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Since the decline of the international economic situation, there has been such a voice that it is now a good time for domestic companies to conduct overseas mergers and acquisitions. In fact, many companies do have such an idea.
Therefore, how to guide enterprises to participate in international economic cooperation and competition, has been the focus of business leaders of all walks of life. Not long ago, the “Overseas M&A Strategy Seminar†hosted by the Institute of Economic System and Management of the National Development and Reform Commission and the Academic Committee of the National Development and Reform Commission was held. This meeting chose Beijing First Machine Tool Works Co., Ltd., which was regarded as one of the more than a dozen international M&A projects in China because of the acquisition of the German Coburg case by Beiyi. It seems that these successful overseas mergers and acquisitions have not only formed a good demonstration of the machine tool industry, but also affected other industries.
As the planner and direct participant of these overseas M&A projects in the machine tool industry, Liang Xunyu, honorary chairman of the National Machine Tool Industry Association, is an authoritative person in this field. For the current form, Liang Xunzhen believes that although there are many commonalities in overseas M&A in various industries, the characteristics are different. Therefore, different industries must be treated differently. In many industries, the overseas mergers and acquisitions integration operation of the machine tool industry is a success. It seems that there are some merits for reference.
From the in-depth perspective of industry characteristics, the industry characteristics of the machine tool industry itself have made it easier for the industry to launch overseas acquisitions with more opportunities.
Compared with other industries, the machine tool industry has three characteristics worth noting; the first company is small in scale (taking the international leading machine industry in the machine tool industry as an example, the average number of employees in the enterprise is 127), easy to digest, and the total assets are not too large. Secondly, the nature of family business is the majority, mostly based on technical support, technology accumulation and multi-technology, and international brand strength. Third, most companies are not capital-supported, and their ability to resist financial waves is weak.
In fact, such characteristics are suitable for the "flavors" of Chinese enterprises. Because, the main purpose of China's machine tool enterprises international mergers and acquisitions: First, we seek international brands to improve the international competitive position of products; Second, create and continue to develop international brands to continuously improve international competitiveness; Third, obtain a ready-made international marketing network, borrowing ships to go to sea . The M&A project will then use this M&A project as a springboard and bridgehead to provide international visibility and strengthen international exchanges and integrate into the international cycle. Fourth, improve management and management capabilities. Fifth, cultivate international management technology and technical talents accordingly. . On the contrary, it is especially important to emphasize the overseas mergers and acquisitions of China's machine tool enterprises, not only to pursue the expansion of production capacity, but also to engage in capital operation and simply pursue capital returns.
For the integration with the international community, Liang Xunqi gave an example. Qinchuan Machine Tool has acquired the overseas factory in Detroit, Detroit. It is a densely populated area of ​​machinery manufacturing companies in the United States. Here, machine tool companies have access to the most cutting-edge technical information in many user fields, which is conducive to the development of targeted positioning for more market-value technologies. The broad market prospects are worth exploring. Qinchuan Machine Tool may be looking at this point, after the acquisition of the Detroit company, it also spent $ 2 million to build a sales development company in Detroit.
In addition to the industry characteristics, Liang Xunyi said that the machine tool industry has been leading the overseas acquisition of many industries, and there is another important reason. From the early days of the founding of the People's Republic of China, the machine tool industry has always maintained a relatively close relationship with overseas companies.
From a business perspective, mutual acquisitions are a common phenomenon. However, in the context of the international financial crisis, overseas mergers and acquisitions are setting off a new wave.