A staff member of a pharmaceutical company assesses the quality of a medical product in Nanjing, east China's Jiangsu Province, June 24, 2019. (Xinhua/Ji Chunpeng)

Pharmaceutical plant

Chinese bio-technology company WuXi Biologics announced an acquisition agreement on Thursday to take over the operations of one of global healthcare giant Bayer's final drug product manufacturing plants in Leverkusen, Germany, said WuXi Biologics in a statement.

"Our business in the EU, US and China market has experienced robust growth in the past few years. This additional drug product plant further confirms our commitment to 'Global Dual Sourcing within WuXi Biologics' strategy. WuXi Biologics will continue to expand our worldwide capacity, providing global partners with a robust and premier-quality supply chain network to benefit patients worldwide," Chris Chen, CEO of WuXi Biologics, said in the statement.

Technical enhancement

Weichai Power Co, a leading Chinese powertrain producer, signed agreements with Germany's ARADEX AG and Austria's VDS Holding GmbH on Wednesday in Jinan, East China's Shandong Province.

Weichai Power acquired an 80-percent stake in ARADEX AG and planned to acquire a 51-percent stake in VDS, making Weichai Power the controlling shareholder of both companies, according to the agreements.

Tan Xuguang, chairman of Weichai Power, said the two acquisitions will effectively improve China's key technical weaknesses related to the electric motor control systems of new-energy powertrains and continuously variable transmission powertrain systems used in agricultural equipment.