"Affected by the economic crisis, some equipment manufacturing enterprises in Europe and the United States have encountered operational difficulties, which has brought opportunities for cross-border mergers and acquisitions to China's machine tool enterprises." Recently, Liang Xun, honorary president of China Machine Tool Industry Association, accepted China Industrial News. The reporter said in an interview.
Price decline
Feng Yi, deputy general manager of General Technology Europe Demas Co., Ltd. also expressed the same view. The financial turmoil in the United States has created conditions for Chinese machine tool companies to go overseas. Some world-class companies have become targets for investment or mergers and acquisitions.
He told reporters that the German car manufacturing leader - Emma is currently operating difficulties. Its core technology is to provide high-speed, high-precision, mass-produced flexible processing systems for the automotive manufacturing industry. At present, the asset price of the company has declined, which is a good opportunity for acquisition.
In addition, Germany Green, a leading company in the field of high-end and high-precision aircraft models, applied for bankruptcy protection in December last year. The high-end model aircraft technology they own is not yet in the hands of Chinese companies. In addition to the production of aircraft models, the company also holds the high-end CNC system technology of machine tools. It is also due to the financial turmoil that the market value of the company has decreased, creating opportunities for Chinese companies to cooperate with it.
Like Demas, many powerful machine tool companies in China have begun to look more into overseas markets, hoping to take advantage of this opportunity to enter overseas markets on dips.
Liang Xun said that most of the machine tool companies in Europe and America are family-owned enterprises. About 50% of the machine tool manufacturers are only forty or fifty people, and there are only a handful of companies with more than 1,000 people. These companies are small in scale and have weak risk-taking ability. In addition, they are mostly technology-supported enterprises rather than capital-supported. Therefore, in the event of a financial crisis, financing problems are most likely to cause enterprises to be in trouble. This feature is very suitable for Chinese machine tool enterprises to acquire and acquire foreign machine tool enterprises with high machine tool manufacturing technology and better brand under relatively low price conditions.
"In addition, the founders of these family businesses are already very old, facing an important turning point in the choice of successors. It is a good time for Chinese companies to choose mergers and acquisitions at this time." Liang said.
Bottom-cut needs rationality
It is undeniable that under the influence of the financial turmoil, the asset prices of machine tool enterprises in Europe and the United States are decreasing, creating a favorable situation for Chinese companies to acquire overseas markets. However, some industry experts said that it is in this situation that we need to remain calm, not only to look at the purchase price, but to pay more attention to its core values. The value of high-end equipment manufacturing companies is usually determined by their position in the industry, research and development capabilities, competitive strength, brand status, quality and stability of core personnel, relationships with high-end customers, and important suppliers. Relationships, and the position and role of the industry chain in the world.
Liang Xun told reporters that a machine tool company in China had accepted the advice of an investment group in Indonesia to jointly acquire a CNC system manufacturing company in the United States. Due to lack of experience, detailed investigations were not carried out. Afterwards, it was learned that the British personnel who had mastered the key technologies of the merged companies left the company, which led to the acquisition of hardware such as factories and equipment, and did not obtain the most needed technology.
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