On January 31st, Chinese engineering machinery Sany ( 600031, shares ) and China CITIC fund buying is known as "the elephant " called global concrete machinery first brand -- Germany Putzmeister company the equity of 100%, marking the Chinese construction machinery enterprises to set the world on the second wave of construction machinery Annex reorganization prologue.
Acquisition spree
Several years ago, Chinese construction machinery market or caterpillar, Komatsu, Hitachi, Liebherr these international construction machinery giant of the world. They occupied the Chinese construction machinery industry in 90% market share. Nowadays, Chinese construction machinery enterprises not only occupy them in most of China's market share, still aspiring to the global market to launch an attack, deduced one round another round to buy war.
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On January 31st, Chinese engineering machinery Sany ( 600031.SH ) held a press conference to announce, Sany will be a subsidiary of three one German Company Limited ( referred to as the "three one German" ) as the main body, the joint CITIC fund buying is known as "the elephant " called global concrete machinery first brand -- Germany Putzmeister 100% stake in the company. The three one German invested 324000000 euros ( about 2654000000 yuan) acquired 90% stake in CITIC fund, acquired the remaining 10% equity. In this field and caterpillar, Komatsu competition Sany, winner. In June 20th last year, Sany Germany Bader Fort Industrial Park officially opened. Previously, Sany R & D and manufacturing center in the United States have been formally put into production.
It happens that there is a similar case. Also in January 31st this day, Guangxi willow Machinery Company Limited releases announcement to say, willow worker and HSW January 31st in Poland Warsaw signed the" purchase contract" eventually, willow worker $335000000 acquisition of Poland engineering machinery enterprise HSW construction machinery division. This means willow workers this time more than a year of merger was finally settled.
According to media reports, Xugong ( 000425, stock it) has received national hair to change appoint buy" pass", is brewing in Europe's second largest concrete machinery manufacturer -- SCHWING merger.
Prior to the 2008, vanda heavy section ( 000157, shares ) joint venture partners invested 271000000 euros to buy the total global concrete machinery ranks third in the Italy CIFA, where Zoomlion accounted for 60% unit. The recent Shandong heavy Weichai group announced in January this year, with 374000000 euros to obtain a global luxury yacht giants -- Fala Timor Italy group 75% stake. Chinese construction machinery enterprises to accelerate the acquisition of overseas enterprises gradually become the trend.
In overseas, by the end of 2010, caterpillar announced bid $7600000000 M & a world 's largest coal machine manufacturers -- Bucyrus International Inc., completed the caterpillar was founded 85 years the largest M & a cases. At the same time, caterpillar and Komatsu, Liebherr international giants such as has been shifting to China tilt.
Domestic and foreign construction machinery industry adjustment trend appears to be raging like a storm force.
China Opportunities
In 2005, when the three one president to the wave resistance Carlyle acquiring Xugong equity, China Construction machinery industry is still at its early stage of development, the domestic engineering machinery enterprises are very small in size. In recent years Chinese construction machinery market dimensions increases ceaselessly, the rapid development of Chinese construction machinery enterprises.
According to the China Construction Machinery Industry Association data show: Chinese engineering is mechanical 2005 industry sales income 126200000000 yuan, the growth rate of 9.1%; and then, China Construction machinery industry entered a period of rapid development, in 2006 and 2010 5 years, Chinese construction machinery sales income average annual growth of more than 25%, reaching 436700000000 yuan by 2010; 2011, China Construction machinery industry sales are expected to break 500000000000 yuan.
In accordance with the " Twelfth Five-Year Plan", is expected to 2015, China Construction machinery industry sales will reach 900000000000 yuan, an average annual growth rate of about 17%, of which exports 26000000000 dollars. Entire 2015 industry sales and exports are more than doubled that of 2010.
The state of mechanical to the project" 925" development strategy, advance of construction machinery industry in China from a big manufacturing country to a powerful nation transformation, initially formed with international advanced level products, host based technology, the functional components of the R & D and manufacturing system. The main products reached the international advanced level of average technology, implementation of industry of machinery of our country project by extensive model, mimicking the type, amount to science and technology innovation, quality, benefit model change.
In China in the coming 5 years to build 3 or 4 sales reached 100000000000 yuan enterprise groups and 5 ~ 6 50000000000 yuan of class aircraft carrier group, to become well-known international companies. At the same time, the State shall encourage mergers and reorganization of construction machinery industry.
Follow the" Twelfth Five-Year Plan", the domestic large enterprises to seize the development opportunity, increase the pace of expansion, it is reported, Sany and Xugong Group has put forward 2015 sales of 300000000000 yuan of grand target; Zoomlion, ha, Liu and other engineering machinery enterprise in the next 5 years sales target is also expected to be in the hundreds of billions of yuan of the scale. At the appointed time promote the merger and reorganization will be engineering machinery enterprises to accelerate the expansion of shortcuts.
Adfaith management consultant left hung pointed out, if the domestic engineering machinery enterprises in the hope that this industry develops quickly, then the size of the expansion is the inevitable way to. The diversification of products and the industrial chain extension, do not use the merger and reorganization of the way is very difficult to have bigger breakthrough. Now Chinese enterprises have accumulated abundant experience in mergers and acquisitions.
Industry estimates, with the accumulation of technology and brand precipitation multiple advantages, three one, Zoomlion, Xugong, willow worker industry leader 's goals for the next 5 years sales income of the corresponding compound annual growth rate will be in 25% ~ 30%, prep above whole construction machinery industry average growth rate of 8 percentage points above, means that bibcock enterprise market share will significantly enhance the.
" Twelfth Five-Year Plan" period, the fixed assets investment of our country will be in about 20%, for construction machinery enterprises to achieve accelerated expansion to lay the foundation. In recent years, the domestic excess capacity, competitive situation for China Construction machinery enterprises to accelerate the overseas merger and acquisition, to build a world-class enterprise aircraft provides more power.
Come nearly 5 years, our country enterprise to go out of the pace is being accelerated ceaselessly, accumulative overseas direct investment has reached 220000000000 U.S. dollars, the global ranking from eighteenth to fifth. It is 5 years of construction machinery industry to accelerate investment overseas in 5 years, since 2011, many domestic engineering machinery enterprises aim at overseas markets, to accelerate the pace of opening up overseas markets.
The consultant in machinery industry researcher Xie Jiachen think, the three major domestic construction machinery giant market overseas mergers and acquisitions on the development of enterprise itself has the inestimable effect, technology, market, management and other areas have a large increase, but at the same time, overseas investment has its hidden risks, the current major investment styles include merger and acquisition, the local factories etc..
Along with the international market to speed up the pace, the future of the overseas market investment will be accelerated, with international tycoon overseas market segment in the entire market to occupy a larger proportion, the future Chinese construction machinery enterprises to become the international giant, expand the overseas market is inevitable.
Association of industry of Chinese project machinery mining machinery branch secretary-general Li Hongbao thinks, Chinese construction machinery enterprises should learn from Japan through active acquisition or the establishment of production base to realize product localization production, and actively implement the " intellectual property establishs a country" policy, to intellectual output, technology transfer alternative end products output, while promoting engineering machinery key parts and components exports, get profit of high specified number of the development train of thought. Change the copy of light industry of high energy consumption, low price, low profit of the old road, walk out of a technology innovation, build the aircraft carrier Enterprise Merger and reorganization of the new approach
