国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

Danone win in Wahaha tussle

By Geoff Dyer (FT.com)
Updated: 2007-06-08 09:48

Danone won a partial victory on Thursday in its dispute with Chinese partner Wahaha when Zong Qinghou, the founder of the Chinese company, resigned as chairman of their soft drinks joint venture.

However, the French group now faces the difficult task of asserting control over the lucrative but troubled joint venture. Zong, a hard-driving entrepreneur, had almost total management control of the business.

The dispute between the two companies is being closely watched by multinationals because it has highlighted many of the cultural differences that are often present in joint ventures in China.

Danone has been in partnership with Wahaha since 1996 and the bottled water they produce together has become one of the most well-known brands in China. With sales of ?bn ($1.4bn) last year, the joint venture accounted for 5-6 per cent of Danone's operating profits and about half of Wahaha's profits.

The French group has accused Zong of setting up a parallel sales company to distribute drinks brands controlled by the joint venture. It has begun legal action against Wahaha in China and requested arbitration in Sweden.

It has also begun a lawsuit in the US, in which it claimed it had been cheated of at least $100m and would continue to suffer losses of ?5m a month unless the court intervened.

Emmanuel Faber, head of Danone's Asia operations, will become interim chairman of the joint venture.

Danone said it was in contact with the local government in Hangzhou, where Wahaha is based, to discuss "management continuity". Wahaha is one of the most successful companies in Hangzhou and Zong is a leading member of the local branch of the Communist Party.

"This is a bit of a hollow victory for Danone," said one Shanghai-based executive familiar with both companies. "It does not really solve any of the problems they have with the joint venture."

In a long personal letter published on Thursday, which included a quotation from Chairman Mao, Zong said he was resigning because of the "humiliation and framing" he had suffered from Danone since the dispute began.

Zong also questioned whether Danone executives would be able to exert control. "It is not an exaggeration to say that they do not know which way the gates of the joint venture companies open," he said.


(For more biz stories, please visit Industry Updates)



灵丘县| 大宁县| 新化县| 武威市| 景宁| 晋州市| 元氏县| 宁晋县| 石林| 普定县| 惠东县| 大田县| 阜城县| 华池县| 罗定市| 公主岭市| 伊金霍洛旗| 泰和县| 固安县| 恭城| 茂名市| 上杭县| 台东县| 耒阳市| 安平县| 铜梁县| 桦川县| 靖边县| 建瓯市| 崇信县| 余干县| 柞水县| 凤台县| 白朗县| 漠河县| 北海市| 天津市| 南雄市| 阜康市| 永吉县| 邵阳市|