Latest Scandinavian Business News

Sweden’s Sandvik Mining appoints Chinese exec

WantChinaTimes reported that Swedish mining equipment supplier Sandvik Mining is one of the latest companies to name a Chinese executive after Gao Dinggui was named as president of its construction business. Sandvik’s move is part of a trend that sees a growing number of multinational machinery companies in China appointing Chinese executives after losing their…

Finland’s Aker to design China’s new icebreaker

China expects to build its new icebreaker before 2016, government officials said, as the veteran Xuelong, or Snow Dragon, remains stuck in Antarctic ice after rescuing 52 passengers from a Russian vessel. “The new ship will surpass China’s only icebreaker, the Xuelong, in scientific research and ice-breaking ability, greatly improving the country’s polar research capability,”…

KONE wins order for tallest building in Guangxi Province, China

KONE has won an order to provide 36 eco-efficient elevators and four escalators to Liuzhou Diwang International Fortune Center in China. The four-building mixed-use development will be located in the center of Liuzhou, a major industrial city in the southwest of China. When it is completed at the end of 2014, the 303-meter-high tower will…

Indonesian cement plant orders Danish production line

Indonesian cement producer, PT Semen Padang, has ordered a new cement production line with a capacity of 8,000tpd from FLSmidth (Denmark), work EUR40m (DKK 300m), according to a press release from the Danish equipment manufacturer. The plant is located in Indarung, just outside the city of Padang in West Sumatra, Indonesia. The order comprises equipment…

Carlsberg buys Chongqing Beer Group

Danish brewer Carlsberg said in December 2013 it had bought the owner of eight Chinese breweries for 1.4 billion kroner (US$258 million) as it grows outside the sluggish markets of western Europe. “Chongqing Beer Group has informed the Carlsberg Group that it has accepted Carlsberg’s offer to acquire 100 percent of Chongqing Beer Group Assets…

Wartsila to capitalise on China’s shipbuilding industry

Wartsila Corp, one of the world’s largest ship power suppliers and manufacturers by revenue, is hoping to turn China into its biggest market by adding more manufacturing capacity in the country next year. Eager to gain a larger foothold in the nation’s lucrative shipbuilding market this year, the Finnish company will open a joint venture…

China keeps Microsoft’s Nokia takeover under microscope

China’s top commerce watchdog is taking a more prudent approach than usual to granting approval for US software giant Microsoft Corp’s takeover of mobile telephone business from Finland-based Nokia, Beijing-based newspaper The Economic Observer reported on 21 December 2013. Such acquisitions usually get approval from China’s Ministry of Commerce after a 30-day first-phase investigation. But…