Weichai will further enhance its technical strength through overseas M&A and restructuring

Recently, the Shandong Province Brand Building Conference was held in Jinan with the theme of “Innovating and Creating a Brand - Shandong's Strategic Choice of Economy from Big to Strong”. In the afternoon of the same day, at the sub-conference of "Insist on brand leadership and achieve industrial prosperity," Xu Hong, secretary of the party committee and deputy general manager of Weichai Group, said that to become a global brand, it is not enough to rely on one product sold in one place alone. We must learn to build international brands by relying on global resources at the right time, the right environment, and the right opportunities.

Weichai was founded in 1946. After 70 years of development, Weichai achieved an operating income of 107.5 billion yuan in 2015, ranking 115th among the top 500 Chinese companies and the 2nd among the top 100 Chinese machinery companies; and in 2016, the value of Chinese brands. The top 500 rankings ranked second in the mechanical and electrical industry with a brand value of 43.336 billion yuan.

Xu Hong said that in the process of rapid development for many years, Weichai recognized that to become a global brand, it is not enough to rely on a single product to sell products on one site. International development must achieve leapfrogging from general trade to capital operations. The road to internationalization of enterprises is finally reflected in the allocation of global resources. At the right time, the right environment, and the right opportunities, we will actively use global resources and collaborate with domestic and foreign resources to create an international, diversified, innovative, open-ended group. We will build an international company for Weichai and build The inevitable choice of international brands.

Since 2009, under the new economic situation, Weichai has actively sought opportunities for international cooperation. It has strategically reorganized its 100-year-old engine manufacturer, Baudouin, and the world's top luxury yacht manufacturers from France, Italy and Germany. - Ferretti Group, as well as the world's leading manufacturer of industrial forklifts and the global leader in hydraulic technology - the KION Group. Through the acquisition of the French Baudouin company, Weichai has accumulated valuable experience in operating international companies; by reorganizing the Italian Ferretti Group, Weichai has achieved a major breakthrough in structural adjustment. Merger and acquisition of Kai Lun Linde Hydraulics, Weichai has the core technology resources of the global hydraulic control system. These three strategic reorganizations are three milestone milestones in the history of Weichai, and they are also important signs for Weichai to move from China to the world.

Overseas acquisitions have brought unprecedented challenges to Weichai's global operations. Transnational cultural integration, international high-end brand management and integration of resources at home and abroad have all become important factors affecting the internationalization of Weichai.

Weichai went all the way along the “Silk Road” to the west, driving the wheel of the capital to the hinterland of Europe. Based on the strategic needs of transformation and upgrading, M&A reorganized the French Baudouin, German KION, Linde Hydraulics, and Italy Ferretti. These European companies have leading core technologies and are also conducive to pushing Weichai from a single model that relies on investment.

After Linde hydraulics landed, it will completely change the situation that China's high-end hydraulic core technology has been monopolized by foreign countries for a long time, promote China's equipment manufacturing industry to the high end of the value chain; Yachts, as high-end consumer goods, have broad market prospects in the world, especially in emerging countries; As a post-cycle product, it is associated with logistics development and maintains stable growth and profitability.

Talking about the future of Weichai, Xu Hong said that in-depth global markets, and the convergence of global wisdom, Weichai through a series of overseas mergers and acquisitions and restructuring, access to technology and markets to achieve product internationalization and globalization of the brand, injected sufficient energy for the transformation and upgrading.

The accumulation of 70 years of history and culture has injected profound strength into the world for Weichai, the national brand. In the future, Weichai will continue to accelerate the pace of innovation, adhere to brand leadership, and build Chinese-made gold brands in the global market.

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