“At present, the Wuzhen Mountain trailers are being carried out in an orderly manner.†A few days ago, three years after the Shantou Agricultural Equipment Co., Ltd. (hereinafter referred to as “Shantuo Agricultural Equipmentâ€) was acquired by the Wuzheng Group from the province, Wang Zhu, deputy director of the Office of Zhengshan Tu Farming Equipment Co., Ltd. (hereinafter referred to as Wuzhen Mountain Drag), told reporters.
The time goes back three months.
Mottled dark walls, aisles full of lime, several workers are working hard to paint the walls of a white. The second floor, which will be the main office space, has been tiled with old-fashioned cement walls to make it look clean. At the gate of the company, she also put on a shelf for decoration and prepared to “change his faceâ€.
This scene occurred on May 18, Shandong Luzhou Shantuo Agricultural Equipment Co., Ltd., more precisely, Wuzheng Group Shantuo Agricultural Equipment Co., Ltd. 4 days later, on May 22, a landmark day for this company will be held here - the establishment of Wuzheng Group Shantuo Agricultural Equipment Co., Ltd. However, from the moment of the official signing of the official cooperation agreement between Wuzheng and Shantuo on April 25th, it means that the state-owned enterprise has become a private enterprise in its identity, and the employee identity is no longer a worker in the past. Now.
The state has retired and the people have advanced, and the general trend has continued in recent years. Holding the five signs of capital, implementation of mergers and acquisitions has become an inevitable development. Mount Eve
The predecessor of the Shantui tractor, which is now the face of the Wuzhen Mountain Trail, was built in 1960 as a tractor plant in Shandong and is the second tractor factory in New China. The fate of the mountain tow in the year of the fate of the fate can be described as ups and downs. In the early stages of construction, it was not smooth. It seemed to be a sign of the fate of this company. According to Shan Huo’s “elderly man†and propaganda minister Li Huiyuan, Shanwo was first established as an important tractor company that was directly affiliated to Shandong Machinery Department and was built by China’s Soviet Union’s experts in North China. Yu Zhen, a former leader in the machinery industry Both He Guangyuan and He Guangyuan have participated in this project. It is one of the enterprises that has been called “seven drags and eight internal forces†after the founding of China. After the construction began, the mountain tow was dismounted after Soviet experts retreated in 1963. A few left-behind personnel produced a small number of iron horses 6, iron horses and 8 tractors. Until 1970, when Shandong Province engaged in the construction of key projects, Laiwu Steel began to reconstruct and Shantui became the "combat headquarters". By 1977, Shantou officially began production. At that time, according to national plans, Tianma produced large horsepower, and Shantui produced medium-horsepower tractors. During the glorious development period, Shantuo became an important production base for large and medium-sized tractors and auxiliary engines in China. The domestic towed market share has maintained more than 50% for many years, and has a social possession of more than 210,000 units, ranking first in the country.
By 1996, in the general climate of the state-owned system, Shantui was no exception to the development dilemma. At this time, Huayuan Group, a state-owned enterprise that has integrated China's agricultural machinery industry, has acquired part of the assets of Shantui and established Huayuan Shantui. At that time, Huayuan also acquired well-known companies in the agricultural machinery industry in Weifang Tractor Factory, Laidong Engine Factory, Giant Ling Engine Factory, and Guangming Machinery Factory that produced agricultural vehicles. However, the Huayuan Group, which is engaged in capital operations and has no experience in industrial operations, has been lackluster in terms of agricultural operations. It eventually lost its effectiveness in 2004 and fled. From 2004 to 2006, Huayuan Mountain Trailer often did not pay wages for four or five consecutive months. In a few cases, the basic living expenses were paid to employees for four to five hundred yuan. The trapped employees even went to plug the 327 National Road and threatened to petition on the down track. During this period, the booming new private-owned enterprise in the agricultural machinery industry Beiqi Futian Weifang Agricultural Equipment Branch (now the predecessor of Foton Lovol Heavy Industries Co., Ltd.) is in urgent need of talents, and Huayuan Mountain Trailer has become a talent base in Futian. According to Li Huiyuan recalled, "At that time, Futian recruited people's advertisements directly to the factory gates and they were able to walk away. Now many agricultural machinery companies have original Shantui employees." In the end, on May 1, 2007, after Huayuan retreated, the company that was newly established in 2006 by Shantuo Farming Equipment Co., Ltd. was called Laoshan Tow. After the bankruptcy, some functions such as schools and hospitals that were formerly “strived to manage the society†were separated and handed over to local governments after bankruptcy. Li Huiyuan objectively analyzed that employees in state-owned enterprises have no sense of urgency, there are too many wrangling problems, and their inefficiency is the main reason why many state-owned enterprises cannot operate.
In 2006, Sun Sunggang, secretary of the Jining City Party Committee, who was inaugurated for less than a month in order to stabilize the mountains with 20,000 people, went to the Shantu survey on April 13, 2006, and held a strategic meeting for the development of Shantuo on April 16, 2006. The government stopped production. More than half a year's businesses invested 20 million in start-up capital. Tao Junyi, general manager of Shantiao Farming Equipment, who has experienced hilly trails, said that he will never forget Sun Shuji. In October of the same year, under the leadership of the government, a total of 70 million yuan was invested by three state-owned enterprises in Jining City to establish Shantuo Agricultural Equipment Co., Ltd., and the three shareholders were Jining SASAC (funded 30 million yuan) and Jining Mining Group (funded). 30 million yuan) and Jining Wheel Factory. The core assets of Shan Tractor Farm Rental Co., Ltd. Shandong Tractor Factory were used to operate and accepted the employment of Laoshan Tuo’s 2,500 employees, inheriting the product brand and production advantages of Shantui. The original mountain tow factory will enter bankruptcy proceedings.
Wu Zhengshan’s executive deputy chairman Xi Hongzeng was publicly recruited in September 2006 to chair the Shantuo agricultural equipment. Prior to this, he had worked in enterprises and government agencies for 15 years, and then went to Renmin University of China for one year. In 2004, he became the first young cadre to go to the United States for an MBA degree in Shandong Province. After taking up his post, Yan was repeatedly attacked by the employees and “has received a lot of aggrieved.†By studying the market conditions of the agricultural machinery in detail, Zhai Hongzeng concluded that the agricultural machinery industry has achieved a lot. Through the implementation of the privatization management of state-owned enterprises in Shantui, the company began to Gradually toward the right track.
According to Yan Hongzeng, after the establishment of Shantu Farming Equipment, the establishment of the new company on October 26, 2006 established the “New Company Accelerates Development, Bankruptcy and Restructuring of Old Companies, and Seeks Large Strategic Cooperation†development ideas, and held a meeting. The "great goal" of "building a carrier for agricultural aircraft, building a brand for 100 years, and creating internationalization" has been established, and at the same time, it has established three concrete steps of development, reform, and opening up. First seek development. After its establishment in October 2006, Shantuo Farming Equipment was quickly established and the annual production and sales volume increased by 68%. In 2008, it still grew by 20% under the financial crisis situation. Two years of development laid the foundation for the second step of reform. One of the biggest measures is to carry out the bankruptcy of the old company Shanmiao according to law. In May 2007, all historical disputes were resolved through the bankruptcy of the old company. The old staff paid off, and 2500 workers were hired by Shantui. Sign all the contract. "Schools and hospitals have been handed over, but they have not yet been completely resolved." The second step is reform. Reform the internal management system, make flexible use of personnel, widen the distribution gap, implement the annual salary system for the middle class, conduct performance appraisal, and mobilize the enthusiasm of employees. Invigorated some of the company's business activities. The original assembly tractor was used as the leading product. Two independent subsidiaries and six branch companies were set up. The two dragging and harvesting machines divisions achieved significant results before the acquisition of subsidies for the five acquisitions. Revenues have risen sharply. In 2008, sales revenue reached 360 million yuan, profit was over 5 million, and sales exceeded 10,000 units. The main products included tractors of 25 to 120 horsepower and 4 series and more than 60 varieties, of which 55 horsepower accounted for 23,000 units. In addition, exports grew by 55% in the same year to more than 50 million yuan, and were exported to Africa, South America, Southeast Asia, and the Commonwealth of Independent States. The third step is opening up. Zhai Hongzeng believes that the strength of Shantui agricultural equipment is weak, Foton Lovol Heavy Industry, Shandong has a larger scale of time, Shanmao is dominated by medium horsepower, there are many competing manufacturers, market capacity is limited, investment in research and development is insufficient, and it is difficult to open it up. Business competition.
The opening up by Sui Hongzeng actually involves the introduction of external capital. Registered capital of only 70 million yuan of mountain trailer farm equipment, lack of money is still its biggest obstacle to development. Especially in times of fierce competition, there is no money to engage in technical reforms and upgrades of equipment. Many equipment have been out of service for two to three decades. Zhai Hongzeng said that although Shantuo Farming Equipment Co., Ltd. has established itself after catching up with a very good market situation, it has achieved temporary development thanks to the national macro-policy, especially the stimulation of agricultural machinery subsidies. However, in the long run, the lack of competitiveness of products is very obvious. Faced with multiple problems, the internal restructuring is not smooth, and the capital chain tends to break at any time and is on the verge of bankruptcy. Therefore, the absorption of external funds is the only way for Shantui's agricultural equipment to get out of its predicament. As early as October 2007, Tao Junyi, general manager of Shantu Farming Equipment, said in an interview with reporters that “it is difficult to make big leap-forward development without major investment, and Shantul agricultural equipment still faces incomplete system reforms and insufficient funds. Problems in terms of production advantages and low levels of management cannot be achieved. To achieve rapid development, it is necessary to take the path of joint ventures and cooperation.†Qi Hongzeng said, “Why should you introduce the wolf into the room? There is no money to invest in equipment and technical innovation!†Since then, Shantui Farming began a arduous search for the "Lang Jun" trip.
"To catch up with the good situation, the company has done a good job in the past three years. The employees have seen the dawn. In three years, sales revenue has reached 400 million yuan. Exports are also good, and they have also gone to a corn harvester," said Li Huiyuan. Thanks to the driving force of the agricultural machinery subsidy policy, Shantui Farm Equipment has sold more than 8,000 tractors in the first five months of this year, with sales of 250 million yuan, and a refund of 110 million yuan. The profit for the first four months was 15 million. The export orders in the first quarter were achieved. Last year, 60%. "I do not want to lead the leadership. The two leaders of Shantui (referring to the chairman of Shantui Farming Equipment Co., Ltd. and the general manager Tao Junyi) are young, but they have strong self-confidence. â€
Five signs of itch
Shandong Wuzheng Group, which eats Shantui agricultural equipment, is a famous manufacturer of low-speed automobiles (agricultural vehicles) in China. It was once rated as “China's Top Enterprise†(private) by the famous business magazine “Forbesâ€.
However, the rapid development of the five levy has also faced difficulties in bypassing the “ceiling†of the breakthrough industry in the development journey. According to a common view of people in the industry, Wuzheng started to rely on super agricultural vehicles and quickly expanded its scale within a few years. According to statistics from the China Agricultural Machinery Industry Association Agricultural Transport Branch, it has been a second-year old in the agricultural vehicle industry ( Shifeng Group ranked first in years. Wuzheng is a joint-stock private enterprise with a relatively light burden. Moreover, due to the high self-control rate of the five rural vehicles, the profit rate is higher than that of the same industry. With the rapid expansion of the five levy, its chairman, Jiang Weidong, was, of course, dominating the company and becoming the soul of the company. Jiang himself also received a huge political honor. He moved from the isolated Wulian Town to the country and was elected to the National People's Congress.
In fact, Jiang Weidong is a very low-key person, despite being the leader of Forbes' "Top Companies" and the richest man of Hurun Rich List. From this point we can see that Jiang Weidong is a very pragmatic person, whether it is a product—what the market needs to produce (agricultural vehicle) or a person—it is very skilled in China's personal life. Regardless of whether it is viewed from the mass media or the professional media, Jiang Weidong, as an entrepreneur with an output value of 6.7 billion yuan, does not have high media exposure.
With the development of enterprises, Wuzheng has been unable to bypass the fatigue of a single product. This is also a problem that will inevitably occur in every company's life cycle. For many years, agricultural vehicles have become the mainstream product of Wuzheng. From the “Doctrine of Act†implemented in May 2004, agricultural vehicles suffered huge disasters, restrictions were increased, the cost of use increased dramatically, and with the social ownership factor, the production and sales volume of agricultural vehicles decreased drastically. The former industry giants, Fei Cai, Juli, and Shuangli collapsed due to cash flow disruption. There are several companies that have produced and sold hundreds of thousands of companies. Only the current wind and the five signs are the “Geminiâ€. From the perspective of the agricultural vehicle industry, sales in the past five years were 2.09 million, 1.89 million, 2.1 million, 2.14 million, and 2.01 million. In the past five years, the output of Wuzhen’s agricultural vehicles was 359,000, 422,000, 488,000, 535,000, and 43 million, respectively, and sales revenue was 4.09 billion yuan, 5.04 billion yuan, 6.09 billion yuan, respectively. 7.2 billion yuan and 6.9 billion yuan. Therefore, it can be seen that no matter from the perspective of the enterprise or the industry to which it belongs, Wuzheng has encountered the bottleneck of development, and it is difficult to break through the “ceiling†of the development of agricultural vehicle main business. In the five levy of the industrial transition, it is urgent to find opportunities for profitable industries.
We once again set our sights on Shandong Shifeng, another well-known enterprise in the agricultural vehicle industry. As early as 2002, we began to prepare for industrial breakthroughs. We have successively cooperated and tried with Hongta Motors, Qingdao Double Star, and many Other companies, and have entered into commercial use. The car industry, though not in large quantities. However, the tractor industry in Shifeng has already had billions of dollars. The power generation industry, the eye lube, and the lubricant industry have gradually become a climate. The harvesting machine industry that has undertaken some double-harvest harvester resources has already ranked in the second-tier level of the industry. After a few years, the industry is expected to become the next-billion-dollar industry following the trend of agricultural vehicles. At present, the wind is still upgrading its pure electric vehicle industry. Among these industries, the wind-driven tractors, tires and harvesters are the most expected.
Jiang Weidong, of course, also understands the importance of the transition and has acted early. Many years ago, the five levy was to produce garden electrical and mechanical products in Rizhao. Wuzheng also wants to carry out industrial upgrading in the near future and enter the commercial vehicle (light truck) industry, and retrieves the automobile catalog. As early as May 2005, it acquired the Hangzhou UFO Automobile Factory. However, it is regrettable that no significant returns have been achieved so far. There is a big difference between doing farm vehicles and making cars. When the wind was done for three or four years, the current light-duty trucks are only a few thousand cars each year. Just as during the recent briefing on the five business meetings, Gao Yuan En, chairman of the China Agricultural Machinery Industry Association, still suggested that the focus of the five levy should still be placed in rural areas, because the five levy are most familiar with the rural market.
In the past two years, Wuzheng also, like many other agricultural machinery enterprises, has successively developed small and medium-sized four-wheel tractors and small construction machinery with high industrial correlation. This year they also started a corn harvester. In addition, it has also planned to cooperate with an Italian company to produce potato harvesters (after self production). The Five Signs clearly also noticed the good development of the harvester market, especially the corn harvester market. In recent years, Wuzheng has also been in contact with some well-known harvester companies including Shandong Jinyi, but the dream has not come true. The idea of ​​Wuzheng is to control a mature harvester brand enterprise in the form of acquisition or holding. This is obviously much easier than branding from scratch, and the payback period is much faster. This is exactly the same as Wuzhen’s acquisition of Shantui. Time does not wait for people, chances are fleeting. However, no good harvesting machine companies are willing to be acquired or controlled by Wuzheng.
Jiang Weidong’s idea is very strategic. The agriculture equipment industry is engaged in the agricultural equipment industry. Tianshi is the emphasis of the national policy on agriculture, rural areas and farmers, the continuous development of the rural economy, the large-scale management of rural land and the transfer of surplus agricultural labor; the geographical position, the five levy agricultural vehicles can be carried out all over the country, and they can enter the north and south, everyone has seen, and the sales channels nationwide. Overwhelming, can be overlapped to a considerable extent; and people and, is the five years of agricultural vehicles engaged in the five levy, the rural market, the farmers are more familiar with the consumption, the five levy brands have considerable influence in rural areas.
After any company undergoes rapid development, it will enter a period of slow development, or even a period of stagnation. Five levy can not escape this fate. From the perspective of the growth rate of Wuzhen’s sales revenue, Wuzhen’s sales revenue increased rapidly from 610 million yuan to 7.2 billion yuan after 2007 from 2007 to 2007. Since 2007, it has faced an inflection point of development and entered stagflation.
However, so far, some of the new industries that Wuzhen entered have either been unsuccessful (commercial vehicles) or have not yet become a big climate (agricultural equipment) and cannot play the role of an economic support point. Compared with the Wuzheng's main agricultural vehicle, it is apparently a drop in the bucket. What the five levy now urgently needs to cultivate is the major industries, the top half of the sky or 1/4 side of the sky. Under such circumstances, from the aspects of internal and external conditions, resource endowments, and industrial chain upgrading, the Wuzheng acquisition of Shantui, which is mainly based on Dazhong Tuo, and the engine industry, seems to be a good choice. Satisfactory flash marriage
In fact, the Five Signs and the Mountain Trailer can be described as having a leading edge. As early as in 2004, when Laoshan was trapped, he had actively extended his "Olive branch" to the Wuzheng. However, at that time, the five levy required the removal of excessive burdens and only accepted quality assets. Xu Hongzeng’s analysis was mainly because the conditions were not mature at that time. At that time, the old company did not go bankrupt, and Wuzhen’s strength was not so strong at the time.
After its establishment in 2006, Shantui Farming Equipment Co., Ltd., which is in a good position to catch up with the situation, organizes production while taking advantage of the potential and is constantly looking for strategic investors. It is understood that the method of seeking for joint ventures and cooperation between Shantui agricultural equipment is very flexible, and only one is to not give up the autonomy of the brand. Zhai Hongzeng said that he has devoted great energy to the introduction of collaborators. In the past two years, he has talked about no less than 30 companies. He also has international agricultural machinery giants like Aike, New Holland, domestic Ningbo Benye, Jiangdong, Deutsche Bank, etc. Financial machinery, and finally cooperation with Wuzheng "I think the most perfect combination under the existing conditions."
The cooperation negotiations between Shantui Farm Equipment and the outside world can be described as twists and turns. It is understood that in the year and a half before the cooperation with Wuzhen, Shantuo Farming Tools discussed more than a dozen of them, including four foreign-funded enterprises, including Deutsche Bank, the well-known investment bank Goldman Sachs's Kellett Fund, and the famous Malaysian company Sendame, etc. But in the end, they all bathed. At the same time, the five signs that waited at the side to watch the changes are all waiting to see what happened. At the end of February 2009, just after the Spring Festival, Wu Zheng, chairman of Wuzheng, took the men to the mountains and towed the farmer's clothes, saying that he would like to examine the cooperation in the direction of the products. Zhai Hongzeng realized that Jiang was not simply cooperating this time. He immediately reported to the State-owned Assets Supervision and Administration Commission of Jining and recommended hospitality. The Wuzheng caused the greatest interest. Jiang Weidong, who was steady at the time, did not stand on the spot. But on the way back, he gave a call to express the intention of the cooperation. He also put forward the conditions for him to report back to the State-owned Assets Supervision and Administration Commission of Jining City. In the event that the Kellett Capital was inconvenient and the strength of the five levy was strong, despite local leaders’ differing opinions, they all agreed in the end to allow the Wuzheng acquisition of Shantui. Until March 18 this year, the two sides signed a framework agreement. On April 25, a formal agreement was signed. At the end of the month, 100 million yuan will be paid in the five rounds. At this time, the Beijing company, which had long been in touch with Shantui and hesitated, immediately rushed to obstruct it, but it was too late. In this way, the five enquiries in the short two months will be flash marriage with Shantui Farm.
"It can be said that the cooperation with Wuzheng is not only the idea of ​​the local government but also the management team's understanding." Qi Hongzeng said. He analyzed that the five acquisitions of Shantui agricultural equipment became the reason why the first macroeconomic situation was created. Other industries in the financial crisis have been hit hard. While the Chinese agricultural machinery industry has been thriving in the financial crisis, both Wuzheng and Shantui feel that they have a basis for cooperation. The second is the need for the adjustment of the five industrial structures. The Wuzheng now proposes that the agricultural machinery and the automobile should be made into two pillars and meet the five levy industrial plans. The tricycle industry is on the decline. The agricultural equipment, especially the tractor industry, has not been developed for several years. The brand has no advantage. To compete with Futian Lovol Heavy Industry and the current wind industry competition at a disadvantage, the joint mountain trailer will have products. , technology, talent, brands and channels, and other favorable conditions. The third is the development of Shantui itself. Shantui has developed rapidly in the past two years. It has been ranked sixth in the industry with the largest drag, and third or fourth in China. The Taishan tractors are very popular at home and abroad. This year even created the highest level in history, reaching the highest level of 18,000 units in history. "It is not 18,000 units in the original sense. Now it is mainly 35-55 horsepower, but in the past it was mainly 25-30 horsepower." The development trend is very good. With a strong momentum, it laid the foundation for the Five Signature and quickly entered the tractor manufacturing industry, which has a certain industry status. Li Huiyuan described the company as "wearing heavy, broken cotton shoes and going to cross each obstacle to compete with others." Fourth, Shantui farmer's mother Shantui has gone bankrupt. “Shanxi has talked about the majority of people who didn’t even look at it. Why did they not have a mountain plucked five years ago? At that time, as the state-owned enterprise’s hillock workers were heavily burdened with historical issues, it was troublesome for the past. Now companies Social baggage has been thrown away, especially for employees' medical treatment and unemployment insurance. Shantrag actively seeks cooperation. The five solicitations are informed and the two parties are in touch with each other. After signing the formal agreement, the five levy will soon enter.
Of course, the acquisition of Shantui agricultural equipment by Wuzheng Energy also benefited from the support of Jining. Zhai Hongzeng believed that Shantui has a positive attitude toward local governments that “does not ask for everything but seeks accommodationâ€. Shan Tu farm equipment is now so big, corporate funds are very tight, it is not easy to transfer more than 30 million yuan in 70 million weeks. If the cooperation can realize the concept quickly, it can achieve the goal of making Shantiao agricultural equipment stronger and bigger. At the same time, the local agricultural machinery industry has employment and tax revenues. According to another report, Zhang Zhenchuan, the mayor of Jining, once served as county party secretary in Wuling County, where Wuzheng was located. He served as a supporter of the five-legged development and was the fastest growing five-legged period. In Jining, there are also well-known companies such as Guofeng and Dafeng, which have a certain industrial cluster basis. Jining hopes to use this cooperation to build Ganzhou into a farm machinery city, and has planned agricultural machinery industrial parks so that it can pull the agricultural machinery manufacturing industry with its industry leader. Promote changes in the competitive landscape of agricultural machinery. Of course, under the situation of “maintaining stability†everywhere, the local government is anxious to get rid of the burden of Shantui. This can also be one of the reasons.
When asked whether there is any concern for the future, Si Hongzeng, who has already become chairman of the vice chairman of the board of directors, is a member of the Jixian county under the jurisdiction of Rizhao City, and may have a natural affinity with the Wuzheng. . He told reporters that through his contacts with Jiang Weidong, he was "trusted by his character," and he assessed Jiang as "pragmatic, low-key, and capable." The reporter asked him what attitude he took on the acquisition. He said that the past few years have experienced bittersweet things, and it is difficult to coordinate the internal and external relations of the company. However, he is still young and wants to do something to achieve personal value. At the beginning of expressing his intention of cooperation, he had pushed for the five levy and considered that “investment companies are investing. If they do a good job, they must do well. If they are not good, they should choose the five levy because the industry can complement each otherâ€.
The reporter saw in the Baidu Mountain trailer that "we are not afraid to contribute, as long as there is work, we are also happy to be tired!" This may represent the voice of some employees who desire to work. "Cooperation has solved employee welfare problems. They are also happy. To anyone who does it is also good." Li Huiyuan said, "Of all the workers who had no money to commit crimes, the five levyes have come with a good working environment and stable income." The overall quality of their own staff is very high. This year, they have worked overtime. In April, they produced more than 2,600 sets per month, creating the highest record in history and reflecting the dedication of the employees of Shantui.
Gao Yuanen, chairman of the China Agricultural Machinery Industry Association, believes that Wuzheng and Shantui are all beneficial things from four perspectives. First, the industry is advantageous. At present, 4 out of the top 8 outstanding tractor companies in China are acquired by foreign investors. The acquisition of Shantui by Wuzheng is beneficial to independent brands; the second is favorable for hill tow, and the tractor with 50 horsepower is famous. Now it has acquired The development of funds will accelerate development. Third, the five levy will be beneficial and the product line will be broadened. Fourth, the local governments will benefit from the increase in taxation and employment.
Integration vision
For Wu Zheng Jiang Weidong, there are several problems in the acquisition of Shantuo: First, the future planning of the tractor industry, if you create an industrial platform, how the tractor positioning in the five levy industry chain, how to develop in the current agricultural machinery industry climate Get down to industry opportunities. Second, the coordination between the tractor tractor industry and the original five-stroke tractor business. The third point, perhaps the most important one, is to integrate the resources and culture of the two sides and how the Shanlu management team and staff can be better integrated into the five conquests.
As a party to mergers and acquisitions, Wu Zheng naturally reflects a strong sense of color. At the beginning of its entry, it has placed its own people in some major departments such as finance and personnel. Some external observers believe that for the five levy, the most important point after the acquisition of Shantui may be to abandon the “strong†mentality, respect, inclusive, and win-win. Peng Ling, the deputy spokesperson of the Capital Agricultural Group, was able to become a reference to the strong five levy after he successfully merged Hebei Sanlu with Sanyuan and smoothly transitioned. She said, “The Sanyuan Group has a 60-year history of development, and merger culture is a new issue. A merger cannot have a strong mentality; mergers do not necessarily have all the advanced nature, relying on external forces to impose on each other, can not obey people. The core is the respect for people. The real strong must have a generous, inclusive mind and tolerance, and dare to admit their own deficiencies."
In this respect, there are also successful examples that can be used in the agricultural machinery industry. After Xuan Bihua, chairman of the Hangzhou Donghua Group, bought Changzhou Dongfeng, he wouldn’t drive. In addition to a driver, he didn’t bring anyone. Some people are puzzled by this. Xuan Bihua answered that they are their own companies anyway. Why do they believe that Donghua people do not believe Dongfeng people? Relying on all the original Dongfeng personnel, Changzhou Dongfeng radiated a strong vitality. From August 2003 to the end of last year, Dongfeng Agricultural Machinery entered the best and fastest period in history. The company’s sales revenue ranged from 200 million to 11 Billion, dragging from 3,000 to nearly 30,000, exports from 10 million to nearly 70 million US dollars.
Some experts believe that from the experience and lessons learned from mergers and acquisitions of domestic and foreign companies, there are at least two factors that must be taken into consideration before the merger of policy makers: First, the ability of the merged company to resist risks; second, the risks the company will face after the merger. . The value of Jiang Wei as the chairman of the company is reflected in the fact that apart from his personal management experience, the most important thing is to establish the ability to integrate resources and teamwork under his personal appeal. This is “soft power†that cannot be replaced by money.
Qin Weifeng, Jiang Weidong’s “Admiralty Minister†and Vice Chairman of Wuzhan Mountain, also believes that the potential of the two parties after mergers and acquisitions can be better played, first of all cultural integration. How to solve the problem of resettlement of employees during the painful times of change is very important. The mountain tow is only 15 minutes away from the Confucian sacred site of Shandong Qufu in Quzhou, deepening the Confucianism of “benevolence†and “the mediocrityâ€. It cannot be radical and must be golden.
However, although Jiang Weidong promised to receive all the employees at the beginning of the merger, some employees are worried about the actions that may occur in the past, especially for older employees. It is understood that the current average age of employees in Wuzhenshan is 42.5 years old. "Acquisition is good for most employees, but employees over 50 may face some risks."
Many of the second-generation and third-generation employees of Laoshan Tuo are in the enterprise, their thinking model is relatively solid, and their feelings are very deep. Therefore, the requisition of Shantui personnel by Wuzheng must be a thorny issue. There were originally more than 5,000 people and more than 1,000 people who had retired. Laoshan still had problems left over from history, leading to a small number of employees petitioning or seeking advice from the factory. The reporter met an old lady in Wuzhen Mountain and asked an old cadre in the factory to ask for a minimum guarantee.
According to Li Huiyuan, Minister of Publicity for Shantou Farming Equipment, “I feel that Jiang is indeed an official and a person who works in industry.†He believes that the two sides should work together culturally and should not be rushed to make the employees calm. “The success of the Wuzhen Mountain Trail may be very large. If it develops smoothly, it will really be able to establish the Zhangzhou Agricultural Machinery Industrial Park and even later acquire Dafeng and Guofeng.â€
In Baidu Post Bar, an "also talk about the five acquisitions of Shantui" postings is unusually hot. Some people claimed that “the situation of Huayuan should not be staged in Wuzheng, because Huayuan itself is a very large stall, and the headquarters is not in Shandong, and the acquisition of Shantuo has no energy to manage. In addition, Huayuan’s agricultural machinery project relied solely on acquisitions and did not have experience in agricultural machinery itself.Furthermore, a small mountain tow would not be able to delay Huayuan, and Huayuan’s bankruptcy had many other reasons. There is no such a large capital as Huayuan to squander, and since it has invested in mountain tow, it must be well managed.Sunlight is not far from Jining, and it is much more convenient to manage. Compared to Huayuan, Wu Zheng is a farmer and is responsible for management and technology. Sales are more suitable for mountain tow than Huayuan."
Shuffle game
The acquisition of Shantui by Wuzheng, according to the current status of the two companies in the agricultural machinery industry, has naturally become one of the major events in this year's agricultural machinery industry.
After the five acquisitions of Shantui, the first step took out a one-hundred-thousand-million-dollar investment holding Shantui, which was all in place for the first three months. It invested in technological transformation projects and put on high-horsepower production lines and electrophoretic paint production lines. It is expected to be completed by the end of this year. And bought the plant and equipment of the bankrupted Laoshan Tow, and paid for the purchase of Laoshan Tow's plant and land.
Wuzhen Mountain has established a five-year, three-step development plan. The first step is to form an annual production capacity of 30,000 units of medium and large tractors and a sales revenue of 1 billion yuan by the next year. In the second step, the existing plant area will be further tapped and transformed to achieve an annual capacity of 60,000 units of medium and large towed vehicles; Step by step, build a new agricultural machinery industrial park with an annual output of 100,000 medium- and large-sized tractors. In three years, it will achieve a scale of 100,000 tractors and 300,000 units of flying dynamic engines. The sales revenue will reach 5 billion within five years and will strive to achieve even greater breakthroughs. Use 5 years to reach or exceed the development speed and operating performance during the “First Five-Year Plan†period of the five levy.
Jiang Weidong At the Wu Zheng Business Annual Meeting held on the third day after the establishment of Wuzhen Mountain Trailers, Wu Zheng and Shan Tou’s dealers declared that they would enter the top 3 to 5 of the tractor industry. This goal may be a feasible goal in the eyes of many people. Judging from the accumulation of numbers, the dragging and dropping of the five levyes imposed by Shantui has been a relatively large scale in terms of quantity.
At present, the domestic medium and large tractor industry, Foton Lovol Heavy Industry, and China’s Red Dragon have taken the lead. Foton Lovol worked hard to become a new business in recent years, and at the same time laid the product to Xinjiang and Heilongjiang. At the same time, after Changzhou Dongfeng was acquired and restructured, the old state-owned enterprises rejuvenated. From the sales data of 2008, Shantui agricultural equipment and Deer Tiantuo, Deere Ningbo, New Holland, and Yueda Yancheng belong to the second camp of Dazhong Tuo. John Deere, the world's agricultural machinery leader, is moving steadily and step by step. Changzhou Dongfeng, Shanghai New Holland, Huanghai Golden Horse, and Ma Hengda are all other non-elite classes. The five levy in the main mountain trails will undoubtedly give Shantui the strength to compete. This emboldenedness is the channel, capital, and social resources of both parties.
From the perspective of the entire industry, the industrial concentration of the medium-and-large dragging industry is not high, and the leading advantages of the top ten companies are not obvious, and the competition is fierce, resulting in the opportunity to integrate some second and third tier brands. In the past two years, due to the implementation of the agricultural machinery subsidy policy, many tractor companies, such as Shantui agricultural equipment, have enjoyed a lot of investment in the agricultural machinery industry. However, the result of this is the low level of industry concentration, coupled with local protectionism that is intentional or unintentional in some places, and cannot compete with foreign giants to cultivate strong local companies. From the national perspective, it is clear that the cultivation of more competitive ethnic enterprises is a matter of consideration. Accelerating industry consolidation is clearly a requirement for development.
“Because of the strong policy effect of subsidies, this year's tractor market is very good and not necessarily good next year. The competition is so fierce and how the future needs to be studied. In 2006, the first year of Shantui agricultural equipment was restored to half of its channels, plus five technical innovations. With the input, Wuzhen Mountain will be more competitive, otherwise it will not be able to compete with other companies according to the previous situation. As a traditional state-owned enterprise, Shantuo becomes a five-subsidiary company, facing the issue of how to make trouble and how to re-lead the trend." Li Huiyuan analysis.
As said. Five signs, the structure has been established, the rest will depend on Jiang Weidong.
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