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1+1> 2 overseas M & A of equipment manufacturing enterprises should be tailored

the financial crisis caused by the financial tsunami is still spreading to the global real economy. Compared with developing countries, some European equipment manufacturing industries that have entered the mature stage suffer more obvious damage. In view of the desire of domestic enterprises for cross-border M & A, industry experts have suggested that enterprises should be cautious in overseas bottom reading

then, when will the bottom be reached and how will the opportunity be grasped? To overcome the technical bottleneck of bio based chemical fiber and raw material industrialization; What lessons should be done in advance to break through the industrialized preparation technology of bio based synthetic fiber raw materials and how to deal with the challenges? Recently, a seminar on cross-border mergers and acquisitions in China's equipment manufacturing industry was held in Beijing, which was jointly sponsored by the China Federation of industrial economics, China General Technology Group Corporation and China industry news, and jointly organized by General Technology Europe Demas Co., Ltd. and equipment manufacturing magazine. The above issues were discussed

chenquansheng, counsellor of the State Council, reminded enterprises that overseas mergers and acquisitions should be tailored. Enterprises with certain strength can merge and acquire foreign enterprises. Enterprises with incomplete conditions should pay attention to introducing and mastering high-tech talents; It is not necessary to acquire industry leaders, but to pay attention to the potential of the acquired enterprises; Don't think too much about the price of the enterprise, but whether it conforms to its own development strategy. If the two match, it will achieve the effect of 1+1> 2. On the contrary, even if the purchase price is at the bottom, it will eventually become a burden; The "going out" of Chinese enterprises should focus on coordinated operations

overseas M & A can obtain high-end technology sources

the so-called "know yourself and know your enemy, and you will never be defeated in a hundred battles". As a representative of a service institution with rich experience in cross-border M & A, Fengyi, deputy general manager of General Technology Europe Demas Co., Ltd., analyzed the opportunities and challenges for participating enterprises to invest in European equipment manufacturing industry

due to the impact of the financial crisis, the asset pricing of foreign enterprises has decreased, and some world-class enterprises have become investment or M & A targets. The international political and economic environment is generally favorable for Chinese enterprises to implement the "going out" strategy

at present, the basic conditions for Chinese equipment manufacturing enterprises to invest abroad include: through the accumulation of 30 years of reform and opening up, the rapid growth of the industry in recent ten years, and China's equipment manufacturing industry has the ability to design and manufacture mid-range products; Some Chinese enterprises have been among the best in the domestic market segment, and their market position has been gradually consolidated; China has a large domestic market, and the Chinese government encourages competent enterprises to acquire foreign enterprises

however, in the field of high-end equipment manufacturing, most Chinese enterprises lack or do not have the right to price their products; In the integration of industrial chain, most Chinese enterprises lack or have no initiative; Participating in the global industrial division, most Chinese enterprises have not yet completed the transformation from the chosen to the chosen

strategic planning should be guided by scientific operation.

in fact, the acquisition of overseas enterprises is a very challenging system engineering. Moreover, investment and M & A of overseas high-end technology source enterprises need good strategic planning, scientific operation, and the courage and passion of entrepreneurs

in order to prove the importance of full preparation, liangxunxi, honorary president of China Machine Tool Industry Association, cited the failure cases of Miss Ying Ying and miss Chai Zhangfan in China's machine tool industry enterprises in international mergers and acquisitions to improve production efficiency

in the early 1980s, Chinese machine tool enterprises accepted the proposal of an Indonesian investment group to jointly acquire an American CNC system manufacturer. Due to lack of experience, no detailed due diligence was conducted. After the M & A was completed, the British personnel who mastered the key technologies of the merged enterprise left, resulting in the M & A only purchased hardware such as plant and equipment, and did not obtain the most needed technology

Liang xunxi pointed out that the basic conditions for international M & A in China's machine tool industry are as follows: first, the support of the government and relevant banks; Second, the ability of enterprises and industries to identify and select the technical value and operating status of M & A projects; Third, rely on the strength of international professional teams to evaluate the tangible and intangible assets of the M & A objects, including the evaluation of the operating conditions and expectations in recent years, and make a detailed and serious review and assessment of the current situation and potential problems such as debt, labor relations, legal affairs and environmental protection, so as to carry out effective due diligence; Fourth, the operation and management ability of our enterprise after M & A

according to the problems encountered by enterprises in cross-border mergers and acquisitions in the past, Feng Yi introduced some practical experiences for Chinese enterprises to "go global": do a good job in strategic design; The implementation of the strategy should be firm; Select appropriate contact and communication methods; Understand the core value of the investee; Understand the needs of the investee; Professional due diligence; Have acquisition plan and implementation plan; Have a business plan and employ a professional team; Conduct adequate risk assessment

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