Due to the national macroeconomic regulation and control of continuous in-depth project back, which caused by the raw material and labor costs rise, factors such as lack of core technology, combined with a wave of world famous engineering machinery enterprises to break into the Chinese market is still growing, China's construction machinery market "inflection point" seems to have got the basic identity of the industry. And sany heavy industry co., LTD., to Germany for Portsmouth meister companies for the industry to realize that China machinery enterprise series of overseas mergers and acquisitions to speed up its internationalization process, and relieve the pressure on the domestic market fall.
"18 years of secret love, lightning marriages overnight." This is the description of sany's acquisition of putzmeister.
Putzmeister, known as the "elephant" in the global engineering machinery industry, is one of the world's best-known engineering machinery makers. In the concrete pump truck manufacturing field, the enterprise market share has long been the world's first. The acquisition comes a month after sany and the elephant also launched a fierce bidding war in India.
"Less than four weeks ago, I received a letter from Mr. Liang, chairman of sany, and within hours we had agreed to give the elephant to sany." "Said KarlSchlecht, the founder of putzmeister. The "wedding" tokens that were exchanged at the time were the wristwatches they wore.
Since then, on January 31, 2012 in the afternoon, the trinity of sany heavy industry announced its German company hand in hand to citic industrial investment fund (Hong Kong) consulting co., LTD (hereinafter referred to as "citic fund") paid 360 million euros for the German Portsmouth meister 100% stake, which sany Germany company purchase 90%, citic fund acquisition of 10%.
In fact, sany's acquisition of putzmeister is just one of the three major acquisitions of Chinese engineering machinery. After the third of the world's concrete machinery enterprises - CIFA Italian company acquired by changsha zoomlion heavy industry science and technology development co., LTD., and xugong group is currently in a tense planning concrete machinery enterprises ranked second in Europe Germany bastian schweinsteiger for acquisition of the company.
For the first time in the history of German business, Chinese companies have gobbled up important German technology leaders. Chinese companies are looking for acquisitions in Europe in an effort to gain access to technology and market opportunities, the paper said on January 31.
2012 Chinese enterprises overseas "bottom" impulse will be activated again, energy and mining industry is expected to still be the main domain, and high-tech, clean technology companies and the well-known overseas companies will also be targets. Experts point out that the popularity of China's m&a market is the result of a combination of positive factors. The introduction of new m&a policies, such as foreign mergers and acquisitions and major asset reorganization, has played a good role in regulating and guiding China's m&a market.
However, critics believe that sany this acquisition will need to get the national development and reform commission, the ministry of commerce, the state administration of foreign exchange and other department's approval, even may also involve the approval of relevant government and institutions abroad. Whether it can be completed smoothly, there is uncertainty.
Compared with overseas mergers and acquisitions, the cold in the domestic market is a reality that China's engineering machinery industry must face.
Influenced by multiple factors, engineering and construction market in a shrinking in 2011, construction machinery industry is also in the last 10 years of rapid development, into the development stage of the slowdown in along north-south thing all the construction site of engineering mechanical cars also early in winter.
In the past 10 years, China's construction machinery market has been developing at an amazing speed, and this decade has been hailed as the "golden decade" of construction machinery by Chinese people. The total output value of China's machinery industry increased from 1.69 trillion yuan in 2001 to 14.38 trillion yuan in 2010, with an average annual growth rate of 23.86%. In 2009, China's machinery industry surpassed Japan and the United States to become the world's largest machine manufacturer by sales of $1.5 trillion.
That growth came to an abrupt end in 2011. In the first quarter of 2011, the sales figures continued to increase under the high thermal inertia of the construction machinery market in 2010. In April, the market was lower, with a sharp drop in year-on-year growth, and the market has been in a low position since then.
Qi jun, President of the China construction machinery industry association, once analyzed that, in general, sales in the construction machinery industry have a low season and peak season, and the slight decline in sales volume in April is a normal seasonal fluctuation. But a 30 per cent drop in the entire industry in April 2011 was indeed rare. The main reason is that the overdraft of early sales and the state macroeconomic regulation have led to the decline of market demand.
And QiJun pointed out to forecast movements in 2012, at the same time, domestically, as part of the economic stimulus policy of phasing out and implement a proactive fiscal policy and prudent monetary policy and a series of macroeconomic regulation and control continues, the influence of the national macroeconomic policy turning point has yet to be observed, China's construction machinery industry related products production and sales slowed also need a longer process rational regression.
With the domestic market depressed, the overseas market layout seems to be a necessary choice. For companies such as sany, the stakes are not in the company itself, but in the global market system behind it.
According to the data, putzmeister had a 60% market share in the world pump market in 2010, and its market share in the pump market increased to 30%, and it sold about 1,500 units a year in India. Through the acquisition, sany found a door to the wealth of "overseas nuggets" from the us, Europe and India. Previously, Chinese engineering machinery products in North America, Japan, Europe, India had very low occupancy.
More than 80 per cent of putzmeister's sales come from outside China. After the acquisition, sany will receive a global distribution and after-sales service for "elephants".
Another representative company is shandong lingong engineering machinery co. LTD. In 2011, shandong's sales revenue exceeded 10 billion yuan for the first time, and that number will be raised to 20 billion yuan in 2012.
At the beginning of the year of a new generation of energy-saving products listed conference, which makes the general manager in Meng Sheng stressed that although the domestic construction machinery industry situation is not particularly optimistic, but the position of sales revenue in 2012 breakthrough 20 billion yuan is not too big problem. That confidence comes from confidence in overseas markets. He said: "although the market affected by the subprime crisis, but the whole, the development of the 'brics countries have great advantages, which makes can make full use of Volvo (parent company) makes the existing international sales channels, and implement a sharp rise in the number of overseas orders."
It is unrealistic to rely on the domestic market to absorb the increasing production capacity, and Chinese construction machinery enterprises must go out and make breakthroughs in foreign markets. To go out and, of course, not just for the sake of digestive capacity, from the industry development trend and grows when Chinese enterprises and competition power, to participate in global competition is a choice of the development of domestic enterprises.