Foreign parts giant accelerates the absorption of gold in China

“Chinese companies still lack key technologies in some hydraulic parts, transmissions, and bearings, and there is a gap with international companies.” On November 23, 2010, Sun Jianzhong, vice president of Xugong Machinery, spoke to reporters about the monopoly of foreign capital. China's construction machinery in the high-end parts and components .

Various foreign companies have not only obtained higher profits in this round of development of the construction machinery industry, but also will continue to expand their production capacity in China in the future. Analysts expressed concern about this.

In 2009, Bosch Rexroth, which produces gearboxes and hydraulic systems, had global sales of 4.1 billion euros, while China accounted for about 10%. Liu Huowei, the managing director of Bosch Rexroth China, told the newspaper that its sales in China in 2010 will have a double-digit growth year-on-year.

Steven Ong, general manager of Parker Hanniq Greater China, the manufacturer of fluid control valves, told the newspaper that “Our sales in China account for around 5% of global revenue, and we have US$600 million in 2010. We expect 3 to 5 It will increase to about 1 billion U.S. dollars in the year or so.”

Zhou Xiqiang, the assistant president of XGMA, told this newspaper that foreign-invested parts and components companies not only made money in China in recent years, but also helped a lot of foreign construction machinery assembly companies get a good return.

“In the excavator industry, for example, it relies heavily on parts and components. Some excavator manufacturers that have settled down in China supply parts and components through their own brethren. The purchase price is higher than that obtained by Chinese companies. The cost of overseas spare parts is even cheaper, and in this case, the competitive advantage of foreign-funded assembly machinery companies is also highlighted, and there is no such problem with loaders. The technical requirements of loaders for components are lower than those of excavators. Some, plus Chinese companies have more advantages in human resources and manufacturing costs, so the loader is still the world of Chinese companies."

In addition, because individual foreign companies monopolized the entire accessory market, they also put forward a series of requirements, such as requiring Chinese construction machinery companies to pay a one-year advance payment, the supply period may be more than one year, etc. It has created a favorable environment for foreign assembly factories to gain more market share in China.

StevenOng emphasized that in the next 3 to 5 years, Parker Hanni expected to invest more than 100 million U.S. dollars in China, mainly in Jiangsu, Zhejiang, and Shanghai, and must have new plans for advanced automation processes, hydraulic systems, and filter technologies. Investment, "We will shift the manufacturing of key components to China to shorten the supply chain, and the company will also increase 300 engineers. In the next three to five years, Parker's revenue will increase from the current 600 million U.S. dollars to 1 billion U.S. dollars."

Liu Huowei also pointed out that after 2008, Bosch Rexroth adjusted the company’s production process. “For example, before we had 5 series of products, the company improved these products and concentrated on a series, so that its logistics, management, sales It will increase efficiency. In the next step, we will also double the capacity of our two factories in Beijing and Changzhou."

He also told the newspaper that for foreign-funded parts and components companies, the next round of sales hotspots is that Chinese-funded companies of construction machinery will replace foreign-capital shares. "For example, an excavator may have many Chinese companies that will rise, such as Sany and XCMG. They all need hydraulic parts." Sany's excavators sold more than 8,400 units in the first 8 months, compared with 12 months last year. The total sales volume was only over 6,000 units, and the growth rate was rapid. The companies that exceeded 3,000 excavator sales in the previous August also include Yuchai Machinery, Liugong, and Shanhe Intelligence.

Guo Ai Securities analyst Yu Aibin believes that the expansion of production and investment by overseas spare parts manufacturers is a good news for China's entire vehicle companies, and it also has a negative impact.

"After the expansion, the supply of spare parts for the domestic market will be sufficient, manufacturing costs will also be reduced, and the overall manufacturing cost of construction machinery will be expected to decline. However, this will inevitably make China's investment in component parts stagnant. If foreign giants join hands, Manipulating the supply of parts is a crisis for the construction machinery industry, so Chinese companies still have to make greater breakthroughs in parts and components.

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