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DMCC’s Ahmed Bin Sulayem is Recipient of JNA Awards 2014’s Outstanding Contribution Award

HONG KONG, Aug. 29, 2014 /PRNewswire/ — JNA (Jewellery News Asia), organiser of the JNA Awards, is pleased to announce that Ahmed Bin Sulayem, Executive Chairman of DMCC (Dubai Multi Commodities Centre), is the recipient of the 2014 Outstanding Contribution Award.

 

JNA Awards logo 2014
Ahmed Bin Sulayem


Ahmed Bin Sulayem

Bin Sulayem, the second individual to be receiving this annual accolade, will be honoured at the JNA Awards Ceremony and Gala Dinner on 16 September at the InterContinental Hong Kong. The much-anticipated awards event, the culmination of a year-long process, will be held alongside the world’s No. 1 fine jewellery event, the September Hong Kong Jewellery & Gem Fair.

Bin Sulayem’s accomplishments have had an extraordinarily positive and enduring impact, not only on DMCC and Dubai, but on the global gemstone and jewellery industry, according to Letitia Chow, Chair of the JNA Awards judging panel.

Chow added, "Under Ahmed Bin Sulayem’s leadership, DMCC has enhanced the flow of diamonds, precious metals, pearls and other commodities through Dubai – one of the world’s leading trade hubs. His vision and boldness in executing his role at DMCC has led to the expansion of the global commodities sector.

His leadership has not only established Dubai as a major commodities trading hub, but also promoted synergistic collaboration with trading partners in Asia."

Under Bin Sulayem’s guidance, Dubai has become one of the leading diamond trading centres in the world – ideally positioned, geographically and operationally, to serve a pivotal role in the "New Silk Road."

Commenting on the award, Bin Sulayem said: "It is an honour to accept this prestigious award on behalf of DMCC and Dubai as testament to the strength and leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai. It is his vision that has enabled DMCC to establish Dubai as the global hub for commodities trade and enterprise, and in doing so making the most of the Emirate’s geographical location between the jewellery and gemstone-producing and consuming countries."

Bin Sulayem continued, "Today’s gold trade through Dubai has grown from US$6 billion in 2003 to US$75 billion in 2013. The diamond industry has equally grown to some US$39 billion, and Dubai today is ranked among the world’s top three marketplaces for rough and polished diamonds. We are proud to have achieved this in just 10 short years.

"We look forward to continuing on this strong growth trajectory and to further collaborate with our trading partners in mainland China, Hong Kong, as well as other Asian key market players to maximise on the many opportunities that lie ahead."

Bin Sulayem joined DMCC in 2001 and has since introduced revolutionary infrastructure such as Almas Tower, the tallest commercial tower in the Middle East purpose-built for the diamond trade; and a number of successful products and services, including the establishment of the DMCC Free Zone, the Dubai Gold and Commodities Exchange (DGCX) the Dubai Diamond Exchange (DDE), and other services such as gold refineries, gold and diamond vaults, and the UAE Gold Bullion Coins which were designed to celebrate the accomplishments and vision of the UAE’s leaders. Bin Sulayem has also played a leading role in reviving Dubai’s traditional pearling industry by launching the Dubai Pearl Exchange in 2007. In just over a decade, DMCC has enabled the flow of trade through Dubai to grow immensely while positioning its free zone as the global gateway for commodities trade and enterprise.

Now in its third year, the JNA Awards is an industry-wide event that honours and recognises excellence and achievement in the global jewellery trade with an Asian focus. In 2013, it conferred the Outstanding Contribution of the Year Award to celebrated jewellery master and sculptor Wallace Chan, who has made a significant impact on the global haute joaillerie scene following his spectacular debut at the Biennale des Antiquaires in Paris in 2012.

For the Awards’ 2014 edition, a total of 29 companies and six individuals from 11 countries and regions have been shortlisted across 16 categories.

The event has received an overwhelming response in attendance to the night of the awards ceremony and gala dinner. For more information on the event and past award recipients, please visit www.JNAawards.com.

Notes for Editors:

1. About JNA (www.jewellerynewsasia.com)

JNA is the flagship magazine of UBM Asia’s Jewellery Group. First published in 1983, the title is the leader in providing up-to-date international jewellery trade news with an Asian insight. It features original, in-depth reports by experienced journalists covering the latest developments in the diamond, pearl, gemstone, jewellery manufacturing, and equipment and supplies sectors.

2. About the Headline Partners

2.1 Rio Tinto Diamonds (www.riotintodiamonds.com)

Rio Tinto operates a fully integrated diamonds business from exploration through to sales and marketing. It is one of the world’s major diamond producers through its 100 percent control of the Argyle mine in Australia, 60 percent interest in Diavik mine in Canada, 78 percent interest in the Murowa mine in Zimbabwe and 100 percent interest in the Bunder project in India.

Rio Tinto’s share of the production from its three operating diamond mines is sold through its sales and marketing office in Antwerp, with representative offices in Mumbai, Hong Kong and New York. It also operates a niche cutting and polishing factory in Perth for the rare pink diamonds from its Argyle mine. Rio Tinto is a leading supporter of the Kimberley Process, as well as a founding member of the Responsible Jewellery Council.

2.2 Chow Tai Fook Jewellery Group Limited (www.chowtaifook.com)

Chow Tai Fook Jewellery Group Ltd, a leading jeweller in Mainland China, Hong Kong and Macau, was listed on the Main Board of The Stock Exchange of Hong Kong in December 2011 and has become the world’s largest pure-play jeweller by market capitalisation. Chow Tai Fook is now a constituent stock of the Hang Seng China 50 Index and the Hang Seng Mainland 100 Index. Its principal products are mass luxury jewellery and high-end luxury jewellery products including gem-set jewellery, gold products, platinum and karat gold product, and watches.

The Group’s iconic brand "Chow Tai Fook" and 85 years of operations represent key competitive advantages of its business. The Chow Tai Fook brand is recognised for its trustworthiness and authenticity, and renowned for its product design, quality and value.

The Group has an extensive retail network, with over 2,100 points of sale in more than 470 cities in Greater China, Singapore and Malaysia. It also has a growing presence in e-commerce. The Group’s vertically integrated business model provides an effective and tight control over the entire operation chain from raw material procurement, design, production, to marketing and sales through its extensive retail network.

3. About the Honoured Partners

3.1 Diarough Group (www.diarough.com)

Diarough Group was established in Antwerp in 1975 and owns diamond polishing factories in China, India, Thailand and Botswana, with a network of sales offices around the world. Diarough is known among the most professional and respected names in the international diamond industry.

Diarough believes in building and nurturing long-term business relationships based on mutual trust, finding solutions to business and marketing problems, creating marketable opportunities through innovative products and providing excellent client services.

Its jewellery manufacturing unit Uni-Design has produced many award-winning jewellery pieces, which have been proudly worn by celebrities on the red carpet over the years.

The Group employs over 3,500 people and is engaged in a wide range of diamond business activities like rough trading, cutting, polishing, jewellery manufacturing and marketing to retailers, chain stores, global brands and private labels worldwide. Diarough employs advanced technology and modern work speed with traditional ethical business practices upon which the Company was founded.

3.2 Gubelin Group (www.gubelin.com)

Since 1854, the name Gubelin has stood for the very highest standards in gemstones, jewellery and watches. With its selection of the most sought-after timepieces and jewellery of its own design, the family-run business is represented at all the prime locations in Switzerland: Lucerne, Zurich, Basel, Bern, St. Moritz, Lugano and Geneva. Last November, Gubelin Jewellery established its presence in Hong Kong.

Besides the jewellery boutiques and the Gubelin Ateliers, the group has a newly-established Academy and a world-renowned Gemmological Laboratory. The Gubelin Gem Lab is one of the oldest and most respected institutions of its kind, relied on by dealers, auction houses, royal families and collectors since the 1920s.

3.3 KARP Group (http://www.karpjewellery.com/)

With over four decades of experience and expertise in the diamond trade, KARP caters to international luxury brands. Apart from being a DTC Sightholder, the group is recognised as an "institution" in the industry, using the most technologically advanced manufacturing systems in the business. KARP manufactures a huge array of products, from 0.005-carat goods to stones weighing 10 carats and above.

It excels in the production of certified fine makes, fancy-cut goods and fancy coloured diamonds. The manufacturer is one of the few companies that has achieved up to 5-micron precision in diamond manufacturing.

3.4 Paspaley Pearling Company (www.paspaley.com)

Paspaley Pearling Company is the leading producer of Australian South Sea pearls, supplying strands, loose pearls and mother-of-pearl shells to many of the world’s leading jewellery wholesalers, manufacturers and retailers.

The Paspaley family became involved in pearling in the 1920s and is the world’s only South Sea pearl producer with origins in the natural pearl industry. Paspaley Pearling Company Pty Ltd was incorporated in 1953 and built its success and reputation as a pioneer in the cultivation of South Sea pearls. Today, the Company sets the benchmark for modern pearling practices, operating numerous pearl farms dotted along more than 2,500 kilometres of the remote and pristine coastline of north-west Australia.

Paspaley’s harvest represents the majority of Australian South Sea pearl production and has a well-deserved reputation for exceptional quality.

3.5 Shanghai Diamond Exchange (www.cnsde.com)

Authorised by the State Council, the Shanghai Diamond Exchange (SDE) is the only diamond exchange in China and provides diamond dealers a fair and safe transaction venue under close supervision. It also enjoys a favourable taxation policy and is operated in accordance with international best practices of the diamond industry.

Established in 2000, the SDE is a non-profit, self-regulating membership organisation and a member of the World Federation of Diamond Bourses.

3.6 The Israel Diamond Institute (www.israelidiamond.co.il)

The Israel Diamond Institute Group of Companies (IDI) is a non-profit, public interest company representing all institutions involved in the Israeli Diamond Industry. Israel is one of the world’s leading diamond centres, and the Israeli diamond industry has an illustrious history dating back to the late 1930s.

IDI works for the benefit of Israel’s diamond industry in the areas of marketing and business promotion, international communications, R&D, rough sourcing, professional training, publishing and security consultancy. IDI is responsible for industry participation in major trade fairs around the world, organising Israeli Diamond Pavilions, receptions, press conferences and other events at these fairs.

IDI operates a representative office in Hong Kong, which fosters trade relations with Asian markets.

3.7 The Guangdong Land Holdings Limited (www.gdland.com.hk/en)

The Guangdong Land Holdings Limited (GDLAND), with its headquarter in Hong Kong, is listed on The Stock Exchange of Hong Kong Limited, and is a subsidiary of GDH Limited, which is Guangdong Province’s largest conglomerate operating outside Mainland China.

The principal business of GDLAND is property development and investment, including but not limited to the development and operational management of the innovative commercial real estate, urban complex and industrial business complex. As the strategic arm of GDH Limited, GDLAND engages in the business development of commercial real estate, as well as the projects of urban and industrial complex.

GDLAND’s flagship project, namely the "Buxin Project", is planned to become the biggest and most advanced jewellery mart in the world, including a large-scale jewellery trading and exhibition centre along with other facilities, with a lot size of over 87,000 square metres. The Buxin Project, which is located in the Buxin area of Luohu district in Central Shenzhen, close to the Shuibei Gold and Jewellery Base, is expected to develop the area into one of the most influential gold and jewellery trading and exchange platforms in China and around the world.

4. About UBM Asia

Owned by UBM plc listed on the London Stock Exchange, UBM Asia is Asia’s leading exhibition organiser and the biggest commercial organiser in mainland China, India and Malaysia. Established with its headquarters in Hong Kong and subsidiary companies across Asia and in the US, UBM Asia has a strong global presence in 24 major cities with 30 offices and over 1,300 staff.

With a track record spanning over 30 years, UBM Asia operates in 20 market sectors with 160 dynamic face-to-face exhibitions, 75 high-level professional conferences, 28 targeted trade publications, 18 round-the-clock vertical portals and virtual event services for over 1,000,000 quality exhibitors, visitors, conference delegates, advertisers and subscribers from all over the world. We provide a one-stop diversified global service for high-value business matching, quality market news and online trading networks.

UBM Asia has extensive office networks in China, Southeast Asia and India, three of the world’s fastest growing B2B events markets. UBM China has 11 offices in the major cities in mainland China, including Beijing, Shanghai, Guangzhou, Hangzhou, Chengdu and Shenzhen, where we organise more than 70 exhibitions and conferences. In ASEAN, UBM Asia operates from its offices in Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines with over 60 events in this region. UBM India teams in Mumbai, New Delhi, Bangalore and Chennai organise 20 exhibitions and 60 conferences every year across the country.

For more information, contact:

JNA Awards Marketing
UBM Asia (Hong Kong
+852-2516-2184
marketing@jnaawards.com

Photo – http://photos.prnasia.com/prnh/20140828/8521404865 
Logo – http://www.prnasia.com/sa/2010/04/19/20100419602891.jpg
Logo – http://photos.prnasia.com/prnh/20140414/8521402187LOGO

LG Innotek Develops World’s First “Rare Earth Free” Automotive DCT Motor

– Eases concerns on reliance on uncertain rare earth supplies and supports environmental protection

SEOUL, South Korea, August 28, 2014 /PRNewswire/ — LG Innotek, a leading global components manufacturer, today announced that the company has developed world’s first “rare earth free” automotive dual-clutch transmission (DCT) motor. The development of the new DCT motor and associated manufacturing and quality control equipment will lead to its production by LG Innotek early next year.

LG Innotek Rare Earth Free DCT Motor

The motor marks an important breakthrough since it will ease concerns among automakers about their reliance on uncertain rare earth supplies. Rare earth elements are usually used in materials for automotive motors, but they are difficult to source and are subject to sharp price increases when supplies dwindle. There are only small and concentrated reserves worldwide of the rare earth minerals, which are often used to provide magnetic properties for automotive motors. This new motor also reflects LG Innotek’s efforts to protect the environment since the mining, refining and disposal of rare earth minerals can cause environmental damage.

Minerals like Neodymium (Nd) and Dysprosium (Dy) are considered essential in the manufacture of DCT motors due to their magnetic properties. The automotive industry has been studying alternatives to rare earth minerals, but it has faced difficulties because other materials were not as suitable.

The DCT motor is a core driving system component that is attached to a dual-clutch automatic transmission. This motor powers the dual-clutch automatic transmission in a fast and precise manner to enable the switching of gears swiftly and smoothly to adjust to different driving conditions.

The dual-clutch automatic transmission equipped with the DCT motor is gaining attention in Europe and other developed markets since it delivers up to 12 percent better fuel efficiency than regular automatic transmissions and 5 percent better fuel efficiency than manual transmissions.

LG Innotek has developed its own technology in motor structure design and succeeded in creating the rare earth free DCT motor that meets required performance standards, while being 4 percent lighter despite being similar in size to conventional DCT motors.

The company spent more than two years in developing the technology and registered 13 related Korean and foreign patent applications.

LG Innotek is focusing on developing electronic automotive components as part of the IT convergence in the automotive sector, of which the new DCT motor is an example.

The new DCT motor will start being produced at LG Innotek’s automotive components plant in Mexico from early next year. The company is committed to actively drive market expansion of the DCT motor as the demand increases due to its improvement on driving performance and fuel efficiency.

LG Innotek believes the rare earth free DCT motor will be popular among customers because it meets performance, size and weight requirements while guaranteeing a stable supply.

About LG Innotek, Ltd.

LG Innotek is a leading global components and materials manufacturer and an affiliate of LG Group. LG Innotek was established in 1970 and recorded $5.7 billion in sales in 2013. The company specializes in components for the smartphone, automotive and LED lighting sectors, including camera modules, auto electronic components, LED, and substrate materials. It is the world’s largest manufacturer of camera modules.

In the automotive component sector, LG Innotek focuses on the convergence of cutting-edge technologies, performance and safety-related components. LG Innotek’s automotive components include a wide range of vehicle motors including ABS motors, EPS motors, AFLS Actuators, DCT motors, electric oil pump, traction, belt-driven starters and generators and torque angle sensors. LG Innotek also produces camera modules, 3G and 4G telecommunication modules, Bluetooth modules, Wifi modules, DC/DC converters for electronic vehicles, battery management systems, wireless power chargers, PCB, and LED light source and modules.

LG Innotek is listed on the Korea Exchange (011070 KS).For more information, visit www.lginnotek.com.

LG Innotek Rare Earth Free DCT Motor

Photo – http://photos.prnewswire.com/prnh/20140828/140902
Photo – http://photos.prnewswire.com/prnh/20140828/140903

Kerui Makes Inroads into the Market of Large GT-driven Screw Compressors

DONGYING, China, Aug. 26, 2014 /PRNewswire/ — Recently, Kerui Petroleum Equipment Co., Ltd. (hereinafter referred to as "Kerui") signed a contract with a company from Southeast Asia. In accordance with the provisions of the contract, Kerui will provide a set of large GT-driven (gas turbine driven) screw compressor units to the company, which will be used in its LPG project. With the designed capacity of 1,580.8 kW, this set of units is driven by a natural gas engine. The power of the compressor axis is 1,142.2 kW, and a speed-increasing gearbox is equipped between the compressor and the engine. The overall technology is at the leading level in the world.

In order to ensure smooth delivery of the project and to meet technical requirements of customers, Kerui has established partnership with a global well-known screw compressor manufacturer and signed a strategic partnership agreement with this company, which has a long history and rich experience in the field of screw compressors, to promote the project jointly. This partnership is significant for both parties to complement each other’s advantages and to achieve the goal of win-win.

In the project, by integrating global resources and making continuous innovations in R&D and design, and based on its solid R&D foundation and proven skid technology, Kerui has provided satisfactory system solutions to its customers. Meanwhile, Kerui guarantees the project runs properly through the established partnership, strict quality control and efficient project management.

In this project, the biggest difficulty of technology is how to drive the set of units with a natural gas engine. As far as we know, only a few domestic and foreign companies have used natural gas engines to drive screw compressors. In particular, the technical requirements are very high for large-power screw compressors. After successful delivery of the project, Kerui and its partner’s compressor skid technology will make a qualitative leap and reach the global leading level, so as to help build GT-driven screw compressors both in China and in the world.

China Gerui Advanced Materials Group Limited Announces Conference Call to Discuss Unaudited Second Quarter 2014 Financial Results

ZHENGZHOU, China, August 26, 2014 /PRNewswire-FirstCall/ — China Gerui Advanced Materials Group Limited (NASDAQ: CHOP) (“China Gerui,” or the “Company”), a leading high-precision, cold-rolled strip steel producer in China, today announced that the Company will host a conference call to discuss its unaudited financial results for the second quarter ended June 30, 2014 at 9:00 A.M. EDT on Thursday, September 04, 2014.

The Company plans to issue its second quarter unaudited financial results on Thursday, September 04, 2014 prior to the conference call.

Listeners may access the call by dialing +1 (877) 407-8031 five to ten minutes prior to the scheduled conference call time. International callers should dial +1 (201) 689-8031.

A replay of the conference call will be available for 14 days starting from 12:00 P.M. EDT on Thursday, September 04, 2014. To access the replay, dial +1 (877) 660-6853. International callers should dial +1 (201) 612-7415. The conference ID number is 13589992.

A live and archived webcast of the call will be available on the Company’s website at www.geruigroup.com/Webcasts.html. To listen to the live webcast, please go to the Company’s website at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software.

About China Gerui Advanced Materials Group Limited

China Gerui Advanced Materials Group Limited is a leading niche and high value-added steel processing company in China. The Company produces high-end, high-precision, ultra-thin, high- strength, cold-rolled steel products that are characterized by stringent performance and specification requirements that mandate a high degree of manufacturing and engineering expertise. China Gerui’s products are not standardized commodity products. Instead, they are tailored to customers’ requirements and subsequently incorporated into products manufactured for various applications. The Company sells its products to domestic Chinese customers, with an emerging presence in international markets, in a diverse range of industries, including the food packaging, telecommunication, electrical appliance, and construction materials industries. For more information, please visit http://www.geruigroup.com.

Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our Form 20-F for the year ended December 31, 2013 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the SEC, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Company Contact:

Investor Relations Contacts:

Email: investors@geruigroup.com

Vivian Chen

Kevin Theiss

Website: www.geruigroup.com

Managing Director

Account Director

Grayling

Grayling

Phone: 646-284-9427

Phone: 646-284-9409

Email: vivian.chen@grayling.com

Email: kevin.theiss@grayling.com

Noble Group and EIG Form New Energy Company

HONG KONG and WASHINGTON, July 14, 2014 /PRNewswire/ — Noble Group Limited (SGX: N21) ("Noble") and EIG Global Energy Partners ("EIG") today announced the formation and commitment to capitalize Harbour Energy, Ltd ("Harbour Energy"), a company that will own and operate upstream and midstream energy assets globally. Harbour Energy will seek to own high quality assets that provide exposure to key supply trends while capturing value up-lift associated with control of offtake, logistics and supply chain management. Noble will be preferred offtake and marketing partner of Harbour Energy, while EIG, together with the company’s internal management team, will serve as manager of the company and oversee the acquisition of assets. Harbour Energy’s capitalization will be funded solely through balance sheet capital of each of Noble and EIG.

EIG also announced today that Linda Z. Cook has been appointed a Managing Director of EIG, a member of EIG’s Executive Committee and CEO of Harbour Energy.

"The creation of Harbour Energy gives us the exciting opportunity of joining with an industry leader such as EIG to exploit the tremendous opportunities that the changing global energy markets are presenting," said Yusuf Alireza, Chief Executive Officer of Noble. "This transaction represents a significant milestone in the continued implementation of Noble’s ‘asset light’ strategy, exploiting our best in class expertise in logistics and supply chain management, while partnering with market leading asset managers and owners."

R. Blair Thomas, Chief Executive Officer of EIG, said, "New sources of supply, together with demand growth in Asia, are driving fundamental changes in the energy sector and related trade flows. By partnering with Noble, we believe Harbour Energy will be uniquely positioned to benefit from the established global platforms of each of our firms and capture value both through the ownership and operational improvement of assets and the flow business those assets generate. We couldn’t be more pleased that someone of the caliber of Linda Cook has agreed to join EIG and serve as CEO of Harbour Energy. She is an extraordinarily accomplished senior executive with deep operating and management expertise across all facets of the global energy industry."