A Decade of Shanghai Electric's Acquisition of Nedschroef: New Factory Breaks Ground in Tarragona, Spain

Fostering Growth in Automotive Fasteners and Exploring New Industry Horizons

SHANGHAI, Dec. 4, 2024 /PRNewswire/ -- On the 10^th anniversary of its acquisition of Nedschroef, Shanghai Electric (SEHK:2727, SSE:601727) marks a significant milestone with the groundbreaking of Nedschroef's second automotive fastener factory in Spain. Situated in Tarragona, a prominent city in northeastern Spain, this facility underscores Shanghai Electric's commitment to enhancing Nedschroef's capacity to deliver advanced fastening solutions across Europe. The Tarragona factory is a cornerstone of Nedschroef's three-year action plan, poised to optimize production capacity and drive operational efficiency.

Since its acquisition, Nedschroef has solidified its foundation in the automotive components industry. By operating two factories within Spain, Shanghai Electric and Nedschroef demonstrate a well-considered approach to leveraging regional strengths.

Nedschroef has steadily expanded its technological boundaries since acquiring CP Tech seven years ago. This partnership has fueled advancements in high-precision and specialized components designed for unique applications. From hypercar chassis frameworks to landing gear for low-altitude manned aircraft, CP Tech's innovation capabilities are a key enabler of long-term business potential for Nedschroef. The partnership also aligns with Shanghai Electric's broader vision of fostering an ecosystem of collaborative innovation across industries, including automotive, aerospace, and specialized vehicles.

By integrating CP Tech's expertise, Shanghai Electric and Nedschroef are positioned to push the boundaries of component design and production, targeting advanced markets, such as aerospace and special-purpose vehicles. CP Tech's accolades, including certifications for its low-altitude manned aircraft, further highlight the transformative potential of this collaboration.

Shanghai Electric emphasizes creating an open, collaborative space to empower sustainable growth. This vision is realized through:

"CP Tech, located in the heart of Europe, is uniquely positioned to amplify collaboration across Shanghai Electric's business segments. This synergy fosters mutual growth while addressing global market and technological shifts. Together, we will unlock new opportunities and expand our global reach," said Wu Lei, Chairman of Shanghai Electric.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

A Decade of Shanghai Electric's Acquisition of Nedschroef: New Factory Breaks Ground in Tarragona, Spain

BANGKOK, Dec. 4, 2024 /PRNewswire/ -- One Bangkok, the newest neighbourhood in the heart of the city and a global leisure and lifestyle destination, unveils an extraordinary holiday season featuring the landmark opening of The Ritz-Carlton Bangkok alongside an immersive festival of art, retail, and entertainment experiences that promises to redefine the city's cultural landscape.

From November 22, 2024, to January 5, 2025, the Onederous Christmas Celebration transforms the district into a festive wonderland. The centerpiece is a magnificent 28-metre Christmas tree at Pine Pagoda, inspired by Wat Arun Ratchawararam, uniquely blending Thai architectural elements with holiday traditions. Along One Bangkok Boulevard, "Wish Upon a Star" creates a magical pathway with stunning light displays inspired by Thai and Western folktales.

Adding artistic flair to the celebrations, renowned Thai contemporary artist Yoon Phannapast presents 14 enchanting window displays featuring Siamese cats, following her acclaimed works for global brands including Gucci and Nike. The festive atmosphere comes alive with Christmas parades every weekend, Santa meet-and-greets at Parade Square, and a traditional Christmas market spread across One Bangkok Park, Parade Square, and The Storeys Square. Music lovers can enjoy "Onederous Rhythms in the Park," featuring performances by celebrated jazz artists through December 8.

International tourists can explore over 750 shopping and dining destinations with exclusive privileges offering savings up to 70%, including access to King Power City Boutique, downtown's only duty-free retail store. The experience is enhanced by a range of bespoke retail and dining concepts designed to cater to diverse tastes and preferences.

For culture enthusiasts, the newly launched One Bangkok Art Loop presents an innovative 2-kilometer pathway featuring more than 20 permanent installations. This immersive art experience, themed around "coexistence," weaves through 17 hectares of the development, creating a unique blend of public space and artistic expression. The celebration extends into 2025 with special programming planned for Chinese New Year and Songkran festivals.

For more information about One Bangkok's holiday celebrations and tourist privileges, visit the Tourist Information Centre on the fourth floor of the Parade at One Bangkok Retail or www.onebangkok.com/en/.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

One Bangkok Launches Grand Holiday Celebration with Historic Debuts and Festive Spectacle