, cutting edge technology and product opportunities. The renowned Food ingredients Excellence Awards are presented each edition, recognising the leading ingredient manufacturers and their

latest innovations. The event is co-located with the Food ingredients Europe Conference, which covers issues currently faced by the food ingredients industry and will provide crucial insights into leading scientific innovations, winning marketing strategies and explore the hottest ingredients trends driving new product development and consumer spending in the F&B industry.

For more information about Fi Europe & Ni 2013, please visit:

About Fi ingredients Global – the trusted route tomarket since 1986

Food ingredients was launched in Utrecht, The Netherlands, in 1986. Its portfolio of live events, publications, extensive data, digital solutions and high-level conferences, are now established throughout the world and provide regional and global platforms for all stakeholders, in the food ingredients industry. Over 500,000 people have attended our shows over the years with billions of Euros worth of business created, as a result. With over 25 years of excellence, our events, digital solutions and supporting products, deliver a proven route to market, with a truly global audience. For more information about the Food ingredients Portfolio please visit:

About the Organiser

UBM Live connects people and creates opportunities for companies across five continents to develop new business, meet customers, launch new products, promote their brands and expand their markets. Through premiere brands such as Fi, NuW, MD&M, CPhI, IFSEC, TFM&A, Cruise Shipping Miami, the Concrete Show and many others, UBM Live exhibitions, conferences, awards programs, publications, websites and training and certification programs are an integral part of the marketing plans of companies across more than 20 industry sectors. UBM Live is a division of United Business Media (LSE: UBM.L,, a leading global B2B media provider with 6,500 staff in 40 countries. Incorporated in 1918 as United Newspapers Limited, we live by the motto: “We explore, we exceed, you excel.”

For more information about UBM Live, please visit:

View in PR Newswire Asia website: Fi Europe: The Food Ingredients Event of 2013!

Written by asiafreshnews

May 29, 2013 at 3:17 pm

Posted in All releases

Frost & Sullivan Recognizes Socomec’s Use of Cutting-edge Technology to Deliver Products in Line With Current Market Trends

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  • The company has gained its competitive edge by delivering unparalleled quality, innovation and customization

LONDON, May 29, 2013 /PRNewswire/ — Based on its recent research on the uninterrupted power supply (UPS) market, Frost & Sullivan presents Socomec with the 2013 European Frost & Sullivan Award for Product Differentiation Excellence. Already established in the market as a company that delivers high-quality products and specializes in product customization, Socomec’s level of product differentiation is one of the key reasons for its continuing market penetration and customer acquisition.

“Socomec has been quite successful in identifying key market segments for its products, and its product differentiation excellence mainly stems from the fact that it designs and develops products that match the market needs,” said Frost & Sullivan Industry Analyst Gautham Gnanajothi. “For instance, the company is currently focusing on two main market trends; the need to reduce the cost of energy along with the emergence of alternative energy sources, and the need for customers to efficiently estimate their power requirements.”

Socomec firmly believes in designing products with value-added features and functionalities, and it does not limit these features to certain power ranges. The company’s entire range offers features that enhance performance, reliability and total protection. Socomec strongly advocates on-line double conversion (V.F.I. or voltage frequency independent) mode for operation, which is the only working mode that guarantees total protection to the load. Its UPS products in all are designed to assure high efficiency, not only at full load, but also at partial load and every possible working condition.

The high focus on quality starts right from the design phase with efficiency and fault tolerance as priority. Socomec is one of the first companies in the industry to employ an innovative “3-Level” technology in its UPS products, incorporating sophisticated power converters with fully digital controls. It is with this technology that Socomec offers one of the industry leading efficiency of 96% in the on-line double conversion mode that means total protection with a reduced energy bill. The company also enforces some of the most rigorous tests in its plants to ensure highest quality for the units it produces.

“Providing customized solutions to end-users is one of the key strategies of Socomec and the company has dedicated departments to handle customization,” noted Gnanajothi. “As a part of this strategy, it continues to focus and develop both transformer-based and transformer-less UPS systems, whereas its competitors focus mainly on transformer-less designs.”

In addition to its engineering and project management department that specializes in identifying client specific needs and comes up with solutions that match the exact client requirements, Socomec has a dedicated service team responsible for coming up with specific service solutions for the customized product to match the special requirements. It also has an extremely strong marketing team which drives the product development and new product innovation efforts.

Socomec has evolved as a company that promises product innovation to address industry challenges such as efficiency, availability and floor space. It boasts of high customer retention and customer satisfaction, which it has acquired over the years by delivering top of the class products. It maintains excellent proximity with its customers in order to understand their needs better and come up with products that demonstrate unique features and functionalities. As a result, Socomec is one of the top UPS companies in Europe.

In recognition of its capability to deliver extraordinary levels of quality, innovation and customization of the highest magnitude, Socomec is the worthy recipient of the 2013 Frost & Sullivan Differentiation Excellence Award. Each year, Frost & Sullivan presents this award to the company that has developed a product with unique features/functionality as well as high quality for customers with complex needs. The award lauds the degree of the product’s customization and the fit for evolving market trends, which ultimately results in a strong brand perception of the product as being unique.

Denis Sallee, Marketing Director of Socomec’s Critical Power Business Application, said, “We are proud to receive this prestigious award from Frost & Sullivan. This is the result of our commitment to serve our customers and to respond to their needs. Whatever their application is, DataCentre, medical, or harsh industrial environment, we focus to deliver them the unique solution which answers their expectations.”

Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.

About Socomec

The Socomec Group in brief:

  • An independent, family-owned company founded in 1922.
  • A manufacturer providing expert solutions for LV electrical networks: power control and safety, critical power, energy efficiency and solar power.
  • 3,200 employees spread over 25 subsidiaries around the world: Socomec has total control of the design, manufacture and marketing of its products.
  • Nine production sites (4 in France, 1 in Italy, 1 in Tunisia, 1 in India, 2 in China) integrate the company’s core technological know-how and ensure the quality of its products whilst respecting customer requirements in terms of delivery times.
  • In 2012, the Socomec Group posted a turnover of 443M EUR.

To find out more:
Press contact:
Denis SALLEE / +33 (0)1 45 14 63 30 /

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Emily Bailey
Best Practices
Frost & Sullivan
P: +44 (0)20 7915 7869

View in PR Newswire Asia website: Frost & Sullivan Recognizes Socomec’s Use of Cutting-edge Technology to Deliver Products in Line With Current Market Trends

Written by asiafreshnews

May 29, 2013 at 3:17 pm

Posted in All releases