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China_title%

Archive for 'China'

Some of the experts were predicting that the market would be going through a correction in the first month of the new year and now you have the opportunity to add to your portfolio at some bargain prices.

After the worst start in history for U.S. stocks, everyone will be searching for meaning. One strategy has worked for almost seven years, but what about now?

Is it time to “buy the dip?”

Prior Theme Recap

In my last WTWA, I predicted that the start of a new year would focus attention on one of the several different “January effects.” This proved to be a secondary consideration. Instead, news from China rippled around the world, pressuring U.S. trading before Monday’s opening. The China story continued through Thursday. Even a strong employment report on Friday could not reverse the selling pressure. There are some still debating the seasonal effects, but it was a minor theme last week. You can see the sad story for stocks from Doug Short’s weekly chart. (With the ever-increasing effects from foreign markets, you should also add Doug’s World Markets Weekend Update to your reading list).

Jeff Miller

 

 

 

 

Perfect World Co., Ltd. (NASDAQ: PWRD) (“Perfect World” or the “Company “) , a leading online game developer and operator based in China, today announced that, as of August 7, 2011, the Company had repurchased an aggregate of 1,348,849 American Depositary Shares (“ADSs”) on the open market under the ADS repurchase program to repurchase up to USD100 million of the Company’s ADS from March 2011 to March 2012, as authorized by the Board. Perfect World expects to continue to implement its share repurchase program in a manner consistent with market condition and the interest of the shareholders, subject to the restrictions relating to volume, price and timing under applicable law.

About Perfect World Co., Ltd. (http://www.pwrd.com)

Perfect World Co., Ltd. (NASDAQ: PWRD) is a leading online game developer and operator based in China.  Perfect World primarily develops online games based on proprietary game engines and game development platforms.  Perfect World’s strong technology and creative game design capabilities, combined with extensive knowledge and experiences in the online game market, enable it to frequently and promptly introduce popular games designed to cater changing customer preferences and market trends.  Perfect World’s current portfolio of self-developed online games includes massively multiplayer online role playing games (“MMORPGs”): “Perfect World,” “Legend of Martial Arts,” “Perfect World II,” “Zhu Xian,” “Chi Bi,” “Pocketpet Journey West,” “Battle of the Immortals,” “Fantasy Zhu Xian,” “Forsaken World,” “Dragon Excalibur,” and “Empire of the Immortals;” and an online casual game: “Hot Dance Party.”  While a substantial portion of the revenues are generated in China, Perfect World’s games have been licensed to leading game operators in a number of countries and regions in Asia, Latin America and the Russian Federation and other Russian speaking territories.  Perfect World also generates revenues from game operations in North America, Europe and Japan.  Perfect World plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.

Safe Harbor Statements

This press release contains forward-looking statements.  These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements.  Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.  Potential risks and uncertainties include, but are not limited to, Perfect World’s limited operating history, its ability to develop and operate new games that are commercially successful, the growth of the online game market and the continuing market acceptance of its games and in-game items in China and elsewhere, its ability to protect intellectual property rights, its ability to respond to competitive pressure, its ability to maintain an effective system of internal control over financial reporting, changes of the regulatory environment in China, and economic slowdown in China and/or elsewhere.  Further information regarding these and other risks is included in Perfect World’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.  Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For further information, please contact
Perfect World Co., Ltd.
Vivien Wang
Vice President, Investor Relations & Corporate Communications
Tel: +86-10-5780-5700
Fax: +86-10-5780-5713
Email: ir@pwrd.com
http://www.pwrd.com
Christensen Investor Relations
Kathy Li
Tel: +1-480-614-3036
Fax: +1-480-614-3033
Email: kli@christensenir.com
Teal Willingham
Tel: +86-10-5826-4727
Fax: +86-10-5826-4838
Email: twillingham@christensenir.com

http://www.pwrd.com

China Sunergy Co., Ltd. (Nasdaq: CSUN) (“China Sunergy” or “The Company”), a specialized solar cell and module manufacturer, today announced the opening of its U.S. headquarters China Sunergy (US) Clean Tech Inc. in San Francisco. San Francisco Mayor Edwin M. Lee, China Sunergy Chairman Mr. Tingxiu Lu, and China Sunergy CEO Stephen Cai officially opened the new headquarters office at an opening ceremony and reception on July 14, 2011.

“The U.S. will eventually become one of the largest solar markets in the world,” declared Stephen Cai, the CEO of China Sunergy, in his speech at the event.  “We will invest in the U.S., hire people in the U.S., and serve customers in the U.S., under the CSUN brand name.  Our strategy is to localize as much as possible.”

China Sunergy’s U.S. operations will be managed by a newly appointed U.S. CEO, Mr. Willis He, who will be based in San Francisco.  Mr. He, who has over 13 years studying and working experience in the U.S., joins from MEMC Electronic Materials, a publicly listed global leader in the manufacture and sale of wafers to the solar and semi-conductor industries. As a solar sales director, Mr. He worked closely with many solar cell and module companies to develop and expand MEMC’s China business.  Mr. He holds a M.B.A. from Olin School of Business, Washington University in St. Louis.

“Willis will lead our local recruitment efforts, pursue bankability status with U.S. banks, investigate U.S. manufacturing and project development opportunities, and be the public face of our company in America.  This is the right time and the right place for China Sunergy to enter this growing market,” added Stephen Cai.

Although later to develop than Europe, solar markets in the U.S. are entering a period of rapid growth due to strong consumer demand for green energy and more financial incentives from federal and state governments and utility companies. 2010 saw installed photovoltaic capacity in the U.S. increase by over 100%.  Of that total, 28% was completed in the state of California, according to a report released in June by the Interstate Renewable Energy Council.

“We are thrilled that China Sunergy has chosen San Francisco for its North American headquarters location,” said Mayor Lee. “As leading Chinese businesses, such as China Sunergy, grow in the international cleantech market, San Francisco enthusiastically welcomes them.”

Chairman Lu remarked, “Despite the recent ups and downs in the worldwide solar industry, we are still confident in its future development. The establishment of our U.S. branch is a demonstration of our commitment to and confidence in the U.S. market. With the hard work and efforts of our employees, China Sunergy will deliver an outstanding performance in the U.S. market.”

The contact details for the new office are:

China Sunergy (US) Clean Tech Inc.
575 Market Street, 37th floor
San Francisco, CA 94105

About China Sunergy Co., Ltd.

China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com.

Investor and Media Contacts:
China Sunergy Co., Ltd.
Elaine Li

Phone: + 86 25 5276 6696

Email: Elaine.li@chinasunergy.com

Brunswick Group
Hong Kong

Ginny Wilmerding

Phone: + 852 3512 5000

Email: csun@brunswickgroup.com

Hong Kong

Xiaoxiao Nina Zhan

Phone: + 852 3512 5000

Email: csun@brunswickgroup.com

http://www.chinasunergy.com

Dana Holding Corporation (NYSE: DAN) announced today that it has completed two transactions that will enhance its position for further growth in the emerging markets of China and India.

Dana has increased its stake in Dongfeng Dana Axle Co., Ltd. (DDAC), a China-based commercial-vehicle axle joint venture, to 50 percent.  Dana has also acquired the commercial-vehicle axle business of Axles India Ltd. (AIL).

Dana has acquired from Dongfeng Motor Co., Ltd (DFL) an additional 46 percent equity in DDAC to achieve equal ownership.  Dana paid $124 million to DFL; a sales incentive agreement could effectively increase Dana’s consideration by as much as $20 million if specified profitability targets are achieved.  DDAC achieved 2010 sales of nearly $1 billion, supported by the strong performance of both the truck and bus markets and in particular of its main customer, Dongfeng Motor Co., Ltd.

“We are encouraged by the continued strong performance of the truck and bus markets in China, and of our partner Dongfeng, and look forward to the strengthened relationship,” said Dana President and CEO Roger J. Wood.  “This is another important step in our ongoing drive to seek out opportunity in the Chinese market and expand globally.”

Headquartered in Xiangyang, Hubei Province, DDAC is the primary supplier of truck axles to Dongfeng Motor Co., Ltd.  DDAC, originally formed in 2005, currently offers a complete range of truck axles in the Chinese market, including drive, steer, tandem, and hub-reduction axles for light-, medium-, and heavy-duty trucks, as well as buses.

With Dana’s increased equity in the joint venture, DDAC will become its largest overseas axle manufacturing base.

Dana’s manufacturing experience in China stretches back to 1991.  In addition to DDAC, Dana manufactures off-highway axles, driveshafts, and transmissions; commercial vehicle driveshafts; light-duty axles and driveshafts; and thermal products in the country.

In May, Dana broke ground on a technical center in Wuxi, Jiangsu, China.  This facility will provide advanced product and applications engineering through research, design, development, and testing of driveline, sealing, and thermal products, including electric vehicle battery coolers.  The center is expected to be fully operational by the end of 2011.

In India, Dana has acquired the drive head manufacturing and final assembly operations of the commercial-vehicle axle business of AIL.  (The axle drive head includes the pinion, ring gear, differential lock, bearings, lube pump, and yoke inside the axle housing.)  Dana has also assumed responsibility for the marketing, sales, and engineering of these medium- and heavy-duty axles.

Key customers of this business are Ashok Leyland and Mahindra & Mahindra.  Dana’s investment of $13 million in this transaction is expected to generate approximately $50 million in annual revenue.  AIL, a joint venture between Dana and two India-based companies, will continue to manufacture axle housings for Dana and other customers.

“This transaction further extends our capabilities and operations in another rapidly growing market,” Wood said.  “Dana’s recognized manufacturing and engineering leadership will be a key advantage in growing both of these businesses.”

Dana’s manufacturing presence in India dates to 1965 and today includes the manufacture of axles and driveshafts for the automotive, commercial vehicle, and off-highway vehicle markets.  In addition, Dana is able to produce sealing products in this region.

About Dana Holding Corporation

Dana is a world leader in the supply of driveline products (axles and driveshafts), power technologies (sealing and thermal-management products), and genuine service parts for light and heavy manufacturers.  The company’s customer base includes virtually every major vehicle manufacturer in the global automotive, commercial vehicle, and off-highway markets.  Based in Maumee, Ohio, the company employs approximately 22,500 people in 26 countries and reported 2010 sales of $6.1 billion.  For more information, please visit www.dana.com.

http://www.dana.com

Distinguish Genuine Chinese Visa from Fake

China is becoming a popular tourism, education, and business destination. It is not surprising that many people now intend to apply for a Chinese visa because of their plans to soon drop by and check out the Asian country. In many countries, there have been reports of cases that involve fake China visas. Many agencies and unscrupulous individuals are aiming to defraud other people by issuing counterfeit or fake visas.

You should always be careful when applying for and getting your own China visa. If you would not be careful and cautious, you would end up getting a fake visa. In the end, you would be denied entry to the country. How could you possibly spare yourself from being victimized by those fakers? You need to make sure your visa is genuine and real. Here are some ways.

General observations

You could easily tell whether your Chinese visa is genuine or fake. You may not need to use a special machine or technique to do so. By examining the physical features of the visa, you could easily determine whether it is a fake or not. Always remember that a fake visas almost always get more rough in texture compared to a real one. The handwriting is usually illegible, even the signature. The seal is blurred. Fakers almost always commit errors on attachments to the visa pages. Normally, the visa is always fixed on the visa page.

You may check the validity or genuineness of your Chinese visa by comparing its overall appearance and features to the appearance of other people’s China visas. If you know someone who owns one, you may ask that person to show you his or her visa so you could compare how different yours is from the original one.

It is also ideal and wise to consult issuing organizations especially those that are authorized to release Chinese visas. If there is a Chinese embassy or consulate office in your area, you may have them check if the visa issued to you is genuine or fake. Do that especially if you have suspicions that you have been victimized by fakers. The authorities could help you better distinguish the overall validity of your visa.

How to avoid fakers

At this point, you should strive harder to spare yourself from being victimized by fakers who issue counterfeit or fake Chinese visas. You could avoid being issued with a fake visa if you would be more careful. To avoid fake visas, it is most recommended if you would apply for a China through the Chinese Embassy or consulate in your area. You could be sure the China visas to be issued by any of such offices is genuine and would be recognized in the country.

If you prefer to apply for a China through a travel agency, be more careful. Opt to deal only with a reputable and reliable travel agency, which has been processing visas for some time now. If your travel agency is reliable and trustworthy enough, for sure, it has already issued numerous visas in the past, which are all genuine and not fake. You may get feedback or recommendations from other people who have been processing Chinese visas from the same travel agency.

Seomul Evans is a senior SEO Services consultant and copywriter for Oasis a processor of China Visa Service.

– Focused on mid and large cap market

– Internationally experienced leadership and transaction team

– Has access to Chinese market via Andus-Leuliette JV

Leuliette Partners, LonePine Capital Advisors and The Novak Group today announced they have combined their operations to form FINNEA Group (“FINNEA”), a dedicated investment banking and restructuring firm that provides financial advisory services and merchant banking solutions.

The newly formed company focuses primarily on providing M&A advisory services, capital solutions, financial restructuring, interim management and private equity financing.

“By combining our companies we believe we can deliver unparalleled value and service to our customers as they navigate rapid changes in the global and financial markets,” partners Jim Klunk, Tim Leuliette, Tom McDonald and Joe Novak said in a combined statement. “We appreciate the support from our prior associations and look forward to growing our future together.”

The partners began the process of merging their operations in the fall of 2010.

FINNEA’s senior leadership team also has served in a variety of corporate leadership positions throughout North America, Europe and Asia. They have successfully dealt with the challenges of a global economy, changing macro-economic trends and dynamic shifts in many businesses to deal with an ever-changing economy.

In addition to its core financial advisory focus, FINNEA also became a partner in Andus-Leuliette LLC. Formed in January 2011, Andus-Leuliette specifically focuses on businesses that would benefit from access to the Chinese consumer/industrial market, or would gain from access to Asian capital and equity markets. Its operations include M&A advisory services, import/export trading, equipment leasing, private equity investment, commercial development and operating companies. The company has access to Chinese sovereign and other investment funds, which will infuse capital into the business and facilitate financial support with leasing and capital investment activities.

FINNEA serves a broad client base through its offices in Birmingham, Mich., Chicago, Ill., and West Palm Beach, Fla. It will move its headquarters to the Greenleaf Trust Building in Birmingham, Mich., in the fall of 2011.

About FINNEA Group

FINNEA Group offers M&A advisory services, capital solutions, restructuring, special situations, interim management and private equity investing. The founding partners and their team of highly experienced professionals have global expertise in both mid- and large-cap companies and extensive experience advising clients in a number of manufacturing and service industries. They have served in a variety of corporate leadership positions in North America, Europe and Asia.

For more details and contact information please visit www.finneagroup.com.

Media Inquiries
Marge Sorge
1821 West Maple
Birmingham, Michigan 48009
Office: 734.578.6507
Fax: 313.887.9465

Web Site: http://www.finneagroup.com

Forex Trader to Open in China

GAIN Capital Holdings, Inc., a global provider of online trading services, announced today that it has received formal regulatory approval from the China Banking Regulatory Commission (CBRC) to open a representative office in Beijing.

“Receiving the CBRC’s approval is an important step towards expanding our business in one of the fastest growing economies in the world,” commented Glenn Stevens, CEO of GAIN Capital.  “We believe the Beijing representative office will assist us in building strong relationships in China’s growing financial community and help provide a strong foundation for our future strategic plans in that country.”

GAIN Capital’s representative office will focus on building GAIN Capital’s brand in China, conducting market research on China’s financial regulations and market environments and facilitating the company’s relationships with Chinese financial institutions.

The CBRC is the primary banking regulator in China, supervising banks and non-bank institutions and their business operations within the country.

GAIN Capital’s Beijing office will be located at the Central International Trade Center. The office will extend GAIN Capital’s presence in the Asia-Pacific region, which currently includes offices in Hong Kong, Sydney, Singapore, Tokyo and Seoul.

About GAIN Capital

GAIN Capital Holdings, Inc. (NYSE:GCAP) is a global provider of online trading services. GAIN’s innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange (forex or FX), contracts for difference (CFDs) and exchange-based products, to a diverse client base of retail and institutional investors.

A pioneer in online forex trading, GAIN Capital operates FOREX.com®, one of the largest and best-known brands in the retail forex industry. GAIN’s other businesses include GAIN GTX, a fully independent FX ECN for hedge funds and institutions, and GAIN Securities, Inc. (member FINRA/SIPC) a licensed U.S. broker-dealer.

GAIN Capital and its affiliates have offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo; Singapore and Seoul.

For company information, visit www.gaincapital.com .

All trade names are the property of their respective owners.

CONTACT: For GAIN Public Relations, Christa Conte, +1-212-808-4902, or Savannah Tikotsky, +1-212-808-4903, Feintuch Communications, gain@feintuchpr.com, or for GAIN Investor Relations, Henry Lyons, GAIN Capital, ir@gaincapital.com, +1-908-212-3980

Web Site: http://www.gaincapital.com

Chinese Healthcare Ripe for Savvy Investors

150+ Page China Healthcare Industry Report is Newly Released by Advisory Firm AmerAsia Capital Partners

AmerAsia Capital Partners, LLC (“AmerAsia”) (http://www.amerasiagroup.com), a U.S.-Asia focused financial and strategic advisory firm, has released its report on the China Healthcare Industry. The report examines the key factors that are changing China’s healthcare sector in fundamental and unprecedented ways. An in-depth analysis of Chinese healthcare firms from a capital markets perspective and selected profiles of U.S. listed Chinese healthcare companies are included.

Key Highlights

  • Aligning major growth drivers are expected to sustain and potentially accelerate over this decade the impressive 20+ percent top-line growth of China’s USD 300+ billion healthcare industry.
  • By 2020, China’s healthcare industry is forecast to be close to becoming the world’s largest as the effect of socioeconomic forces, healthcare reform, industry restructuring and government efforts to foster technological advances converge to yield impressive results.
  • Structural changes are altering the industry landscape irrevocably and can provide unprecedented bottom line opportunities for pitfall savvy investors.
  • The authors believe U.S. listed China healthcare stocks are discounted in relation to their peers in Hong Kong and mainland China despite comparable fundamentals.

About the Authors

The 150+ page report (http://www.amerasiacapital.com/contact1.asp) was compiled over several months by a team that has extensive and varied experience in healthcare as industry analysts, consultants, company management, investment bankers and financial advisors both in the U.S. and China. Key members are:

  • Sandesh Seth, Managing Partner at AmerAsia and Head of Healthcare Investment Banking at Laidlaw & Company (UK) Ltd.;
  • Huakang (David) Zhou, Advisory Board Member of AmerAsia and Chairman of Warner Technology and Investment Corp.; and
  • Robert LeBoyer, Managing Director at AmerAsia and a veteran Healthcare Equity Research Analyst.

About Our Services

AmerAsia provides financial and strategic advisory services to emerging growth companies with an emphasis on healthcare firms engaged in U.S.–Asia cross border activity. AmerAsia team members offer high-quality investment banking services with a focus on financings (PIPEs, Bridge loans, Private Equity), M&A and strategic advisory through Laidlaw & Company (UK) Ltd. Laidlaw is a full-service investment banking and brokerage firm registered with FINRA and the FSA. Laidlaw has institutional and retail distribution through its 100+ member sales force and focuses its investment banking efforts in two domains; healthcare, and metals and mining. Laidlaw’s investment advisors are a source of capital for growth companies.

Media Contact:
Sandesh Seth, Managing Partner
T: (646) 827-2460
chinareport@amerasiacapital.com

Web Site: http://www.amerasiagroup.com

Matrix Partners China Closes $350 Million Fund II and Matrix Partners India Closes $300 Million Fund II

Matrix Partners, a premier venture capital firm with a 30-year history, today announced the close of two new funds: Matrix Partners China II at $350 million and Matrix Partners India II at $300 million. This brings the total international assets under management to $650 million in China and $600 million in India. The new funds demonstrate the firm’s strength and investors’ confidence in these international markets.

“Matrix continues to be very excited about the scale of opportunity in China and India,” said Timothy A. Barrows, Managing Partner of Matrix Partners. “Both countries are experiencing tremendous growth and there continues to be an enormous need for many new products and services. Our international teams remain committed to working closely with the very best entrepreneurs to cultivate new ideas and build great companies.”

In the short time since its 2008 founding, Matrix Partners China has become a leader in early-stage investing in the Chinese market. The firm targets companies in TMT and health care, and has been especially active in Internet and mobile. Its Beijing-based investment team, led by David Zhang, David Su and Bo Shao has been a part of the creation and growth of many influential businesses, including Eachnet, Focus Media, Bona, Edan and 21ViaNet.

As the first leading venture capital firm to establish a fund in India in 2006, Matrix Partners was early to recognize the tremendous potential in India. Based in Mumbai, the firm focuses its investments across significant growth sectors, including Internet and mobile, education, and financial, healthcare and infrastructure services. Matrix Partners India’s investment team is led by Avnish Bajaj, the former co-founder, Chairman and CEO of India’s largest online marketplace Baazee.com (acquired by eBay), and Rishi Navani, who previously served as Managing Director at WestBridge Capital Partners.

For more information about Matrix Partners’ latest investments, please visit www.matrixpartners.com.

About Matrix Partners:

Matrix Partners is a premier venture capital firm that has generated outstanding returns for over three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry’s top performing funds of all time. Matrix Partners has offices in Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. The firm has been fortunate to have invested in game-changing, industry-leading businesses such as Apple Computer, Sandisk, Veritas, Sycamore Networks, Phone.com, Starent Networks, JBoss and Gilt Groupe.

Editorial Contact:
Stephanie Gnibus
GMK Communications for Matrix Partners
408.776.9727
stephanie@gmkcommunications.com

Web Site: http://www.matrixpartners.com

Automotive CEO’s Optimistic About Growth

China is vital to automotive industry manufacturing strategies as the number one vehicle market in the world; innovation key to global growth

Automotive CEOs surveyed by PwC in the fourth quarter of 2010, are confident that growth is on the rise in 2011.  This represents a full 90 percent of automotive CEOs indicating that they are somewhat confident or very confident in achieving revenue growth in the next 12 months, which is nearly as high as their opinion before the global financial downturn in 2008, according to PwC’s 14th Annual Global CEO Survey: automotive industry summary.

To access the chart, “Automotive CEOs’ confidence is on the rise,” please visit: http://photos.prnewswire.com/prnh/20110221/NY51032.

Automotive CEOs also specified that Brazil, Russia, India and China (BRIC) are important for future growth.  They are particularly interested in China, with 64 percent seeing it as a top future market.

PwC Autofacts anticipates that about 80 percent of global growth from 2010 to 2017 will come from emerging markets, and 34 percent of that forecast will come from China alone.  This prediction is also the opinion of automotive CEOs surveyed, with 64 percent indicating that they are particularly interested in China — a response that is 25 percentage points above the overall cross-sector average.

China is now the largest automotive market with sales surpassing the U.S. in 2009. China will continue to play a vital role in the automotive industry manufacturing strategies.  There are already more automotive assembly plants in China than anywhere else in the world.

“Automotive companies that have made strategic decisions to invest in China and forge joint ventures with Chinese partners are seeing strong revenue growth because of the actions taken over the last decade,” said Rick Hanna, global automotive leader, PwC.  “Automotive companies recognize the importance of the domestic China market share.  However, long-term sustainable profits will still be dependent on producing vehicles that consumers want to buy at the right price.  This is as true in China as it is everywhere else in the world.”

The survey results indicate that innovation across the supply chain is critical to meeting consumer demands.  For decades, the automotive manufacturers and suppliers have closely integrated to drive product innovation and this trend continues to accelerate.  Results indicate that 76 percent of automotive CEOs plan to change their corporate strategies to foster product innovation across the supply chain.

“Today, the supply chain is more diverse than the industry has seen in the past,” explained Hanna.  “The supply base and partnerships have expanded to include battery makers, technology companies and energy companies to advance the development of electric vehicles and the infrastructures to support future demand and the technology platforms inside today’s vehicles.”

The latest Annual Global CEO Survey: Automotive Industry Summary includes interviews with Timothy M. Manganello, Chairman and CEO of BorgWarner Inc. and Stephen A. Roell, Chairman and CEO of Johnson Controls, Inc.  More in-depth results, industry trends and CEO viewpoints can be found in the 14th Annual Global CEO Survey and the Automotive Industry Summary at www.pwc.com/ceosurvey or www.pwc.com/auto.  Additional industry summaries are also available.

About PwC’s 14th Annual Global CEO Survey Methodology

For PwC’s 14th Annual Global CEO Survey, 1,201 interviews were conducted in 69 countries during the last quarter of 2010. By region, 420 interviews were conducted in Western Europe, 257 in Asia Pacific, 221 in Latin America, 148 in North America, 98 in Eastern Europe and 57 in the Middle East & Africa.  The Automotive Industry Summary comprises of 50 automotive respondents from 20 countries.

The full survey report with supporting graphics can be downloaded at www.pwc.com/ceosurvey.  Additional media material of the CEO Survey results will be available in the BroadcastRoom within the PwC Global Press Room.

About Autofacts®

Autofacts, PwC’s automotive forecasting service, is a provider of automotive market analysis, strategy development, and competitive intelligence to the world’s leading vehicle manufacturers, automotive suppliers, and support organizations.  Autofacts service offerings are available on-demand, for one-time purchase and through an annual subscription basis to access the on-line portal with Autofacts’ proprietary data query tool.  For more information regarding Autofacts, please visit their website at www.autofacts.com.

About the PwC Network

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information.

© 2011 PwC. All rights reserved. “PwC” and “PwC US” refer to PricewaterhouseCoopers LLP, a Delaware limited liability partnership, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate and independent legal entity.

CONTACT: Gill Carson, PwC, +44 (0) 20-7212-1391, gill.carson@uk.pwc.com, or Kristin McCallum, PwC, +1-313-394-6349, kristin.l.mccallum@us.pwc.com, or Laura Schooler, PwC US, +1-646-471-3229, laura.schooler@us.pwc.com

Web Site: http://www.pwc.com

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