On March 28, China’s Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. in GOTEBORG, Sweden, Sunday to acquire the U.S. auto giant’s Volvo car unit. Under the definitive stock purchase deal, Geely will own 100 percent of Volvo Cars and its related assets.

Geely, an independent automaker that has struggled to raise its profile in overseas markets, has long coveted a stronger foothold in Europe. Coincidently, Ford has been trying to sell Volvo since late 2008 to focus its resources on managing its core Ford, Lincoln and Mercury brands. The deal is China’s biggest overseas auto purchase and represents the most ambitious move by a homegrown auto brand. Geely Chairman Li Shufu said “Today represents a milestone in the history of Geely.”

In fact, it is not only a milestone of Geely, but also an epoch-making point of Chinese national industry and Chinese investors. The acquisition demonstrates to the world that China is ready for overseas expansion, in other words, Chinese enterprises are looking for a larger share of world market with full pocket of capital.

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China Minmetals Non-ferrous Metals Co. Ltd. (CMN) has bought HPTec, Germany’s leading manufacturer of drills and cutters.

China Minmetals Non-ferrous Metals Co. Ltd. (CMN) is a subsidiary under the country’s metal and mineral giant China Minmetal Corp. (CMC), one of China’s leading importers and exporters of metals and minerals. As one of the Fortune 500, CMC’s operating revenue was $21.8 billion in 2007, with profits topping 7.1 billion yuan ($1.02 billion).

HPTec is founded in 1977 and has branches in Singapore, the Republic of Korea and China.

CMN said this move is to update its tungsten sector and it will have a 100% control of the Ravensburg-based company, the biggest European producer of printed circuit board (PCB)-use microcutting tools.

The acquisition is part of CMC’s strategy since 2002 to shift its business focus from metal trading to production.

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