Jiangling to buy Taiyuan Zhongqi to build a full range of commercial vehicles
Jiangling, who has been stalking for years and has grown up in silence, finally shot.
On August 8, 2012, Jiangling Motors Co., Ltd. ("JMC") acquired the entire equity interest of Taiyuan Changan Heavy Duty Truck Co., Ltd. ("Taiyuan Heavy Duty Truck") and Jiangling Motors and Shanxi Taiyuan Municipal Government signed a signing ceremony in Taiyuan, Shanxi Province. The signing ceremony included Li Xiaopeng, executive vice governor of Shanxi Province, Chen Chuanping, secretary of Taiyuan Municipal Party Committee, Mayor Lian Yimin, Xu Liuping, chairman of China Changan Automobile Group Corporation, Wang Xigao, chairman of Jiangling Motors, chairman of Ford Motor Company (China) Co., Ltd. Vice President of Jiangling Motors Xiao Dawei and others.
Jiangling’s acquisition of the shares of Taiyuan CNHTC was jointly held by China Chang’an Automobile Group Co., Ltd. and China North Industries Group Corporation. The former holds 80% of the shares, while the latter holds 20% of the shares. After the acquisition is completed, the new Taiyuan Heavy Duty Truck will be a wholly-owned subsidiary of Jiangling. It will have independent legal personality and continue its current heavy truck production and operation and related businesses. Jiangling Motors' purchase of Taiyuan Heavy Duty Truck will enable the company to quickly enter the heavy truck market. Jiangling chairman Wang Xigao said at the signing ceremony that Jiangling will import Jiangling brand heavy truck new products as soon as possible after the acquisition and increase the existing market competitiveness of Taiyuan CNHTC products.
As a company with a commercial vehicle as its core competitiveness in the Chinese auto industry, Jiangling Motors has been immersed in market segments for many years, and has given full play to its competitive advantages in various market segments. It has become a well-deserved leader in all fields. Steady growth momentum. In 2008, Jiangling's production and sales volume was less than 100,000 units. In 2011, Jiangling Motors sold more than 190,000 units of complete vehicles and achieved a sales revenue of 17.5 billion yuan, ranking among the top 100 listed companies in China for eight consecutive years. Jiangling has initially established a series of products ranging from light passengers, light trucks, pickup trucks to SUVs.
Jiangling also signed a contract with Taiyuan Municipal Government to establish a new production base and intends to expand the heavy truck business. Shanxi is an important market for heavy trucks. It is also a big province for raw materials (iron, coal) and energy (electricity). It provides a good platform for heavy truck business, and the strong combination of government and enterprises can achieve a win-win situation. Recently, the value has been dragged down by the state's macro-control, which has reflected the uniqueness of Jiangling M&A. On the one hand, it can respond to the government’s policy of encouraging industrial restructuring through mergers and acquisitions, and it is supported by relevant parties such as the government, especially Shanxi. Such a resource-rich province facing development and transformation has strong demand for large-scale industrial projects; Jiangling, on the other hand, can realize the expansion of commercial vehicle segment markets at a relatively low cost during the downturn of the industry, and it is also playing a role in Jiangling Motors’ commercial vehicle field. Advantageous opportunities to enter new areas with competitive advantage are beneficial to enriching the JMC product line and becoming bigger and stronger in the commercial vehicle sector.
Chen Yuanqing, president of JMC, stated that current commercial vehicles, especially the heavy-duty truck industry, showed negative growth, but China’s long-term infrastructure construction and economic growth will make demand for heavy-duty truck products rise steadily. The total amount and development potential are still attractive to new entrants and dominant enterprises. force.
It is noteworthy that Jiangling said in the acquisition announcement that the acquisition was fully supported by the majority shareholder, Ford. Ford has extensive experience in the heavy truck field and strong product lineup and technology. Its support for JMC's future development of heavy trucks, including the possibility of importing Ford heavy truck products and technologies in the future, will undoubtedly give Jiangling a strong competitor in the heavy truck field. Add weights.
In recent years, along with the continuous growth of production and sales volume and the expansion of the company's scale, Jiangling’s position in the Chinese automotive market, especially the commercial vehicle market, has been increasing. Jiangling has a strong product development, manufacturing, and sales system. Its advantages in lean manufacturing, quality control, and cost management not only occupy a leading position in the domestic automotive industry, but also compete with the international advanced level. Jiangling has gradually formed the core competitiveness of independent development through the global platform of partner Ford. The state has identified enterprise technology centers, national high-tech enterprises, and first-rate standards of vehicle emission labs and other facilities in the Asia-Pacific region.
In recent years, a series of new projects have been launched, leading Jiangling’s strategic transformation and heralding the arrival of Jiangling’s accelerated deployment. The new generation Kairui light truck, Yusheng S350SUV, the world's leading power 3L diesel engine, self-developed gasoline engine, and other joint venture brands, JMC independent brands form a dual-core driving force. In 2011, Jiangling’s first self-owned brand passenger car, the Sheng Sheng SUV, launched the clarion call of Jiangling’s expansion segment. Jiangling, which has been suffering from insufficient production capacity, is building a new 300,000-odd new vehicle base for over 3 billion yuan. It also has new product R&D centers, laboratories and test tracks. The new plant has advanced technology, lean and highly efficient, and the automation and flexibility of production lines and equipment are aimed at the international advanced level.
Taking advantage of years of accumulated efforts in China's commercial vehicle market, Jiangling marched into the heavy truck business and announced its strategic goal of building a full range of commercial vehicles. Jiangling Motors is ambitious, bigger and bigger, and strives to rank among the top commercial vehicle giants with international competitiveness, and has a place in the development pattern of commercial vehicle companies in the world.
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