|
Shenzhen-based Huawei Technologies Co. Ltd., the country's largest telecom gear maker, has become the biggest winner in a series of big deals signed at a EU-China Summit over the weekend in the Netherlands.
The company has signed an agreement with Dutch mobile operator Telfort BV to supply its third-generation (3G) wireless network.
Although the companies did not disclose any financial details, analysts valued the deal at about 200-400 million euros (US$266-533 million).
Telfort chose Huawei because of the Chinese manufacturer's technological innovation and low prices, said Tonaan de Stegge, CEO of the Dutch company.
"Huawei will give us a much more innovative infrastructure than what the established play-ers are offering," he said.
Another advantage of the deal was that Telfort is Huawei's number one client in Europe, he said.
The deal is Huawei's first major 3G contract in Europe, a market dominated by global giants such as Ericsson, Nokia Corp., Siemens AG, Alcatel SA and Nortel Net-works Corp.
The Chinese manufacturer has constructed 3G networks for Emirates Telecommunications Corp. in United Arab Emirates, SUNDAY Communications Ltd. in Hong Kong, Emtel Ltd. in Mauritius and Telekom Malaysia BHD.
Huawei expects its sales to climb 45 percent to US$5.5 billion this year, with exports doubling to about US$2.2 billion.
In other developments during the summit, Philips and the Science and Technology Commission of Shanghai Municipality signed a letter of intent to establish Philips Innovation Campus Shanghai, in which Philips will invest about 40 million euros a year in research and development.
Shell Exploration Company BV, a unit of Royal Dutch/Shell Group, signed an agreement with the Bureau of Geological Exploration and Mineral Development of Jilin Province to establish a joint venture for oil shale resource studies in the northeastern province.
DSM NV also confirmed its previously announced equity investment in North China Pharmaceutical Group.
(Shenzhen Daily December 13, 2004)
|
