Hottest outbound M & A activity in China's manufac

2022-09-22
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In the first half of 2012, China's manufacturing industry was active in outbound mergers and acquisitions

in the first half of 2012, China's manufacturing industry was active in outbound mergers and acquisitions

China Construction machinery information

Guide: under the continuous impact of the European debt crisis, foreign manufacturing giants had difficulties in weekly capital transfer and sharp decline in operating performance due to the sharp decline in domestic market demand. Some domestic enterprises have targeted the opportunity to make up for their technical weaknesses through overseas acquisitions. According to the statistics of ChinaVenture investment group, at the beginning of 2012

under the continuous impact of the European debt crisis, foreign manufacturing giants have difficulties in capital turnover and sharp decline in operating performance due to the sharp decline in domestic market demand. Some domestic enterprises have targeted the opportunity to make up for their technical weaknesses through overseas acquisitions. According to the statistics of ChinaVenture investment group, since the beginning of 2012, three large-scale outbound M & A transactions of manufacturing enterprises have been completed, four transactions are in progress, and three transactions are planned to officially launch acquisitions in the near future

judging from the completed transactions, Sichuan auto dealer Bohong invested 1 the website to name Golf corruption at least 61 times With 9.5 billion yuan, Bochum has successfully purchased all the shares of wescast, the world's largest auto parts foundry giant. After the acquisition, Bochum will make use of wescast's international leading R & D strength to fill its own shortcomings. Combined with Bochum's parts manufacturing capacity, it is expected to quickly realize its technology. The most prominent part is to improve the innovation level of ABC column materials and production process, which protect the safety of drivers, when the hydraulic universal testing machine system fails, It has become another classic case of outbound mergers and acquisitions of Chinese private enterprises after Geely's acquisition of Volvo and Lenovo's acquisition of IBM

at the same time, Chinese wind power and machine tool enterprises want to carry out outbound acquisitions in their respective fields. Recently, China Mingyang wind power said that it plans to announce the acquisition of Vestas company of Denmark, which has been the world's largest wind power company for many years, with a transaction amount of about billion euros. According to public data, Vestas in Denmark lost 225million euros before tax in the first quarter of 2012, and Mingyang wind power had a net loss of 18million dollars in the first quarter of this year. Under the background of overcapacity, continuous decline in product prices and development bottlenecks in the domestic wind power industry, Mingyang wind power still chooses to spend a huge amount of money to purchase wind power giants abroad. The other party's leading technology and CDB's M & a financial support are important conditions

on July 6, XCMG machinery successfully acquired the controlling interest of German concrete giant schweiying after the successful acquisition of German FT Company and Dutch AMCA company, with excellent performance price ratio and reliable quality, which also led to the end of the outbound acquisitions of the three giants in China's construction machinery industry. However, according to the financial report data of the three construction machinery enterprises in the first quarter of 2012, the growth rate of revenue and net profit of Sany and Zoomlion has slowed down, and XCMG has shown negative growth; However, the growth rate of accounts receivable of the three enterprises has increased significantly. The accounts receivable of Sany, Zoomlion and XCMG increased by 78%, 77.54% and 35.38% respectively compared with the end of last year (see Table 2). In the context of the slowdown in the growth rate and declining prosperity of the entire construction machinery manufacturing industry, if the enterprises after the acquisition fall into the situation of exchanging high accounts receivable for slow revenue and net profit growth, it should cause widespread concern

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