PRINT THIS PAGE Carlyle teams up with Shandong Province in China to increase investment in the region14/05/2008. Source: AltAssets. 
The Carlyle Group and the Department of Foreign Trade and Economic Cooperation of Shandong Province (SDFTEC) have entered into a memorandum of understanding to enhance trade co-operation and stimulate investment in the province. As part of the agreement, Carlyle will designate Shandong Province as one of its key investment areas in China. SDFTEC will assist Carlyle by proactively recommending opportunities in Shandong for strategic co-operation and investment, according to a statement. To further the partnership, SDFTEC will help Carlyle build relationships within Shandong, while Carlyle will provide reciprocal support for SDFTEC in the US.
'The development of Shandong Province is of critical importance to China,' said Carlyle co-founder William E Conway, Jr. 'To date, we have made two investments in Shandong, and we are both pleased and proud to strengthen our close relationship with Shandong Province. We look forward to creating value, promoting Shandong Province as a favourable investment destination and developing strong and lasting partnerships with companies and industries in Shandong Province. We will also help leading Shandong companies to expand overseas through investments and partnerships.'
One of Carlyle's investments in Shandong is the joint venture investment by Veyance, one of Carlyle's US portfolio companies, to produce industrial conveyor belts. Veyance was previously a unit of tire manufacturer Goodyear Tire & Rubber. Carlyle has also invested in Qingdao Capland Center, a mixed-use development project, in partnership with a local firm, Capland Property Development Group.
Carlyle invests in buy-outs, venture and growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America.
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