While the global financial crisis triggered many automakers in Europe and the United States to announce the suspension of production and production cuts, the domestic auto parts manufacturers hidden behind the vehicle manufacturing industry are secretly carrying on the verge of closure of auto parts processing plants. Wait for the opportunity at any time and start the acquisition.
This weekend, Liao Zeyi, general manager of Shanghai Dongfu Cold Forging Manufacturing Co., Ltd., a domestic auto parts manufacturer, will travel to France and the United States to conduct market surveys on some locally closed automotive processing plants. “Once the local area does have a good factory, Do not rule out the possibility of acquisition."
Dong Jianping, deputy secretary-general of the China Association of Automobile Manufacturers, accepted an interview with this reporter and suggested that domestic auto parts companies may take this opportunity to go overseas to “buy†the acquisition. However, he also reminded those parts manufacturers who want to make overseas acquisitions, “In comparison, they should pay more attention to these foreign parts manufacturers’ core technologies or acquisition opportunities for R&D projects.â€
Domestic companies or hunters
On October 14, German Daimler Automotive Company, the world's largest truck manufacturer, announced that due to the severe sales situation, the company will abandon one of its truck brands in March next year and close two factories in Canada and the United States. On the 24th, the company announced again that it would suspend production for three months starting from December.
In the following days, more automakers began to join the production cuts and production cuts.
"The news that automakers in Europe and America have stopped production or cut production may be a good thing for China, because some parts manufacturers can take this opportunity to go overseas and make bail-outs for companies that are on the brink of bankruptcy." Deputy Secretary-General, China Association of Automobile Manufacturers Dong Jianping said in an interview with this reporter.
In March this year, Ningbo Huaxiang, a well-known company in the industry, announced that it will start a global strategic plan by the end of this year and continue to promote the acquisition and merger of foreign companies. While laying out the European and American markets as quickly as possible, the company will use its advantages in China to steadily expand the Asian market, and ultimately achieve the global layout of R&D, market and production of the three major automobile centers in Asia, Europe and the Americas.
However, there are also many people in the industry who worry that the overseas acquisition of domestic companies may also end up with the result that there is no core technology, management, and dissatisfaction. In response, Dong Jianping stated that Chinese companies do not necessarily have to acquire the industrial assets of these European and American manufacturers. "If domestic companies have the financial strength, it is better to take this opportunity to acquire core technology or carry out research and development cooperation in Europe and the United States."
This weekend, Liao Zeyi will first go to France to conduct a short-term auto parts factory market survey, and then switch to the United States. “Once we find a high-quality auto parts processing plant, we will consider buying one or two,†but whether it is the purchase of industrial assets or the purchase of the corresponding core technology, the other said that for the sake of caution, there is currently no conclusive statement.
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China will become an OEM gathering place
In 2008, a statistic from the China Association of Automobile Manufacturers showed that with the development of global economic integration, especially after China's accession to the WTO, the domestic automobile market industry is becoming increasingly global. Among them, as the basis of the automotive industry, the parts and components industry grew at a compound annual growth rate of 31% from 2004 to 2007. In 2007, it achieved an industry average net profit rate of 7%, while the average profit of the Chinese auto manufacturing industry The rate is 4.5%. By 2010, the domestic output value of China's auto parts will exceed 1 trillion yuan.
The reporter learned from the China Association of Automobile Manufacturers that, under the pressure of cost, some of the larger OEMs in foreign countries will relocate R&D and production to low-cost countries such as India, China, and Eastern Europe in the next few years. Among them, China will become an important choice for foreign R&D centers. It is estimated that in 2015, the investment in offshore engineering development projects worldwide will increase from 600 million euros in 2005 to 4.5 billion euros.
Liao Zexi told reporters that it is based on the international auto industry began to implement parts and components "global procurement" strategy and international multinational auto companies to implement the localization strategy, the world's largest manufacturer of automotive safety products - Sweden Austria Atelier company recently signed with the company A total of more than 10 million car airbag parts list. Previously, this order has been monopolized by local producers in North America and Europe.
The official news of the Swedish government's Investment Promotion Agency stated on October 24 that by the end of this century, ATOLF will move more production lines from Europe and North America to low-cost countries including China, including Vietnam, India, and Eastern Europe. It will increase from the current 20% to 50%.
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