Recently, according to media reports, XCMG is in talks with German-based Schwing, a well-known construction machinery company. An executive from XCMG declined to interview because “there is no more details to disclose.†It is widely believed in the industry that if XCMG succeeds in acquiring Schwing, the world of concrete machinery will present the situation of “three countries will standâ€.
The acquisition of brewing in the field of construction machinery, Xugong's advantage is the field of cranes and road machinery. In these two markets, XCMG occupies half of the domestic market share, but concrete machinery is the weakness of XCMG, and the market size of concrete machinery in China is as high as 100 billion yuan, accounting for nearly 20% of the domestic construction machinery market.
More importantly, the average profit of the concrete machinery industry far exceeds the average profit rate of the domestic construction machinery industry. Last year it reached more than 30%. Sany Heavy Industry and Zoomlion used to be the largest market share in the domestic concrete machinery market last year in concrete machinery. The market is full of profits. It is reported that last year, Sany Heavy Industry sales of concrete machinery business reached 32 billion yuan, Zoomlion concrete machinery business operating income was as high as 21.213 billion yuan, while Xugong's concrete machinery revenue in the first half of last year was only 1.147 billion yuan, accounting for the total The ratio is only 5.88%.
In addition to the above three, major domestic construction machinery companies, such as Shantui, Liugong and Xiagong, have invested in factories or acquisitions to enter the concrete machinery industry. They have used their own brand and channel advantages to develop concrete machinery brand products, which means that domestic Xugong's market has been very limited.
In order to promote the development of Xugong in the concrete machinery market, last year Xugong established a concrete construction machinery industry base and a concrete mixing machinery industry base, and expanded the concrete machinery to the entire industrial chain. Although the scale effect of XCMG's concrete machinery industry has brought about a continuous increase in its profitability, Sany Heavy Industry and CITIC Industrial Fund have acquired 100% of the world's first brand of concrete machinery, the German Putzmeister Holding Co., Ltd. In 2008, Lianzhong Branch acquired a 60% stake in CIFA Italy, the world’s third-ranked concrete machinery manufacturer, which further widened the gap between the two giants and Xugong.
Sany Heavy Industry President Xiang Wenbo believes that Sany’s acquisition of Putzmeister will have its mature sales system all over the world and, more importantly, its strong R&D and technical strength. This acquisition cannot be measured by money and is a strategic investment. Through this M&A, the competitive landscape in the world of concrete will be changed, and the goal of Sany Internationalization will be realized in 5 to 10 years in advance.
Some industry experts believe that Sany Heavy Industry and Zoomlion have become duopoly in domestic and international concrete machinery fields through overseas acquisitions in recent years. If XCMG can acquire the world’s second-ranked German veteran concrete machinery manufacturer Shi Weiying in the field of world concrete machinery, it will rapidly narrow the huge gap between the former two.
It is reported that Shi Weiying, as a world-renowned manufacturer of concrete machinery, ranked 38th in terms of global sales of construction machinery last year, second only to Germany's Putzmeister and Bauer Group. Compared with other large-scale concrete machinery giants in the world, Schweing’s product line is the most complete. The pumping and mobile mixing plant industry of Schwing company is exactly what Xugong lacks. Schweing’s “skirt valve†patent technology can be used with Putz. Meister's "S valve" patent technology is comparable.
Internationalization strategy industry experts believe that the domestic construction machinery industry conservative estimates will continue at least 10 to 20 years of high-speed growth period, even if there will not be the kind of explosive growth in previous years, but about 30% growth The rate should probably continue to be maintained. Especially in emerging countries, the market will become an important growth point for the construction machinery industry. Accelerating the pace of internationalization will be the only way for China's construction machinery companies to grow.
According to the data from the China Construction Machinery Industry Association, China’s construction machinery industry’s sales revenue in 2005 was only 126.2 billion yuan, a growth rate of 9.1%. Then, China's construction machinery industry entered a period of rapid development. In the five years from 2006 to 2010, China's construction machinery sales revenue grew at an average annual rate of more than 25% and reached 446.7 billion yuan by 2010. In 2011, the sales volume of China's construction machinery industry is expected to exceed 500 billion yuan.
According to the “Twelfth Five-Year Planâ€, it is expected that the sales volume of China's construction machinery industry will reach 900 billion yuan by 2015, with an average annual growth rate of approximately 17%, of which approximately 26 billion US dollars will be exported. In 2015, the industry’s sales revenue and exports both more than doubled over 2010. In the next five years, China will create 3 to 4 enterprise groups with sales of 100 billion yuan and 5 to 6 groups of 50 billion yuan, making it an aircraft carrier-known international company.
To this end, Xugong and Sany Heavy Industry have proposed the 2015 goal of sales of 300 billion yuan, the force of concrete machinery will be the focus of Xugong, one of the most important shortcut is the acquisition of overseas.
In the global financial crisis of 2008, Schwinging and Putzmeister were hit as hard as ever, and the days were getting more and more sad. In 2008 Schweing’s sales revenue was about 1 billion euros, and in 2010 it dropped to about 400 million euros. Schwinging provided an excellent opportunity for XCMG’s acquisition.
If Xugong successfully acquires Schwing, in the Chinese market, XCMG can help Schwing to expand its product line. With the help of XCMG's global procurement network, Schwing can reduce production costs. Xugong’s goal of completing 300 billion yuan will also be just around the corner.
According to Xugong Machinery's disclosure on the evening of March 20, unaudited 2011 annual performance report, the net profit attributable to shareholders of listed companies during the period was 3.379 billion yuan, an increase of 15.12% over the same period of last year (adjusted); basic earnings per share 1.64 Yuan and Express reported that Xugong Machinery recorded a total operating revenue of 32.971 billion yuan, a year-on-year increase of 28.03%. This also means that XCMG’s acquisition of Schwing is not a big problem in funding. In order to promote the internationalization strategy, Xugong’s large-scale overseas acquisitions will also accelerate in the future.
The acquisition of brewing in the field of construction machinery, Xugong's advantage is the field of cranes and road machinery. In these two markets, XCMG occupies half of the domestic market share, but concrete machinery is the weakness of XCMG, and the market size of concrete machinery in China is as high as 100 billion yuan, accounting for nearly 20% of the domestic construction machinery market.
More importantly, the average profit of the concrete machinery industry far exceeds the average profit rate of the domestic construction machinery industry. Last year it reached more than 30%. Sany Heavy Industry and Zoomlion used to be the largest market share in the domestic concrete machinery market last year in concrete machinery. The market is full of profits. It is reported that last year, Sany Heavy Industry sales of concrete machinery business reached 32 billion yuan, Zoomlion concrete machinery business operating income was as high as 21.213 billion yuan, while Xugong's concrete machinery revenue in the first half of last year was only 1.147 billion yuan, accounting for the total The ratio is only 5.88%.
In addition to the above three, major domestic construction machinery companies, such as Shantui, Liugong and Xiagong, have invested in factories or acquisitions to enter the concrete machinery industry. They have used their own brand and channel advantages to develop concrete machinery brand products, which means that domestic Xugong's market has been very limited.
In order to promote the development of Xugong in the concrete machinery market, last year Xugong established a concrete construction machinery industry base and a concrete mixing machinery industry base, and expanded the concrete machinery to the entire industrial chain. Although the scale effect of XCMG's concrete machinery industry has brought about a continuous increase in its profitability, Sany Heavy Industry and CITIC Industrial Fund have acquired 100% of the world's first brand of concrete machinery, the German Putzmeister Holding Co., Ltd. In 2008, Lianzhong Branch acquired a 60% stake in CIFA Italy, the world’s third-ranked concrete machinery manufacturer, which further widened the gap between the two giants and Xugong.
Sany Heavy Industry President Xiang Wenbo believes that Sany’s acquisition of Putzmeister will have its mature sales system all over the world and, more importantly, its strong R&D and technical strength. This acquisition cannot be measured by money and is a strategic investment. Through this M&A, the competitive landscape in the world of concrete will be changed, and the goal of Sany Internationalization will be realized in 5 to 10 years in advance.
Some industry experts believe that Sany Heavy Industry and Zoomlion have become duopoly in domestic and international concrete machinery fields through overseas acquisitions in recent years. If XCMG can acquire the world’s second-ranked German veteran concrete machinery manufacturer Shi Weiying in the field of world concrete machinery, it will rapidly narrow the huge gap between the former two.
It is reported that Shi Weiying, as a world-renowned manufacturer of concrete machinery, ranked 38th in terms of global sales of construction machinery last year, second only to Germany's Putzmeister and Bauer Group. Compared with other large-scale concrete machinery giants in the world, Schweing’s product line is the most complete. The pumping and mobile mixing plant industry of Schwing company is exactly what Xugong lacks. Schweing’s “skirt valve†patent technology can be used with Putz. Meister's "S valve" patent technology is comparable.
Internationalization strategy industry experts believe that the domestic construction machinery industry conservative estimates will continue at least 10 to 20 years of high-speed growth period, even if there will not be the kind of explosive growth in previous years, but about 30% growth The rate should probably continue to be maintained. Especially in emerging countries, the market will become an important growth point for the construction machinery industry. Accelerating the pace of internationalization will be the only way for China's construction machinery companies to grow.
According to the data from the China Construction Machinery Industry Association, China’s construction machinery industry’s sales revenue in 2005 was only 126.2 billion yuan, a growth rate of 9.1%. Then, China's construction machinery industry entered a period of rapid development. In the five years from 2006 to 2010, China's construction machinery sales revenue grew at an average annual rate of more than 25% and reached 446.7 billion yuan by 2010. In 2011, the sales volume of China's construction machinery industry is expected to exceed 500 billion yuan.
According to the “Twelfth Five-Year Planâ€, it is expected that the sales volume of China's construction machinery industry will reach 900 billion yuan by 2015, with an average annual growth rate of approximately 17%, of which approximately 26 billion US dollars will be exported. In 2015, the industry’s sales revenue and exports both more than doubled over 2010. In the next five years, China will create 3 to 4 enterprise groups with sales of 100 billion yuan and 5 to 6 groups of 50 billion yuan, making it an aircraft carrier-known international company.
To this end, Xugong and Sany Heavy Industry have proposed the 2015 goal of sales of 300 billion yuan, the force of concrete machinery will be the focus of Xugong, one of the most important shortcut is the acquisition of overseas.
In the global financial crisis of 2008, Schwinging and Putzmeister were hit as hard as ever, and the days were getting more and more sad. In 2008 Schweing’s sales revenue was about 1 billion euros, and in 2010 it dropped to about 400 million euros. Schwinging provided an excellent opportunity for XCMG’s acquisition.
If Xugong successfully acquires Schwing, in the Chinese market, XCMG can help Schwing to expand its product line. With the help of XCMG's global procurement network, Schwing can reduce production costs. Xugong’s goal of completing 300 billion yuan will also be just around the corner.
According to Xugong Machinery's disclosure on the evening of March 20, unaudited 2011 annual performance report, the net profit attributable to shareholders of listed companies during the period was 3.379 billion yuan, an increase of 15.12% over the same period of last year (adjusted); basic earnings per share 1.64 Yuan and Express reported that Xugong Machinery recorded a total operating revenue of 32.971 billion yuan, a year-on-year increase of 28.03%. This also means that XCMG’s acquisition of Schwing is not a big problem in funding. In order to promote the internationalization strategy, Xugong’s large-scale overseas acquisitions will also accelerate in the future.
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