But that is not the only investment of the Asian giant in Catalonia. In 2007 the company Blue Star acquired a factory and industrial silicones Mogoda (Vallès Occidental) that had previously been owned by the French Rhone Poulenc. Also in the industrial sector, the company Huayi productive unit acquired Cubigel in Sant Quirze del Valles, for 600,000 euros. The latest operation of importance in this area was the opening by the state company CCIC Group of its first European product inspection and certification laboratory in the Free Zone. Although first of all it will be devoted mainly to the automotive sector, later it will also work with textiles.
IESE professor Pedro Nueno explains that companies from this country are interested in all sectors. They look at acquisitions in the pharmaceutical, automobile and components, power and property sectors,” he says. An investment fund from Hong Kong has, in fact, been involved in operations of importance by buying the former headquarters of Telefonica in la Avenida de Roma.
China’s main food industry group Bright Food acquired Miquel Alimentació for 110 million.
Hutchinson Group has invested 150 million to expand the BEST terminal in Barcelona.
CCIC Group has opened its certification laboratory in the Free Zone.
Huayi has bought Cubigel for 600,000 euros and the headquarters of the party Convergència in Còrsega Street for 56.4 million. There has also been interest in the tourism and gaming sector. One of the operators involved in the BCN World project, for example, is the gaming giant Melco, based in Hong Kong.
Joan Dedéu, president of China Consultant, recognizes the effort made by Catalan companies in China, but says it could still be better. “We must make a thorough presentation, and above all intensive monitoring of projects. And the important thing: do it in Chinese. If these steps are followed, there are many opportunities in this market,” said Mr Dedéu, arguing that Spain is not a very well-known country” in China and recalling that “neither does it have the best image possible”. Even so, he predicts more operations with actors from this country in Catalonia.
Source: El Pais
