Weichai Power announced on February 23 that it plans to acquire a French company. “This not only responded to the call of the State for the revitalization of the equipment manufacturing industry, but also slowed down the pressure on the appreciation of the renminbi, and improved the current contradictory status of import and export imbalances. Weichai Power’s acquisition plan is to achieve the goal of going global. The most important step is of great significance for China’s equipment manufacturing enterprises to achieve internationalization,†analysts interviewed by the reporter said on the 23rd. Weichai Power has recently been rumors. On February 23, 2009, the company finally clarified that it was unable to release the announcement. For "The company intends to acquire GM's auto parts manufacturing plant in Strasbourg, France" and "The wholly-owned subsidiary Weichai Power International Development Co., Ltd. invests 8 million euros in the Rhone Estuary Province in southern France. The acquisition of the French Baudouin Co., Ltd. "The two rumors, Weichai Power said that it was "partially substantiated." Weichai Power confirmed that through the development of its subsidiary Weichai Power International, Weichai Power won a bid of 2.99 million euros on February 23, 2009, and obtained the assets of the French company Baudouin. The book value of this asset is approximately 13.82 million euros, the relevant transaction is now undergoing administrative approval procedures. A person from the Weichai Power Securities Office said in an interview with reporters yesterday: “We mainly choose companies that are related to the company’s industrial chain to invest, such as automotive parts and components.†On the 23rd, the resumption of trading capacity of Weichai immediately closed the daily limit. In this regard, Ping An Securities analyst Yu Bing said yesterday in an interview with reporters, in addition to the direct connection with overseas acquisitions, but also with the two days of market recovery and industry fundamentals and other related. "Construction machinery may become the next wave of the market leading the gains. Wechat Power's daily limit is also expected." He further explained that the reason why construction machinery may be the next wave of market-led growth, mainly the country recently introduced some policies that are conducive to the development of the industry. Premier Wen Jiabao presided over the executive meeting of the State Council on February 4, 2009, and reviewed and in principle passed the adjustment plan for the textile industry and equipment manufacturing industry. The meeting mentioned that it is necessary to combine the key projects of the large industries such as steel, automobiles, and textiles to promote the autonomy of equipment. In addition, in response to the domestic enterprises going abroad, Deng Xianhong, deputy director of the State Administration of Foreign Exchange, stated for the first time at a press conference held on February 18 that in the next step, China should use its advantages of having more foreign exchange reserves and take various measures to support domestic Businesses go out. Some experts believe that when companies go out, they can avoid foreign exchange risks and at the same time they are an important means to obtain key resources. More experts have suggested that, in order to encourage more overseas mergers and acquisitions, it may consider using foreign exchange reserves to increase support for key enterprises in the form of capital injection. An industry insider interviewed by the reporter on the 23rd said that Weichai Power's overseas acquisition plan was to respond to the call of the Central Government and to purchase quality assets overseas; on the other hand, it also reduced the pressure for RMB appreciation. Appropriately reduce domestic foreign exchange reserves and improve the current status of imbalances in imports and exports. In addition, the person said that for the company's own large-scale and strong, acquisition of foreign companies is an important step for Weichai Power to go abroad. This is of great significance for China's equipment manufacturing enterprises to achieve internationalization. Of course, although Chinese companies go out to get support from national policies, the risks involved cannot be ignored in the plan for going global. Peng Yu, an analyst at New Era Securities Automotive Industry, said in an interview with reporters yesterday that companies’ overseas investment purposes are nothing more than to obtain advanced overseas technology or to obtain overseas suppliers. But overall, looking at examples of overseas acquisitions in the past, there are few successful cases, and there are great risks in terms of operations and management after the acquisition. Some joint ventures such as Mercedes-Benz and Volvo’s joint ventures in China have all ended in failure. Therefore, overseas acquisitions need to be treated with caution. Peng Yu said that the overseas acquisition of Weichai Power is relatively small and the risk factor is relatively small. Why did you choose a small company in France and did not choose other large companies? For the sake of risk, a tentative investment is made first, and even if there is a loss, it is controllable. Moreover, in terms of technology, diesel engines in the domestic automotive industry have become more advanced. Without considering the introduction of advanced technologies, Weichai Power may see that the prices of foreign machines are relatively cheap. Yu Bing also said that Weichai Power chose overseas acquisitions at this time, mainly around its main engine, in order to introduce advanced foreign technologies. However, it can be seen that the acquisition target is relatively small. Therefore, for the company's overall technology and revenue, there should be no impact in the short term. This acquisition is actually preparing for long-term profit. A senior analyst at Hongyuan Securities said in an interview with reporters that the overseas acquisition of domestic companies must be viewed with a critical attitude. Due to the sound legal system in foreign countries and the powerful power of the trade unions, the social cost of workers is relatively high for Chinese companies. In fact, the capital of Chinese enterprises is not a problem. The key lies in the existence of various domestic and foreign differences. “Is the ultimate success of the operation and whether the overseas assets are really bottomed out? These issues must be considered by domestic companies before they decide to acquire overseas.†There are many construction tools for epoxy bai floor paint. Roller For Epoxy Floor Paint,Epoxy Floor Coating Tools,Epoxy Floor Paint Roller,Roller For Floor Paint Eternity International Trading Co;Ltd , https://www.e-tygroup.com
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