Goldman Sachs (GS) invested $334 million in Geely Automotive, a China based automobile manufacturer. This investment would give it a 15.1% ownership in the company. The investment is made through GS Capital Partners VI Fund LP, an affiliate of Goldman. Goldman Sachs trades on the New York Stock Exchange.

China XD Plastics Company Ltd., the largest developer, manufacturer and distributor of modified plastics, primarily for automotive applications in China, recently announced that the company’s wholly owned subsidiary, Harbin Xinda Macromolecule Material Company Limited, has entered into a non-exclusive agreement with Changchun Wanbofeng Plastics Company Limited (“Wanbofeng”) to distribute its newly developed carbon fiber reinforced nylon composite product.

Carbon fiber reinforced nylon composite products are mainly used in auto parts and components of mid-class and luxury vehicles. Compared to traditional modified nylon, the company’s new product provides higher performance and is more than 30 percent more cost effective for consumers over imported products. Already certified by the FAW Group Corporation, the largest automobile manufacturer and pioneer of the automobile industry in China, the company expects its carbon fiber reinforced nylon composite products to displace similar imported materials with competitive pricing over imports and offer a higher level of product customization

...

In an odd bit of capitalist irony, the U.S. banking crisis could end up as the catalyst that finally jump-starts the long-moribund market for initial public stock offerings (IPOs). In fact, it already appears to be happening. U.S. banks - under government order to raise capital as a result of the recently completed bank stress tests, and desperate to shed the onerous shackles of the U.S. Treasury Department’s Troubled Assets Relief Program (TARP) - have been announcing billions in secondary stock offerings in recent days, and experts say many more such deals can be expected. Anadarko Petroleum Corp. (NYSE: APC), Bank of America Corp. (NYSE: BAC) and Ford Motor Co. (NYSE: F) yesterday (Tuesday) became the latest U.S. companies to pursue new sources of capital, announcing deals that involved offerings of stock or debt, or outright asset sales. Those announcements ...