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Joint Venture Worries In April 2006, the Xugong Group and Carlyle's mergers and acquisitions plans for China's engineering machinery industry were finalized. Carlyle Asia Investment Corporation acquired a 85% stake in Xuzhou Construction Machinery Group Co., Ltd., a subsidiary of Xugong Group, for US$375 million. Although in June the intervention of Sany made the controlling process a series of twists and turns, it declared that the plans of Caterpillar to eat China's mechanical engineering industry that many Chinese economists worried about came to an end.
In March 2005, Caterpillar Inc., the world’s largest machinery and equipment manufacturer, acquired 40% of Shandong Heavy Industry at a “surprisingly low†price. After that, it was reported in the construction machinery industry that the tough Caterpillar Le has established a large acquisition plan with the aim of "diverting China's construction machinery." The XCMG Group, which has maintained its “big brother†for many years in the construction machinery industry, is certainly one of its established goals.
If Carlyle's acquisition of Xugong succeeded, it was equivalent to giving Cater a blow. However, for Carlyle, the ultimate goal is to sell Xugong at a better price, so the development of XCMG will still be unknown.
Since the 1990s, large multinational companies have marched into the domestic machinery industry market, mainly in the areas of automobiles, electrical appliances, cultural office equipment, instrumentation, general machinery, and construction machinery. These industries account for about half of the machinery industry. 80% of the direct investment amount.
Yu Zhen, Chairman of the Federation of Machinery Industry, stated the changes in foreign investment: “The basic premise is that we must maintain our control over investment activities in China, and it is worth noting that the current multinational companies are particularly keen on merging advantages of China's high-growth industries. "The company can now see that after the oil pump industry in Germany, Germany's Bosch Corporation acquired the leading enterprise in China's oil pump industry - Jiangsu Wuxi Weifu Co., Ltd., China's oil pump industry is almost all multinational mergers and acquisitions, holdings After many years of establishment, the technology center has also been cancelled and merged. In the bearing industry, four years ago, the first listed company in the national bearing industry, Northwest Bearing Co., Ltd., had already established a joint venture with the world’s third-largest bearing company, German FAG. After the year the joint venture company became a German-owned company. ...
Technical Black Hole In addition to facing “outside enemiesâ€, China’s machinery manufacturing industry also has many problems.
Once upon a time, the company’s imported machinery became a publicity gimmick. A food company in Guangdong showed off like this: “The company has introduced more than one Japanese and Taiwanese automated production equipment. Its exquisite workmanship and excellent product quality have won the favor of consumers.â€
Such examples are all avatars. Chinese people have also accepted this reality in a subtle manner: Only foreign-imported production lines and production equipment are reliable and are the guarantee of products.
After the rise of the slogan of “rejuvenating the nation†industry, China gradually forged some famous brands, such as Haier and TCL. Although the brand has been completely "localized", but when it comes to the core components of the product, but mostly from abroad, buy air conditioning, shopping guide will tell you that the compressor comes from Japan, to buy a refrigerator, shopping guide will still tell you that the compressor is from Japan.
Industry insiders believe that there is a huge black hole in China's machinery industry. The most prominent manifestation is the high dependence on foreign technology. In recent years, more than 60% of China’s annual investment in fixed assets for fixed assets has been introduced. Even as a national high-tech industrial development zone that is a window, 57% of technology is derived from abroad.
Liu Yanren, an engineer who was engaged in the design of metallurgical machinery, told Xiaokang: “In the metallurgical machinery, in recent years, China has 30 or 40 strips and strips on the strip production line. The type line is even more, and the total investment can be said to be amazing, but All of these equipment and systems come from Germany, Japan and Italy.†For example, he saw at a large steel plant in Hebei that the condensing equipment was from SMS Siemag Germany, and the zinc equipment was from Danieli, Italy.
According to statistics from the Federation of Machinery Industries, the contribution rate of new products in industrialized countries is currently 52%, and China's contribution is only 5.9%. There are fewer products with core intellectual property rights and more cloned products. In addition to the weakening of the capacity for independent innovation, such results are also vulnerable to allegations of infringement. Even if there is a self-developed technology, it is easy to be accused of "plagiarism." The "CM1 Dolphin" maglev train developed by China not long ago has not yet been commissioned. It was accused by some German media and companies of "plagiarizing the German magnetic levitation technology."
Zhong Dajun, director of the Beijing Armed Forces Economic Observer Research Center, once said that the backbone of the entire industrial manufacturing equipment is foreign products, which exposes the weakness of China’s industrialization. The machinery manufacturing industry is the spine and spine of a country. If China does not exercise hard and straight up its waist, then the entire economy and national defense are weak.
In the past 30 years, there have been people who initiated the discussion on “How many years have China's machinery industry lagging behind European and American countries†on the Internet. Many people think that “there is at least 30 years of disparityâ€. This difference is particularly manifested in the engine.
As the engine's "heart", how to evaluate its importance in machinery is not excessive, especially for the automotive industry that China is vigorously advocating.
The automotive industry in China has developed for many years and has not been able to use the "heart" of its own design. This has caused many car industry professionals to be overwhelmed by it. But now there are already several car companies that are beginning to focus on designing their own engines. Chery is one of them. Its successfully developed ACTECO engine has made Chinese cars start to earn technology. Not long ago, the Chery ACTECO engine won the "2005 China Creation Award."
However, Liu Yanren’s engineers, who are concerned about the engine industry, said to the “Xiaokangâ€: “Although the engine evaluated the award, the news also pointed out that the Chery engine factory that produces the ACTECO engine adopts the latest technology and has been introduced by Germany and Italy to represent the highest industrial level in the country. The production line adopts a grid structure and airtight full air conditioning to ensure that high-precision equipment is produced under stable and clean conditions.†Liu Yanren said that this news made him discouraged.
30 years behind China's machinery manufacturing industry in Europe and America (1)
Although brands such as Haier and TCL have been "localized" thoroughly, they will buy you air conditioners. The guide will tell you that the compressors come from Japan and go to buy a refrigerator. The shopping guide will still tell you that the compressor is from Japan. Industry insiders believe that China's machinery manufacturing is nearly 30 years behind Europe and the United States.