Avanceon Ltd partners with Dutch group

KARACHI: Avanceon Ltd stated that Avanceon FZE UAE, its wholly-owned subsidiary, has entered into a partnership agreement with LeekSeek Group BV of Netherlands, a leader in leakage detection and energy-savings solutions.

Additionally, Avanceon would seek to incorporate the activities of LeekSeek within the territory of Middle East, the company said in a statement to the stock exchange on Wednesday. —Correspondent

Executives sceptical over Geely alliance plan

GENEVA: Executives at Daimler and Volvo Cars question the viability and industrial logic of a plan by their major shareholder, China’s Geely, to form an auto industry alliance to counter “tech invaders.”

Li revealed last month he had built up an almost 10 per cent stake in Mercedes-Benz maker Daimler, hoping to access electric and self-driving cars technology as a way to respond to new competitors such as Uber and Google.

But executives at the Geneva auto show from both Daimler and Volvo Cars questioned how a deal could work without compromising their own independence and leadership in key technologies.

Because Zhejiang Geely Holding already owns Volvo Cars, a stake in truckmaker AB Volvo, and 49.9pc of Malaysian automaker Proton, German executives fear any wide-ranging cooperation could strengthen an industry rival.—Reuters

Published in Dawn, March 8th, 2018