Swire Pacific
Swire Pacific Limited's wholly owned subsidiary Swire Finance Limited has mandated Bank of China (Hong Kong) Limited, CALYON, The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank (Hong Kong) Limited and Sumitomo Mitsui Banking Corporation (collectively known as the "Mandated Coordinating Arrangers and Bookrunners") to arrange a HK$10,000 million term loan/revolving credit facility. The facility is fully underwritten by the Mandated Coordinating Arrangers and Bookrunners. The proceeds will be used to finance Swire Pacific's general corporate funding requirements, including refinancing the existing outstanding indebtedness. [ Details ]
Aviation
Hong Kong Aircraft Engineering Company Limited (HAECO) held a ground-breaking ceremony on 28th September to mark the start of construction of its third aircraft maintenance hangar at Hong Kong International Airport (HKIA). At an investment of HK$670 million, the world-class 16,000 square-metre facility will be able to simultaneously accommodate two wide-bodied aircraft and one aircraft nose-in, to provide a total of three Boeing 747 sized aircraft maintenance positions. Scheduled for full operation in June 2009, the new hangar will allow a 33% increase in annual heavy maintenance capacity at HKIA, and will result in the creation of 350 skilled jobs in Hong Kong. HAECO opened its second hangar at HKIA in December last year and is able to accommodate eight aircraft for maintenance in its current facilities. [ Details ]
Dragonair will re-launch scheduled services to Kathmandu on 2nd December. Subject to Nepalese Government approval, flights will operate four times a week using an Airbus A320 aircraft. Dragonair first launched flights to Kathmandu in 1989. [ Details ]
Cathay Pacific Airways has teamed up with US charity Room to Read and Scholastic Inc and will use one of its new Boeing 777-300ER aircraft to transport a cargo of books donated by Scholastic across the Pacific on its delivery flight from Boeing's headquarters at Seattle to Hong Kong. From here, the books will make their way to Room to Read libraries in developing countries throughout Asia. The "Literacy One" flight highlights the opening of Room to Read's 5000th library in November and coincides with the Literacy One Challenge, a year-long effort by students in America and Asia to raise money in support of Room to Read's innovative and award-winning local language publishing programme and its overall mission of providing underprivileged children with an opportunity to gain the lifelong gift of learning. The campaign kicked off in September and will continue throughout the 2007-2008 school year. [ Details ]
Beverages
Swire Beverages China's year-to-date sales volume exceeded the 2006 full year total of 415 million unit cases in September. Strong growth since the second quarter this year has resulted in an overall year-to-date growth of 21% over last year. This result has been driven by continued strong growth of the Sprite and Minute Maid brands, which together make up 50% of the overall mix, ahead of Coca-Cola, which accounts for 30% of total sales.
Swire Coca-Cola USA has added Campbell's vegetable juices to its rapidly expanding still beverages category. Campbell's vegetable-based "better for you" beverage portfolio complements Swire Coca-Cola's existing juice offerings, enabling SCCUS to leverage the brand strengths of Minute Maid, FUZE and V8 to enhance its position in the 100% juice and juice blend categories. New flavours include Campbell's tomato juice, V8 Regular, V8 Spicy Hot, V8 Splash Tropical Blend, V8 Splash Berry Blend and V8 Splash Strawberry Kiwi.
Marine Services
Swire Pacific Offshore Limited's Survey Services Division was formed on 1st August, following the acquisition of the business assets of Salvin Far East. In addition to various ongoing marine seismic logistics contracts, the acquisition means that four newly built vessels will join the SPO fleet. The 3,600BHP Anchor Handling Tug (AHT) Dalini - at the time of the Salvin acquisition working for Talisman offshore Malaysia - has been renamed Pacific Tenacity, while the newly completed 3,600BHP AHT Dalini Diamond has been renamed Pacific Terrier. The 5,000BHP Platform Supply Vessel (PSV) Dalini Emerald is nearing completion and due for delivery around the end of October; this vessel, renamed Pacific Ataawhai, will be converted to a seismic survey vessel. The 5,000BHP PSV Dalini Topaz is meanwhile under construction and due for delivery in May 2008; she will be renamed Pacific Amethyst.
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