20 Dec '11, 3pm

China's HNA Group plans more investments overseas

China's HNA Group plans more investments overseas

BEIJING : China's HNA Group, the parent of Hainan Airlines says it will continue investing overseas next year where it sees opportunities. The comment came as the group completed its acquisition of the world's number five container lessor, GE SeaCo, from General Electric Company for $1.05 billion on Tuesday. China's fourth largest aviation company has grand plans to go international. Despite sluggish growth in developed countries and the depressed shipping market, HNA says demand is growing for high value-added containers such as reefer and tank containers. Adam Tan, Board Director, HNA Group, said: "We still believe that logistics business, the shipping business, the container business will come back. And especially talking about GE SeaCo, the container leasing company, they fulfil the projection and, by end of this year, reach the projection of more than US$140 million p...

Full article: http://www.channelnewsasia.com/stories/corporatenews/view...

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