German auto parts maker ElringKlinger has opened a new factory in the northern Chinese city of Changchun, where it will supply plastic housing modules and metal-elastomer gaskets.
Changchun ElringKlinger doubles the company’s production space in Changchun, in Jilin province, and is in response to increased orders from local customers, the Dettingen-based company said.
Changchun is one of China’s automotive centers, and is home to FAW Volkswagen Automotive Company, a joint venture between China’s First Auto Works, Volkswagen, Audi, with capacity for up to 600,000 cars a year.
ElringKlinger said the facility will also make cylinder head and specialty gaskets. It said it has about 300 employees there.
In 2009, ElringKlinger increased its stake in the facility to 88%, taking an additional 10% ownership position from the State Machinery, Electronics, Light and Textile Industry Investment Corporation, a Changchun-based government investment unit.
The company’s engineering plastics subsidiary ElringKlinger Kunststofftechnik subsidiary makes polytetrafluoroethylene gaskets and components.
Changchun has attracted investment from other German plastics firms lately, with automotive parts supplier Huf Group opening an injection molding facility in Changchun in July.
2011年8月1日星期一
2011年5月29日星期日
Nestlé building $30m bottle-to-bottle plant
Nestlé Waters North America plans to build a $30m (€21.3m) bottle-to-bottle PET recycling plant that will produce 40 million pounds (1,800 tonnes) of recycled PET annually.
"I'm hoping that within a year that we've got a plant built," said Kim Jeffery, CEO and president of the water-bottle firm. "I want to be up and running a year from now."
Jeffery said the company isn't prepared to make an official announcement yet; Nestlé and its planned joint venture partner are reviewing details, and both firms must approved the agreement. But he said the plant will "probably be located in the East Coast" and he hopes an announcement will come "relatively soon."
Once built and operating at full capacity, the plant would supply about 10% of the Nestlé's current total PET resin needs — about 440 million pounds (20,000 tonnes) a year.
Despite the troubles that caused Coca-Cola in March to shutter its 2-year-old joint-venture bottle-to-bottle PET recycling plant in South Carolina, Jeffery said he's not worried about a similar scenario down the road for Nestlé.
"They used a different process than we will use," he said in a 13 May phone interview. "Our joint venture company has a proven track record in manufacturing food-grade PET.
"For a PET recycling plant to work, the technology has to be right, the logistics have to be right and you need to be within a reasonable proximity of where your raw materials are," Jeffery said. "And when New York and Connecticut expanded their container bills to include water, we ended up with 40 million pounds of material that we actually own."
Jeffery — a staunch proponent of extended producer responsibility laws to improve the collection of all materials, not just bottles — said Nestlé is building the plant because: "I think there is a real business opportunity in the long-term and I want to understand the value stream."
He added: "The price of [recycled] PET today is 20% more than virgin and there's something wrong with that. If you've already expended the energy to make the bottle once, why would it be 20% more?"
It's Jeffery's view that some of that discrepancy is because PET collection in the US has focused mostly on soft drink bottles, and recently, water bottles, rather than all forms of PET containers and packaging.
"There is more demand than supply because we're only recycling 30% of PET bottles," said Jeffery. "If we are going to be successful in making recycled PET plastic a viable business, we need to be getting back as much material as possible. It is not going to be a viable business long-term if recycled PET is priced 20% higher than virgin.
"We're investing so we can look at the economics," he said. "We want to understand how we make this competitive. ... We need better recycling rates — not just for beverages, but across the board for all PET containers."
The Nestlé CEO said he's not sure if this would be the firm's only, or just its first, foray into producing recycled PET resin.
"Long-term, I'm not sure it's a business we want to be in," he said. "But we want to be in it for now. The question of whether we build more recycling plants has to do with how far back we want to be vertically integrated. We already blow mould our own bottles and make our own preforms."
Jeffery insists Nestlé is not trying to make a statement by building a closed-loop bottle-to-bottle recycling plant.
Nestlé's bottling plant in Pennsylvania, however, which manufactures the firm's Deer Park-brand water bottles from 50% recycled PET, is making a kind of statement — one that the company sees as important, according to Jeffery.
"I'm hoping that within a year that we've got a plant built," said Kim Jeffery, CEO and president of the water-bottle firm. "I want to be up and running a year from now."
Jeffery said the company isn't prepared to make an official announcement yet; Nestlé and its planned joint venture partner are reviewing details, and both firms must approved the agreement. But he said the plant will "probably be located in the East Coast" and he hopes an announcement will come "relatively soon."
Once built and operating at full capacity, the plant would supply about 10% of the Nestlé's current total PET resin needs — about 440 million pounds (20,000 tonnes) a year.
Despite the troubles that caused Coca-Cola in March to shutter its 2-year-old joint-venture bottle-to-bottle PET recycling plant in South Carolina, Jeffery said he's not worried about a similar scenario down the road for Nestlé.
"They used a different process than we will use," he said in a 13 May phone interview. "Our joint venture company has a proven track record in manufacturing food-grade PET.
"For a PET recycling plant to work, the technology has to be right, the logistics have to be right and you need to be within a reasonable proximity of where your raw materials are," Jeffery said. "And when New York and Connecticut expanded their container bills to include water, we ended up with 40 million pounds of material that we actually own."
Jeffery — a staunch proponent of extended producer responsibility laws to improve the collection of all materials, not just bottles — said Nestlé is building the plant because: "I think there is a real business opportunity in the long-term and I want to understand the value stream."
He added: "The price of [recycled] PET today is 20% more than virgin and there's something wrong with that. If you've already expended the energy to make the bottle once, why would it be 20% more?"
It's Jeffery's view that some of that discrepancy is because PET collection in the US has focused mostly on soft drink bottles, and recently, water bottles, rather than all forms of PET containers and packaging.
"There is more demand than supply because we're only recycling 30% of PET bottles," said Jeffery. "If we are going to be successful in making recycled PET plastic a viable business, we need to be getting back as much material as possible. It is not going to be a viable business long-term if recycled PET is priced 20% higher than virgin.
"We're investing so we can look at the economics," he said. "We want to understand how we make this competitive. ... We need better recycling rates — not just for beverages, but across the board for all PET containers."
The Nestlé CEO said he's not sure if this would be the firm's only, or just its first, foray into producing recycled PET resin.
"Long-term, I'm not sure it's a business we want to be in," he said. "But we want to be in it for now. The question of whether we build more recycling plants has to do with how far back we want to be vertically integrated. We already blow mould our own bottles and make our own preforms."
Jeffery insists Nestlé is not trying to make a statement by building a closed-loop bottle-to-bottle recycling plant.
Nestlé's bottling plant in Pennsylvania, however, which manufactures the firm's Deer Park-brand water bottles from 50% recycled PET, is making a kind of statement — one that the company sees as important, according to Jeffery.
2011年5月8日星期日
4 gold traders owe P4.7B, says BIR
The Bureau of Internal Revenue (BIR) has filed tax evasion charges against four gold traders who allegedly owe the government about P4.76 billion in taxes from sales of the precious metal between 2005 and 2009.
Charged were Sylvia Chua Cantoria of Caloocan City, Diomedita Canonigo of Parañaque City, and Ronald Castro and Felonila Caluag, both of Meycauayan, Bulacan.
Castro and Caluag have gold trading businesses based in Marilao, Bulacan; Cantoria in Trece Martires, Cavite; and Canonigo in Talisay, Cebu.
BIR deputy commissioner Estela Sales, head of the agency’s legal and inspection group, said the four traders had engaged in gold transactions with the Bangko Sentral ng Pilipinas (BSP), but failed to file income tax returns for their businesses as well as personal income tax returns.
The BIR based the charges against the four gold traders on the letters of delivery and sales obtained from the BSP that detailed the number of pieces and the weight of the gold that they had sold to the central bank.
Cantoria sold refined gold amounting to P1.04 billion from 2006 to 2008; Canonigo sold P2.55 billion from 2005 and 2009; Caluag, P1.27 billion, also from 2005 to 2009; and Castro, P2.35 billion, also from 2005 to 2009.
72 returns unfiled
According to Sales, Castro, Caluag and Canonigo failed to file 20 tax returns each, and Cantoria 12.
Canonigo’s income tax deficiency, including surcharges and interest, was assessed at P1.65 billion for five taxable years, broken down as follows: P205.28 million in 2005, P353.41 million in 2006, P298.81 million in 2007, P371.95 million in 2008 and P419.66 million in 2009.
Castro allegedly failed to pay P1.56 billion in income taxes for the same period, broken down as follows: P48.70 million in 2005, P359.89 million in 2006, P544 million in 2007, P595.7 million in 2008 and P12.29 million in 2009.
Caluag was assessed P865.15 million from 2005 to 2009, and Cantoria for P683.41 million from 2006 to 2008.
Violations of Tax Code
Canonigo and Castro will each be charged with five counts of attempting to evade or defeat taxes, 15 counts of failure to file quarterly income tax returns (QITRs) and five counts of failure to file annual income tax returns (AITRs)—all violations of Sections 254 and 255 of the Tax Code.
Caluag will be charged with five counts of attempting to evade or defeat taxes, 15 counts of failure to file QITRs, and five counts of failure to file AITRs.
Cantoria will be charged with three counts of attempting to evade or defeat taxes; nine counts of failure to file QITRs, and three counts of failure to file AITRs.
The charges against the four bring to 42 the number of cases filed under the BIR’s Run After Tax Evaders (Rate) program during the incumbency of Commissioner Kim Jacinto-Henares.
Meanwhile, the Bureau of Customs Thursday said it had seized a molding machine and a shipment of tiles and accessories that were allegedly undervalued by their consignees.
Horacio Suansing, deputy customs commissioner for enforcement, said he ordered the confiscation of a plastic injection molding machine that its importer, Columbia Plastic Manufacturing, had allegedly underdeclared as being worth only $16,000, or P720,000.
The BoC valuation and classification division, however, placed its value at between $27,500 and $42,000, Suansing said.
Charged were Sylvia Chua Cantoria of Caloocan City, Diomedita Canonigo of Parañaque City, and Ronald Castro and Felonila Caluag, both of Meycauayan, Bulacan.
Castro and Caluag have gold trading businesses based in Marilao, Bulacan; Cantoria in Trece Martires, Cavite; and Canonigo in Talisay, Cebu.
BIR deputy commissioner Estela Sales, head of the agency’s legal and inspection group, said the four traders had engaged in gold transactions with the Bangko Sentral ng Pilipinas (BSP), but failed to file income tax returns for their businesses as well as personal income tax returns.
The BIR based the charges against the four gold traders on the letters of delivery and sales obtained from the BSP that detailed the number of pieces and the weight of the gold that they had sold to the central bank.
Cantoria sold refined gold amounting to P1.04 billion from 2006 to 2008; Canonigo sold P2.55 billion from 2005 and 2009; Caluag, P1.27 billion, also from 2005 to 2009; and Castro, P2.35 billion, also from 2005 to 2009.
72 returns unfiled
According to Sales, Castro, Caluag and Canonigo failed to file 20 tax returns each, and Cantoria 12.
Canonigo’s income tax deficiency, including surcharges and interest, was assessed at P1.65 billion for five taxable years, broken down as follows: P205.28 million in 2005, P353.41 million in 2006, P298.81 million in 2007, P371.95 million in 2008 and P419.66 million in 2009.
Castro allegedly failed to pay P1.56 billion in income taxes for the same period, broken down as follows: P48.70 million in 2005, P359.89 million in 2006, P544 million in 2007, P595.7 million in 2008 and P12.29 million in 2009.
Caluag was assessed P865.15 million from 2005 to 2009, and Cantoria for P683.41 million from 2006 to 2008.
Violations of Tax Code
Canonigo and Castro will each be charged with five counts of attempting to evade or defeat taxes, 15 counts of failure to file quarterly income tax returns (QITRs) and five counts of failure to file annual income tax returns (AITRs)—all violations of Sections 254 and 255 of the Tax Code.
Caluag will be charged with five counts of attempting to evade or defeat taxes, 15 counts of failure to file QITRs, and five counts of failure to file AITRs.
Cantoria will be charged with three counts of attempting to evade or defeat taxes; nine counts of failure to file QITRs, and three counts of failure to file AITRs.
The charges against the four bring to 42 the number of cases filed under the BIR’s Run After Tax Evaders (Rate) program during the incumbency of Commissioner Kim Jacinto-Henares.
Meanwhile, the Bureau of Customs Thursday said it had seized a molding machine and a shipment of tiles and accessories that were allegedly undervalued by their consignees.
Horacio Suansing, deputy customs commissioner for enforcement, said he ordered the confiscation of a plastic injection molding machine that its importer, Columbia Plastic Manufacturing, had allegedly underdeclared as being worth only $16,000, or P720,000.
The BoC valuation and classification division, however, placed its value at between $27,500 and $42,000, Suansing said.
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