Negotiations lasted a year and a half is hidden behind the heavy truck industry a completely new mode of cooperation. Crisis era, it was the German MAN company in the Chinese market to find new hope, and China National Heavy Duty Truck more and found the one on products, technology, market, and businesses have a new panoramic puzzle
Automotive Business Review reporter Lei Ma
heavy truck industry, China, Jinan has never been the land of mediocrity.
Road in the City of Heroes No. 165 Yaner from a building is not, is China's largest heavy truck manufacturer mm CNHTC Technology Center is located. Two years ago, groups of mountain road bridges around the group headquarters, chairman and party secretary Ma Chunji moved his office here.
scale development projects with a number of custom self-built office building or rental companies in different style, simple and even some shabby front office environment, people can not be a time of China's largest heavy truck with its corporate image pull on the relationship, but this did not prevent this same simple heavy truck manufacturer to come up a good performance, and often in the past few years the central topic of the industry.
, of course, this time is no exception.
October 7, 2009, when most people are still immersed in the National Day holiday in the relaxed laid-back, after the media and industry continue to agreement.
5 days after the Oct. 12, the Chinese heavy truck, held in Jinan, for the first time, the mainland media conference to announce the bilateral cooperation has entered a substantive stage.
In fact, the holding, including China National Heavy Duty Truck 51%, the German MAN company spent 560 million euros (about 6.048 billion Hong Kong dollars) stake in China's 25% +1 shares of heavy truck, while exclusive licensing approach will include vehicle and Europe Ⅲ, Ⅳ and Europe Ⅴ Europe, including engines technology licensing in China and the Chinese heavy truck subsidiary of the main contents of the relevant agreements as early as July 16 has been announced.
news drew that hit in the joint venture has repeatedly suffered heavy truck industry in China, vibration-mm Whatever the level of reflection, the Chinese heavy truck and the Man in the equity and cooperation in technology transfer new attempt, the Chinese heavy truck industry, is the signal can not be ignored.
previously, including Mercedes-Benz, Volvo, Renault truck manufacturers including the world have tried through the simple introduction of technology or the traditional equity ratio of 50:50 means the joint venture in China to the success of the label affixed, but most of them incompatible with the market demand for products, or brand and other key negotiating point unable to obtain consistent and counterproductive.
now appears that, after 15 rounds of negotiations at the working level, and 5 high-level talks, the Chinese heavy truck MAN of Germany reached the technical level from the capital to co- , all dotted with foreign enterprises competing in the fulcrum of domestic trucks, which lasted a year and a half behind the negotiations is a delicate balance of art of the two companies and, ultimately, win-win results.
some extent, this cooperation China's heavy truck industry in the development process is an important symbol of the changes it brings to the industry, or in the future as a field of heavy-duty truck joint venture in China a sample.
seem to experience the Great Depression and the European market Start the Panorama's new corporate puzzle.
all have desires but also to start the engine all the talk.
2006 年 3 20 March, the parent company to stop the supply requirements of the engine as a bargaining chip to break up with China National Heavy Duty Truck Weichai finally got it. Shandong SASAC will hold 100% of the original SINOTRUK Weichai shares transferred to their own name, the two sides ended 23 years of relations and enemies. Hangzhou, China, relying on heavy truck engines Self Jinan Power Company plant and engine products.
the next period of time, this manufacturer of heavy trucks using local wisdom and ability to respond more quickly to meet the market demand for the engine, especially in 2008, without additives will be able to meet Euro IV emission standards EGR (exhaust gas recirculation) engine almost become the most talked about areas of heavy trucks a keyword, and the Chinese heavy truck market has brought considerable rewards.
but always looking to create wealth is not that durable, followed by gradually emerging issues mm Indeed, this issue Cai Dong, President of China National Heavy Duty Truck has been realized very early on.
Cai Dong was the concern is that most domestic engines, including China re- steam engine, was largely based on product upgrades from old, from the initial state Ⅰ, Ⅱ optimized and improved the country to enhance the country Ⅲ, State Ⅳ.
in such a way to continue using the existing engine optimization, it still can be achieved Ⅴ State emission standards, but the fuel consumption, noise control, etc., can not meet future regulatory requirements.
requirements, we will certainly not reach. relatively high-end you can see some of the domestic heavy truck, the engine of foreign capital tied up most of the background of the core technology, which makes the only engine equipped Hangfa CNHTC A7 seem thin.
no doubt that China heavy truck engine technology development at the crucial moment. has the function of existing and potential mining engine to the largest heavy truck in China must have reserves, and introduction of technology is clearly the fastest path.
on China's heavy truck engine technology, the path of reflection and looking for cooperation, the German MAN's strategy in the global and China also began to change.
Man Group, the incumbent president of the German Hanken. Samuelson has not left Scania assumed office in Germany, before the 200 years of industry and its considered a European company, as it is a German company.
that time, it is basically built the factory in Germany, and has included boats, mechanical and even Roland This world-renowned German manufacturer of printing machinery, including a variety of business.
Samuelson of the arrival of Man is a great change, when the Man in the global commercial vehicle has a place in the field, but for him still a bit sold in 2006 was a pretty good profit Roland.
At the same time, Mann began to emerge from Germany in the European expansion, it is in Poland, Turkey and other places to build factories, and gradually reach out into Asia in India in mm 50:50 a joint venture equity ratio, the acquisition of trucks and public buses in Brazil the company, and million euros investment in Russia, established a pre-and post-sales network. now the big man as long as the completion of an ambitious co-operation in China, we can the Man in the the possibility of cooperation, in fact, with China National Heavy Duty Truck Man back in the 1980s to become attached to the project in Steyr, but a new round of such lasting bonds of cooperation for both sides seem to have no help. because at that time, the slightly arrogant enterprise strategic cooperation in China, the idea is to be able to have enough power and control over the discourse.
this year, in the study completed all heavy truck business in China, the Cayman, a vice president for technology provided to the Secretariat wrote a report, which greatly praised some of China's heavy truck, that its system, both in technology research and development, or development potential of the process is pretty good mm, however, such enterprises apparently difficult to contacts with other enterprises, which also includes Weichai.
a chance encounter, Man and Weichai and cooperation of other companies are not going well, even worse, the sudden arrival of financial crisis, and this gives the already greater European market slowdown hit, Man of the performance decline, but this time more determined Samuelson worldwide demand for heavy trucks transferred from developed to developing countries. He needs a determined co-operation results not just to stay level in the negotiations.
2008 年 2 months, the same two companies actively seek cooperation in each other's field of vision again, the two sides began exploratory contacts.
tangled take equity
TOWN shadowless mountains in Jinan China National Heavy Duty Truck 10-story headquarters office, the side wall map of the world, as China's import and export of heavy truck Deputy Chief Economist and chairman, most of the time his shuttle in the various markets overseas .
that field in just the past year and a half of negotiations, Zhang speaks fluent German town of Office to negotiate the identity of the project team involved in the negotiations, the work of all the 15 meetings and 5 high-level talks.
10 22, Zhang Zhen told 24% under public ownership, but in all aspects of the negotiations, the clear option is to continue the negotiations can proceed smoothly cornerstone.
exploratory Man with Germany began in February 2008 contacts, when the two sides of the possibility of cooperation. Initially, the Chinese heavy truck is the most pressing wants engine technology, so just want to introduce the engine from a technical point of cooperation, but cooperation is hope to find more companies refuse to Man: If only a simple introduction of technology, they not cooperate.
Next, Manti out hope for cooperation in the capital level, and 34% of the shares proposed mm Man apparently had prior research, because, according to Hong Kong law, in the long run, this equity ratio will be operations in the company so that they get more right to speak.
do the math to know that such a requirement is impossible. As Sinotruk listed in Hong Kong under the Hong Kong regulations, the public float of not less than 25% and, as the state-owned enterprises, the Chinese heavy truck must ensure that 51% controlling interest, which is also apparently is not negotiable, then only can give to the German Man 24%.
this, Man can not accept, so in this The two sides have been tangled issue.
At that time, the Chinese heavy truck set up a special project leading group, headed by the Group, the total charge of the Deputy Wei Zhihai, deputy head of the China Heavy Truck (Hong Kong) Tong, chairman of the shareholding structure of gold is mainly responsible for the root , another deputy head of the Group Chief Engineer Wang Shanbo negotiations are focusing on technology, and deployment of the Legal Department, Securities Department, Finance Department, Technology Center and other departments of the top leaders, who together make up the 19 team to participate in all aspects of the negotiations, all participants CNHTC ministerial level are managers.
Man also sent the talks unprecedented lineup of the group-based, all major talks and the Man Samuelson, president of commercial vehicles will Wieman to participate. Prior to their practice, involving a subsidiary's business by the subsidiary of their talk.
but the problem was the delay to determine the options for it, other, more detailed, such as some of the negotiations on technology transfer can only float In the surface, unable to go deep.
things turning point came in September 2008, when the German MAN company held a grand celebration of the 250th anniversary, Ma Chunji been invited to Germany to attend the celebration. for the horse, the long journey channel sound is not so simple to congratulate one hand, he passed the opportunity to learn more about the strength of this company, another important task is to persuade the Germans to accept the Negotiating Group to finalize before leaving the equity ratio of 25%.
it is a very grand celebration banquet, 1,000 people attended, Ma Chunji told 45-minute speech. All this gave the horse a signal of pure economic mm This is indeed a strong company.
next Samuelson talks with the pleasant, the two talk about ideas, talk about culture, about values, the final horse with Our stock constantly added, much more important than dividends, interest is much greater, do not pick up pound-foolish, the watermelon is very important. Sen accepted his views, even jokingly said of course you want to watermelon.
a lie in the negotiation process has removed the biggest obstacle has been, it now appears that China made 25% of heavy truck is the key to the negotiations, which so that both sides in the negotiations to find a balance.
on this basis the two sides to finalize a 25% +1 shares of the stock transfer of the shares than the mm is divided into two parts, heavy truck is part of Hong Kong-listed red-chip shares The other part is heavy truck in the Virgin Islands registered company, the equivalent of red-chip shares of the parent 1 mm do not underestimate the share of energy, in the registered capital, the foreign party's investment proportion shall not be less than twenty-five percent. ;
Moreover, in financial accounting, the German Man can Accordingly, the Chinese heavy truck production in accordance with the statistics to a certain proportion to the financial statements, which bent with heavy truck for cooperation, to enhance their industry the image of Man is undoubtedly a very high value.
but CNHTC still faces a problem is if in accordance with the China Heavy Truck mm 51%, Goldman 25% +1 to calculate, the public shares of the outstanding shares of Hong Kong has been less than 25% of the regulations.
end, the Chinese heavy truck initiative apply to the Hong Kong Stock Exchange, hoping to get special Thus, all tangled on equity solved.
technology and brand
in the talks, including the two parts of the four contracts constitute the heavy truck and the Mann Chinese strategic cooperation between the first part of the main mm is about 3 options contracts, including shareholder agreements, share transfer agreement and the convertible bond agreement, the other part is the technology transfer contract.
equity issues eventually will be, the Chinese heavy truck and the Man in the negotiation of technology transfer, etc. to continue the research. both licensed technology and expertise to issues such as domestic total reached about 918 million dollar agreement.
TGA truck access to the full power, in line with Euro II, Euro III, Euro IV and Euro V emission standards for D08, D20 and D26 engines and related parts and components in China, the exclusive right to use the technology licensing agreement under the terms and conditions of production and upgrading of skills-based assembly for trucks and other automotive products and spare parts contracts.
important to note is that in the original text of the contract, all the test must return Man companies, in geographical and market are extremely complex circumstances, make a little change is necessary if the product went to Germany for trial, which is obviously an uneconomical and inefficient practices.
but in the end the final addition to China's heavy truck technology transfer, access to these products, they also take to engine components for all 44 mm release of documents is the most basic areas of a company in the engine, the core secrets, with the release of documents, the Chinese heavy truck to know how to verify the components, how to develop the engine.
they do not give, there is no way. the last minute, from a strategic height Samuelson decided to release.
but if the basis that China's heavy truck picking up the so-called decisions, from the future development of China's heavy truck to assess the potential mm through equity joint ventures, the actual annual Cayman could be huge gains in capital markets, of course, this must be the wheels of heavy truck in China continued to roll forward under the premise that, to help China Heavy Truck, Man is actually helping their development.
MAN spokesman Dominique Nadelhofer told in heavy truck manufacturing platform for the efficient production of steam production. The Man of the new trucks to create effective and meet the demand in China and overseas markets full of hope, they look forward to the end of this long-term strategic cooperation will be win-win all the while enhancing shareholder value. < br> continuously gain a strong foothold. insist on the brand and ultimately no solution.
This is an important issue, the two married children all want his last name last name, and finally we accepted the horse of pure economic proposals. This proposal is the preservation of Chinese heavy truck LOGO, in the Chinese market is still called the China Heavy Truck SINOTRUK, and to overseas markets on the basis of preserving the LOGO to re-take a new name.
fact, TOWN, negotiations have been related to confidence in the brand, in his view, that Multinational corporations are entangled in the ownership of the brand has changed the environment, the Chinese multinational enterprises to provide a low-cost manufacturing and do not yet have control over the power of low-end market, which will work with multinational companies complement each other to form an excellent product line and market complementary. This is from last year's Mercedes-Benz decided to work with Fukuda to give up on the Mercedes-Benz brand of cooperation and adherence can be discerned.
have had years of negotiations as an experienced industry veteran, Zhang Zhen come to realize that the international partners, able to compete in markets outside of Europe are some of the products to adapt to local market demand, poor technical performance of some of the products, the brand of the face of them, such products continue to use their brand, not much practical significance.
Thus, although until the last moment, Mann still has another idea on the brand, but still respect the recommendations of the Chinese heavy truck.
for the Man, the China Heavy Truck is a leading manufacturer of heavy-duty trucks, and its market share rate of 12% growth in 2004 to about 20% in 2008, is one of the few key components to produce the vertical integration capability with one of the manufacturers. potential. will fully support the long-term strategic partnership. feel pretty good, and the results have been rejected and Trademark Office. down.
first heavy truck is the only exporters, all products have to sell through the Chinese heavy truck; second, who has an advantage at the local dealer to whom the network through sales; third, This is the initial project plan, the future will be with their own development and market development have changed.
2009 年 7 16, in basic agreement on major issues, the two sides issued the agreement. A month later, that is, Development and Reform Commission received the instructions, and soon, China's heavy truck in Hong Kong, a special general meeting of shareholders held for strategic cooperation with the German Man 23 motions related to the vote the motion and all agreed to more than 99.99% of votes overwhelmingly passed.
September 26, Ma Chunji, Cai Dong and other Chinese heavy truck and participation by members of the project to revisit Man Man company, and eventually to cooperate formally in the Oct. 7 closing.
methodical
agreement on October 7 finally signed the first 4 days, led by the TOWN, commercial vehicle company in Jinan and power management of the company MAN in Germany to inspect and verify with each other and discuss the problem of domestic projects.
Under the agreement, the German Man accredited to the Chinese heavy truck will gradually place four directors. According to the division of labor, one of the executive director will become vice president of heavy truck to help Cai Dong implemented within two years from the engine, chassis, cab, a large assembly of bridges domestic supply of parts.
Clearly, localization has become China's heavy truck Man cooperation with the German success, it involves whether this is a real will remain open, to achieve a combination of independent innovation project.
Cai Dong told the Heavy Duty Truck on display at the General Assembly, the business platform of products on the market next year.
commercial vehicle platform is based on TGA, the use of Man TGA cab and chassis, engines and related technologies, from card production to the heavy truck products. This is not a copying process of production, also need to improve the adjustment process in the production of trucks. According to the plan, TGA localization platform will help the formation of the Chinese heavy truck emissions from 5L to 12.5L, power from 150 hp to 600 hp have been engine system.
according to this plan, China will have a heavy truck in the future Man of the TGA with a platform to build the strength of new product lineup.
now appears that China's heavy truck with the cooperation of Man become eligible for re- card industry, a typical new era of cooperation. In previous years, the Chinese production sites usually play either provider, government relations lobbyist, or is a shareholder dividend. But now, this situation is slowly changing.
When the heavy truck industry in the past, many Chinese joint venture to leave the end to feel dejected or finishing, on those who dare try to change it, this is another fan opens the door to a new era of cooperation.
The partnership is unique, both in their respective markets is an absolute advantage in the highly successful enterprise established complementary alliance. to achieve its strategic distribution of the BRIC countries, but it will also be high due to China's heavy truck directly to benefit the growth in capital markets. In addition, the annual contribution to China's heavy truck to a certain percentage of their sales figures will also be is a valuable gift.
As for the China Heavy Truck, the adoption of technology transfer, in the after-sales service and other aspects of cooperation, which can completely help the heavy-duty trucks, China's largest manufacturer of trucks to address the most troubled of its future core technology issues mm Obviously, this will make China's heavy truck products, technology, markets and businesses have launched on a panoramic new puzzles.
Ma Chunji told For international market development, division of labor will be with the German MAN company. He said:
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