Jinsheng Buys Ou Ruikang Textiles From Switzerland

For the Jinsheng Group's acquisition of orrican, there is a voice outside saying that it can be regarded as one of the attempts of Chinese enterprises to acquire European industrial assets for western engineering technology.

　　 Jinsheng The group was founded in the early 90s of last century by Wang Hua, a Rugao native in Jiangsu, and is headquartered in Nanjing. At present, Jinsheng international home chain is the main industry in the layout of department stores, real estate and construction industry.

Jinsheng Group has become the latest Chinese enterprise to acquire industrial assets in Western Europe.

Recently, Jinsheng Group agreed to acquire natural fibers from Ou Ruikang, Switzerland Engineering Group (Oerlikon). Spin Product department. Ou Ruikang holds 47.9% stake in Russian oligarch Victor Vekselberg (ViktorVekselberg), which will enable Ou Ruikang to earn 450 million to 500 million Swiss francs (486 million to 539 million dollars).

Jiang Jianfeng, vice president of Jinsheng Group, said in an interview with the Morning Post reporter yesterday that the above transaction is close to signing. The acquisition of the textile sector will focus on the production of household products in the future. clothing Other products may be sold at home and abroad.

"Orrican sold a good price."

According to the official website of the company, Jinsheng Group was founded by Wang Hua, Wu Yao Town, Rugao, Jiangsu in the early 90s of last century. Its headquarters is located in Nanjing, and initially set foot in the field of home building materials. At present, Jinsheng Group takes the Jinsheng international home chain as its main business, and at the same time layout department stores, real estate and construction industry. Before and after 2008, Jinsheng Group once sought Hongkong's listing. At that time, the news came out that the market value of Jinsheng Group was at least 800 million dollars after its listing.

According to the latest move of Jinsheng Group, it is said that it can be regarded as one of the attempts of Chinese enterprises to acquire European industrial assets for western engineering technology.

Taking textile as an example, Liu Yinfeng, Secretary General of the Shanghai Textile Association, said that there is still a gap between domestic technology and foreign countries in terms of technology. Liu Yinfeng said that although China is now a big textile country, it is not a strong textile country. Besides technology and equipment, the design is also weak.

According to the financial times, orrican sold the Department of natural fibres and textiles to "refocus on the more profitable man-made fiber market". Credit Suisse analyst Parag M (PatrickLaager) and Ramos (FelixRemmers) think, "Ou Ruikang has sold a good price."

Chinese enterprises frequently buy in Europe

From the beginning of, Sany (micro-blog) (8.60,0.78,9.97%) (600031) acquired the German concrete pump manufacturer podster, to the Hon Energy Holding Group Co., Ltd., to acquire Solibro, a German solar battery factory, and Solibro, and 13.22,0.34,2.64% (002531) to acquire the world's largest fan equipment manufacturer, Vestas, which is located in Danish Varde wind tower production plant. In the European debt crisis raging Europe, Chinese enterprises' appetite is getting better and better.

BloombergNews is quoted by people familiar with the matter yesterday as saying that China National Machinery Industry Corporation is in deep negotiations on the acquisition of MAGGroup's German machine tool subsidiary.

Wang Zongnan, chairman of Guangming Food (Group) Co., said yesterday in an interview with the Morning Post reporter that the shadow of the European debt crisis has not yet dissipated, and that the enterprises invested by the financial institutions have come to the exit time, which has provided a good opportunity for Chinese enterprises to "go out".

Since 2010, Guangming Food (Group) Co., Ltd. has acquired overseas enterprises such as Australian food company Manassen, New Zealand dairy producer Synlait, old British grain producer Weetabix, French wine dealer Diva and so on.

"In the past, our allocation of resources was mainly domestic, but with the change of economic environment, some domestic and foreign commodity prices appeared" upside down ", prompting enterprises to allocate resources globally. Wang Zongnan said.

In addition to resource allocation, "network configuration" is also one of the purposes of Chinese enterprises' overseas investment. "Through acquisitions, domestic products can be sold abroad, or foreign products can be sold to China." Wang Zongnan said.

"European market recovery is not expected."

Wang Zongnan's "good timing" is not a saying. In December 2nd, Yi Gang, vice president of the people's Bank of China, said at the beginning of a public policy in Beijing that assets in the United Kingdom and the United States are currently only 11 times to 15 times the valuation level, while in the early 90s of last century, the valuation level was forty or fifty times, and the price was relatively reasonable.

However, risks and benefits are always proportional to each other. Yesterday, the deputy director of the Institute of foreign investment and cooperation, Ministry of Commerce, told reporters yesterday that although Chinese enterprises have the opportunity to purchase assets which are relatively low in price, many countries have restrictions on the operation of enterprises, such as requiring the production and employment of local factories, and limiting the use of domestic technology in other countries. This also makes the risks faced by transnational investment increase.

In addition, due to the lack of consumer confidence in Europe at present, the market recovery is far from being expected. Chinese enterprises wishing to invest need to be well prepared for long-term operation in the region.

Yi Gang warned that in addition to political factors and macroeconomic risks, enterprises also face financial risks in industry. compete Force is difficult to integrate risk. In addition, the coup risk, piracy risk, kidnapping risk and public parade risk in some countries and regions need to be taken into consideration.

Wang Zongnan said that because the pace of internationalization of domestic enterprises is still at the beginning stage, both in terms of talent and philosophy, they face challenges in "going global", and the best way to solve this problem is "localization of management team".