Four four small business auto industry may Costly mergers and acquisitions - M & A - Filtration and Separation Industry
21 Century Business Herald reporter Cong Gang The restructuring of detonated across the board
. BAIC's overseas strategy attained, respectively, and Chrysler, Opel, Saab, Volvo, after contact, BAIC not with the company's acquisition of a more substantive negotiations. Currently BAIC acquisition focus has shifted to domestic. In the domestic auto map, BAIC had intensive talks in addition to the welfare of Automobile Group, will also target the Lifan, double loop, ZTE, Gio several other smaller automakers. Focus on mergers and acquisitions of domestic enterprises rush, eager to show big heart BAIC, BAIC because of the time left to really running out?? Development and Reform Commission reiterated that "no longer approve new automobile production capacity," state-owned auto companies only " increase productivity through the restructuring reserve "one way. "A new round of restructuring of the promoter is a policy rather than the government, the authorities this time did not arbitrarily arranged by the business combination in accordance with market mechanism." NDRC official in an interview that. Especially in the Eleventh Five-Year Plan formulated the "one million production target," the car companies are actively looking for "acquisitions and bigger" opportunities. FAW, Beijing Auto, Guangzhou Auto, Chery M & A and restructuring of enterprises such as behind the popular rumor is the capacity of national authorities tighten the power to approve, on a thorough integration of existing production resources and determination. Sources pointed out that the revitalization plan in the designated vehicle "four little four" business, or Costly acquisitions. In April of this year, Guangzhou Automobile, Changfeng opened a new round of restructuring of the prelude to reorganization, FAW, BAIC, Guangzhou Automobile, Chery, JAC and Brilliance restructuring four rumors. "We are the most important thing is to restructure the policy and this is the premise of corporate restructuring, reorganization of contacts between enterprises at this stage we do not have to interfere." Ministry of Industry and Information Technology Director of Automotive Equipment Industry Qian Ming Wah said, "completely re-market behavior." State Department has issued the "auto industry restructuring and revitalization" (referred to as auto rejuvenation program) clearly provides that "the perfect car corporate restructuring policies, the new car manufacturers and other places set up branch, must be present in the automobile production enterprises mergers basis. "This is like a hand, stuck the automobile production capacity expansion of the boom, and will promote the restructuring of the automotive industry play a decisive role. Tightening approval of new power production capacity, our goal is to solve the domestic automobile production capacity and excess capacity of institutions unreasonable ills. Effective capacity planning and ineffective overcapacity According to statistics, China's automobile production in 2008 more than 130 enterprises, sales of top 10 auto manufacturers last year sold 7.8201 million, accounting for 83% of total car sales, and the remaining 100 companies together sales 1.595 million. Of which, nearly 10 car manufacturers in 2007 ~ 2008 is the "zero yield." The other hand, the domestic auto companies had a "great leap forward" type of capacity expansion and planning. Geely annual sales volume in the case of only 200,000, several bases its planning capacity has exceeded two million, BYD announced in 2011 with an annual capacity of 85 million units, Brilliance of the capacity planning has reached 800,000, the joint ventures have also developed plans for expansion will increase. 2008 China's automobile industry's fixed assets investment up to 500 billion yuan, up 18%. On the other hand, in 2007 China's auto industry capacity utilization was only 67%, passenger cars only 63% capacity utilization; 2008 domestic own-brand car company's capacity utilization was only 55%. From international experience, capacity utilization rate of 70% or even 80% can be profitable. This indicates that excess manufacturing capacity in China is a "structural surplus", that is not valid and effective capacity planning overcapacity exist. In April of this year's Shanghai auto show, Miao Wei, vice minister of Ministry of Industry has made it clear that the car will be introduced during mergers and reorganization plan, including speeding up and introduce advance, including automobile manufacturers, including merger and reorganization of policy measures to promote the proper settlement of the surplus production personnel placement, transfer of corporate assets to solve, resolve debt and disposal of other approved areas, and support the automobile production enterprises through mergers and acquisitions to integrate product resources to enhance the competitive ability. Performance pressure "Restructuring policies introduced after the influx of more severe restructuring." A company boss was not without emotion, in the car is not explicitly mentioned in the revitalization plan approved by the new car project, the domestic car companies can only make use of existing resources, to find appropriate restructuring goals, and re-demarcation of the map. Guangzhou Auto was the first "eat crab" business. "Guangzhou Automobile, Changfeng is not restructuring announced a 10 billion package because it contains the project plan, the final cost may be 50 billion." A source told this reporter revealed that it is widely steam there is no way the decision, because Guangzhou Automobile Fiat items ready to fly, have hair, but the new vehicle programs should not be approved, a lot of money can only re-Chang Feng.Four four small business auto industry may Costly mergers and acquisitions - M & A - Filtration and Separation Industry
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