Since last year, there have been numerous cases of mergers and acquisitions in the auto parts industry, both in the domestic market and in the global market. In the first half of this year, the entire auto parts industry continued this trend, such as the acquisition of 100% equity of Tianjin Tianhai synchronizer by Guangyang Group’s 550 million yuan share in resource integration activities among domestic companies, and similar to ZF’s acquisition of Tianhe International M & A between component giants, such as China Chemical Rubber up to 7 billion euros acquisition of Pirelli such overseas mergers and acquisitions of the generous.
At present, global auto parts resources are being screened and integrated in buying and selling, and the competitive landscape of various sub-sectors has changed from time to time. Analysis of the cases in the first half of this year is not difficult to find. At this stage, mergers, acquisitions, and restructurings among global automotive parts and components companies are characterized by huge transaction volumes, flexible methods, high efficiency, large quantities, and short time.
<br> <br> adjustment period already coming year, the global cases involving auto parts is very much close to 40 cases. Carefully reviewing these cases, the reporter found that the involved auto parts include conventional components such as engines, transmissions, interior and exterior automotive parts, car seats, and tires, as well as chips, sensors, motors, automotive electronics, active and passive safety technologies, and driving. New energy vehicles such as auxiliary systems and smart driving technologies and new products cover a wide range of topics.
What are the reasons for the great number of mergers and acquisitions? From the analysis of the development characteristics of the automotive and parts industries, there are three main reasons: First, the need for globalization support. Currently, automakers are reducing costs and improving efficiency. Naturally, they are unwilling to pay extra for different designs and molds. This requires that parts and components companies must have global supply capabilities. Second, current parts and components companies are moving from single product suppliers to system integration suppliers, which requires component suppliers to re-division. Third, new technologies such as new energy vehicles, automotive electronics, and driverless vehicles are increasingly demanding for innovation. Obtaining new technologies through mergers and acquisitions is faster than independent research and development.
In addition, there are some mergers and acquisitions that are the result of capital operations. This phenomenon mainly exists between foreign companies in Europe and America. For the current form of the auto parts industry, a person in charge of an investment company once told reporters that the auto parts industry is entering an adjustment period in the global economic slowdown and the automotive industry is in short supply, and mergers and acquisitions among companies are The main characteristics of a period of time, after the adjustment period, the global auto parts industry will form a new pattern.
Mergers and acquisitions of domestic enterprises with state-owned enterprises based <br> <br> in mergers and acquisitions in the first half, the mergers and acquisitions of Chinese enterprises, although a small number, but it is noteworthy to initiate mergers and acquisitions are mostly state-owned enterprises. The problem of “big but not strong†has been plaguing China's auto and parts industries. For this, Chinese parts and components companies are taking practical actions to change. It can be seen from the mergers and acquisitions conducted by these companies that they have deepened their understanding of internationalization and their awareness of corporate specialization. They can also feel their urgent desire to learn and catch up with the advanced international standards. The seeds of joint R&D and industrial integration have sprouted in domestic parts and components companies. "Upgrading quality and building an international brand" is an important goal for domestic auto parts companies to actively integrate and merge and restructure overseas. In addition to the parts and components companies’ own needs, the economic environment and national policies are also the factors that promote the frequent occurrence of mergers and acquisitions in the first half of the year. Mr. Wang Da-Chan, chairman of Chunhui Capital, recently said that since last year, the country has continued to promote the integration of the capital market with simple administrative and decentralization measures, which has a great effect on improving the efficiency of mergers and acquisitions of parts and components companies.
In May this year, the State Council approved the Circular on Opinions on Deepening the Reform of Economic System in 2015, which proposed to deepen the state-owned enterprise reform, formulate a central enterprise restructuring and reorganization plan, and form an effective platform for the reorganization and adjustment of state-owned capital. Industry experts said that this will promote the development of mixed ownership, promote the rapid integration of state-owned capital and private capital in the auto industry, and increase the frequency of various reorganization actions such as mergers, divisions, and divestments.
Forward <br> <br> world trend in diversification and professional choices, divide together for a long, long period of division.
The division of the global auto parts industry has been constantly changing, with professional parts companies and comprehensive parts companies groups advancing in the “diversification and specialization†option.
Statistics show that there are certain commonalities among global auto parts companies in mergers and acquisitions. However, in the case of participation of the world’s top 100 parts and components companies, more judgments are expressed about the future industrial structure layout and sustainable profitability.
The strategic significance of mergers and acquisitions and restructuring of auto parts giants is very prominent. For example, the US Lear Corporation expands the international new market seat business through acquisition, ZF merges Tianchi to form the global giant for new parts and components, and NXP partners with Freescale to build the semiconductor giant. The continuous acquisition of several companies by Harman to improve the automotive business and Mahler's global acquisition of the new technology of the Sword Index have greatly influenced the distribution of the global parts and components industry in the future.
In addition, under the general slowdown of the global economic growth, most countries and regions, especially the emerging automobile market where the entire vehicle and spare parts companies are concentrated, have the phenomena of idle production capacity and wasted capital, which require different degrees of consolidation and adjustment. At the same time, the cultivation and growth of emerging industries such as new energy, active security, and intelligence are also inseparable from mergers and acquisitions among companies. In the fierce market competition, many parts and components companies hope to master industrial advantages through mergers and acquisitions.
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