Hengtian Group Acquires Dutch GINAF Takes First Step in Overseas Acquisition


China Hengtian Group Co., Ltd. (herein referred to as “Hengtian Group”), which focuses on the textile industry, has taken the first step in overseas acquisitions, but its target is an automobile manufacturer.

On July 25th, the reporter learned from the Hengtian Group that Hengtian Group's project to acquire Dutch heavy truck company GINAF for a price of 9 million euros (approximately 76 million yuan) has been approved by the National Development and Reform Commission, and it has entered the final procedure stage.

This expansion has also made the Hengtian Group's "ambition" of trying to advance into the auto market across the board.

Zhang Jie, chairman of Hengtian Group, said in an interview with reporters that facing the fierce competition in the domestic commercial vehicle market, the Hengtian Group's commercial vehicle products will be positioned in the higher end, more subdivided special-purpose vehicle market.

In fact, the Hengtian Group has long planned to sort out its automotive segment business.

Hubei Xinchufeng Automobile Co., Ltd. (Secretary of the Hengtian Group, hereinafter referred to as “New Chufeng”), Xinda Middle East, disclosed to the reporter: “In order to avoid the competition with the Group’s subsidiary Kama, another subsidiary The new Chu Feng will also focus on positioning new products."

This reporter learned that Hengtian Group has cooperated with foreign companies in various ways through technical cooperation. This time, GINAF in the Netherlands was selected for its technology, brand and market in non-road vehicles, mining vehicles and other fields. strength.

"It is expected that in October this year, the products that represent the new ideas of the Hengtian Group will be officially launched." Xin Middle East said.

Sword pointed to the approval of the acquisition of the GINAF project released by the website of the Hubei Provincial Development and Reform Commission on the high-end market. It shows that the new Chu Feng has acquired 100% of the shares of Hong Kong Sunnyland, and actually controls the technology, brand and assets of the Dutch GINAF truck owned by Sunny, the new Chu Feng. You can use this to develop a full range of tractors, chassis, and mining dump trucks, and develop bus operations in Europe.

Before the overall planning, the Hengtian Group made preparations for its first overseas acquisition.

At present, the new Chu Feng undoubtedly served as a pioneer in building high-end special-purpose vehicles of Hengtian Group. "Our direction is not only to do a single product and after-sales service, but to learn more about companies like IBM and to become solution providers in the segmentation area."

This reporter learned that the overall planning of the new Chu Feng will provide personalized customized services in addition to the products. At present, Hengtian Group has conducted preliminary contact with companies such as Shenhua Group and Zijin Mining.

The future is unknown. But for the inexperienced Hengtian Group, the future is still confused. Among them, the depressed market is also the first hurdle in front of the Hengtian Group.

According to the latest CV data obtained by the China Association of Automobile Manufacturers of the reporter, in the first half of 2012, except for a slight increase in sales of passenger cars, the number of trucks was 1,343,900 and 1,384,700 units, down by 5.81% and 6.96% year-on-year; Sales and sales of vehicles were 104,700 units and 107,800 units, a year-on-year decrease of 18.81% and 21.64%. Sales and sales of non-integrated passenger vehicles were 38,100 units and 39,700 units, which represented a decrease of 2.76% and 1.62% year-on-year; sales and sales of non-integrated trucks were 245,200 units and 247,700 units. Vehicles, a year-on-year decrease of 26.86% and 28.83%.

Not only that, the performance of various traditional commercial vehicles is gradually falling. According to the information of automobile enterprises that have disclosed the performance forecast for the first half of this year, the net profit of Dongfeng, Jianghuai, and other companies have shown different declines. Among them, Dongfeng’s status as “the industry leader” has been replaced by Jianghuai Automobile.

But despite this, the fierce competition in the industry continues.

The reporter learned that Jianghuai Automobile once again invested 270 million yuan in the acquisition of Taiyuan Changan Heavy-duty Truck Co., Ltd., less than a month after the restructuring of Huaxiang Fuqi. At the foreign investment level, Auman has already joined shares in Sinotruk, in addition to Daimler and Beiqi Foton co-investing in engine plants.

“The competitive pressure facing Hengtian will be great,” said a person from the China Association of Automobile Manufacturers who told reporters that “finance, technology, and talent are the three major problems that we must face first.”

However, Fu Zhiyong, a manager of management consulting firm, stated that it is difficult to obtain a license plate for the special-purpose vehicle market. In addition, there are many types of special-purpose vehicles and miscellaneous categories. It is difficult for a company to meet market segments, and in advanced countries in the automotive industry, Few industries in the oligopoly market are concentrated, and this means that the market's expansion space is still worth the wait.

"But the biggest difficulty in opening up the special car market is still technology." Fu Zhiyong said.

"Before, we have already acquired a German institute." Xin Xinzhong introduced that it can enable New Chu Feng to develop a highly competitive engine with unlimited fuel, low fuel consumption, and small displacement, which will become a new Chu. Wind future profit growth point. At the end of last year, the company also cooperated with a Canadian company to produce an “emergency emergency vehicle” with a unit price of 5 million yuan to 8 million yuan, which is expected to be soon brought to market.

The accumulated international genes seem to make the cooperation between the new Chu Feng and GINAF seem natural.

According to the data, GINAF was founded in 1948. It is a manufacturer specializing in the production of special vehicles in the Netherlands. Its main business is custom dump trucks and concrete transporters, and its products are positioned in the high-end market. In addition, GINAF can also customize firetrucks, riot control vehicles, military vehicles, garbage trucks, and airport fuel vehicles.

The inherent business framework of GINAF conforms to the idea of ​​creating high-end special-purpose vehicle products proposed by Zhang Jie.

“The current competitive market for traditional commercial vehicles is too fierce. Large-scale enterprises such as Dongfeng, SAIC, and FAW have already been deployed in this market.” Zhang Jie said, “To avoid positive killing, Hengtian Group’s thinking is to try to create more high-end, professional The products are used to "borrow brains" from foreign companies."



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