China's private enterprises want to "swallowed" Hummer opportunity strategy "one can not be less"

Experts point out that the Chinese enterprises need to adhere to the four principles of overseas mergers and acquisitions: Use, affordable, can manage, keep alive-this reporter Liu Lijing in Chinese enterprises overseas mergers and acquisitions surging current, yesterday, a Sichuan tengzhong heavy industry 100 million U.S. dollars cash acquisition of General Hummer news aroused widespread concern.　　In this regard, the industry believes that the current Chinese enterprises to acquire overseas technology brands of the best opportunity, but Chinese enterprises in overseas mergers and acquisitions technology and brands should follow the cardinal, that is, the need for, affordable, management and support live. It is understood that GM and China Tengzhong heavy industry have reached an agreement, Tengzhong will buy GM's Hummer. Under the terms of the deal, Tengzhong will enjoy the right to use the Hummer brand and gain access to its key senior management and operating team. Tengzhong will also renew its existing dealer contracts with the Hummer distribution network.　　As part of the overall deal, Tengzhong will hold discussions with GM on long-term contracts for assembly, parts and materials supply.　　But not long ago, the market has also been a domestic brand Geely to buy Volvo News. Li Shufu, chairman of Geely Group, has said that this time is indeed a good historical opportunity for international mergers and acquisitions, so it is important to seize this opportunity to seek accurate acquisitions and achieve their strategic goals.　　He said that not because of cheap or expensive to do these things, but what they need, to be assessed to solve their own problems, so as to facilitate the enterprise itself better development. "The most important thing for Chinese enterprises to go out and acquire is technology and brand." Xiong Yan, chairman of the North exchange, said that China made 30% of the world's products, but only received a corresponding one-fifth return, if the phenomenon continues to be terrible.　　China should be a reasonable distribution of elements in the industrial chain of high school low-end, not only to engage in low-end manufacturing, a group of enterprises should also be to high-end technology brand closer. Li Yuguang, a professor at China University of Political Science and law, also believes that China's good brand companies are going out to acquire overseas and similar word-of-mouth companies, absorbing the leading technology of these enterprises, it can be said that now is a good time. But he believes that there are two risks to be noted, one is that it is difficult to have a clear judgement on the valuation of knowledge capital, and second, how to manage after overseas acquisitions is the key.　　He also pointed out that credit, mergers and acquisitions funds, foreign exchange and other support should be increased to create a good environment and security at home and abroad.　　Cao, a renowned professor of property and economics at Peking University, also pointed out that the main purpose of the foreign mergers and acquisitions of High-tech Enterprises is to acquire ownership in the process order, to have the market charisma, and after this technology is merged, it is more important to maintain the sustainable development of the core competitive products and launch new technologies In his view, overseas mergers and acquisitions of intellectual property and technology companies are best to share their management experience by holding positions in the form of equity financing. In addition, to learn some of the acquisition experience of Western Enterprises in China, it is necessary to take local management to quickly integrate into local culture, because the understanding of local society is not a foreigner can clearlyControl.　　G.S., director of the Beijing First machine tool plant, which had successfully acquired a company in Germany Coburg, said the four basic principles of the North's acquisition were useful, affordable, managed and kept alive. China buys US auto giant first step in Sichuan, a private enterprise has reached the purchase of Hummer intent-the industry believes that Hummer's commercial value is less than the value of the collection-our correspondent Zhang Xiaolin June 2 night, General Motors filed for bankruptcy protection, and the US bankruptcy court allowed it to sell assets as early as next month, only June 3　　China's Sichuan Private enterprise Teng Zhong Heavy Industry Machinery Co., Ltd. (hereinafter referred to as "Tengzhong") announced and General Motors on the sale of Hummer (HUMMER) to reach a memorandum, if the deal is approved by the government, it is likely to become the first car to buy the U.S. brand Chinese companies. Under the terms of the MOU, Tengzhong will get all the benefits of the Hummer's luxury off-road brand, as well as the executive and operational teams.　　　　Teng Zhong Heavy industry insiders said that the acquisition is Teng Zhong heavy work brewing for a long time, mainly in the eyes of Hummer in the hearts of consumers, as well as in the United States market. China's "Bole" phase of Hummer since June 2008, when GM's CEO Wagner announced a comprehensive review of Hummer performance and decided to terminate or sell the Hummer brand, there have been three buyers in media reports: India's Tata Motor Company (Tata Motors) and Mahindra & Mahindra, as well as the Canadian Sociétéde participation financière Eidos.　　Teng-zhong Heavy industry is not the only, this co-operation to make some domestic car manufacturers and the industry is quite surprised. Teng Zhong Heavy industry is a large private industrial group, located in Sichuan, the main business includes special vehicles, road bridge components, construction machinery, new energy, petrochemical equipment, and involved in the field of special vehicle production.　　In fact, the company was not familiar with the car industry until the Hummer was bought. Sichuan Province Business Bureau related to the responsible person told reporters, Tengzhong prior to the acquisition of Hummer to the business Hall has been reported, because Kawauchi enterprises to overseas acquisition according to the procedures required by the business sector.　　He also noted the media's high level of concern about the takeover, but the details of the business office are not clear, as the head of the heavy industry is shunned. Under the terms of the deal, Tengzhong will enjoy the right to use the Hummer brand and gain access to its key senior management and operating team. Tengzhong will also renew its current dealer contracts with Hummer distribution networks. On the other hand, as part of the overall deal, Tengzhong will hold discussions with GM on long-term contracts for assembly, parts and materials supply. According to General Motors ' earlier statement, more than 3,000 jobs in the United States were expected to be retained after the deal was completed.　　The final terms of the agreement have yet to be decided. Yang, general manager of Tengzhong Heavy industry, said in a statement that "the Hummer brand showcases a daring explorationRope, freedom and unrestrained spirit, we will make this spirit continue through investment.　　"Tengzhong said that at present Hummer has its loyal followers around the world, its characteristics and brand spirit, as well as the pursuit of technology, is the main reason for Tengzhong's acquisition of the heavy industry." Teng Zhong Heavy Industry Media contact person Zhao Tongyan to "securities daily", said, the Hummer brand also takes into account three points: first, different geographies and different needs, Tengzhong thinks the Hummer brand has its own market share, is not worried about future sales, and second, it can develop emerging markets,　　　　Zhao Tongyan said that each vehicle growth trajectory is different, Hummer and many emerging markets are waiting to be developed; third, the focus is on management, and improved publicity and after-sales service will also promote Hummer sales.　　Business value less than collection value? GM is expected to complete its restructuring plan within 90 days, hoping to transform it into a leaner, more competitive carmaker.　　As part of its restructuring plan, GM has said it is ready to abandon its Hummer, Saab, Saturn (Saturn) and Pontiac (Pontiac) brands.　　and General Motors is bankrupt, it is generally believed that there are three reasons: one is excessive irrational consumption of the American consumer culture and the excessive dependence on the financial model; second, the impact of the financial crisis led to a sharp decline in car sales, depot shutdown; The third is the high cost of production and not the best quality of American car companies. Five of the top ten best-selling cars in the United States were Honda's models in 2008, and GM did not perform well, with sales in 2008 falling 22.7% and the year losing 30.9 billion dollars.　　In the market segment, SUV sales generally fell more than 25%, large SUV sales fell by as much as 38%, and Hummer is a member of the SUV. The critics of the Hummer takeover are mixed.　　Some commentators are bullish on the acquisition of private enterprises overseas, and some experts believe that Hummer is difficult to turn over, even the commercial value of the value of the collection. "Acquisition is a double-edged sword, enterprises should choose carefully, brand is only a framework, to have market position and value, if the Hummer market share continues to decline, then the same brand value will decline, or even disappear."　　"said Xu An, BYD's public relations manager.　　Acquisition is easy, it is difficult to operate well.　　On the follow-up operation of Hummer, Teng Zhong Heavy industry Media contact person Zhao Tongyan said: Considering the ability and funding problems, as well as the market positioning of the Hummer high-end SUV, there will not be much action, mainly rely on the existing leadership team to maintain and operate, the two sides currently only reached a preliminary framework, the specific details need to be discussed slowly. How will the future Hummer brand operate, how it works, and whether Hummer's commercial value can be maximized? We didn't get a definitive answer. To understand these problems, I am afraid I can only wait patiently.