According to Reuters news, China's major engine manufacturer Weichai Power clarified relevant reports yesterday that the company had no intention of acquiring the auto parts business of the American auto giant General Motors Group in France.

In August last year, General Motors, a bankrupt company, said it planned to sell its auto parts manufacturing facility in Strasbourg, France, and said that Asian companies were interested in this asset. According to reports by French media on Wednesday, Weichai Power is the main potential buyer of this asset. However, Weichai Power subsequently issued a statement saying that the above report is completely inconsistent with the fact that the company currently does not have any plan similar to M&A transactions.

The company shows no similar plans

Comprehensive foreign news reports, GM's plant in France mainly produces gearboxes. In addition to 1,200 employees in Strasbourg, it employs 175 technicians and engineers. Last year's profit reached 44.4 million. EUR. However, since the search for acquirers began in August 2008, few people have visited the branch, and Weichai Power has become the only “foreign company” that is interested in acquiring this company.

It is reported that Weichai Power intends to have a long history in overseas markets. In February 2007, Tan Xuguang, the head of Weichai Power, had an interest in Delphi's North American portion of the assets filed for bankruptcy protection, but ultimately it was not. Until the end of January this year, Weichai Power Hong Kong listed companies incited development (2338) to invest 8 million euros in the Rhone Estuary Province of southern France, and successfully acquired French MOTEURS BAUDOUIN Co., Ltd., which produces French The high-power diesel engines used by the Navy fill the gap in the production R&D technology of Weichai Power's high-power engines of 16 liters or more.

For aggressive overseas expansion, Zheng Xianling, chief mechanical researcher of CITIC Securities, said that Chinese companies’ overseas acquisitions do not necessarily have to build factories overseas, but are more about the technical advantages and brand advantages of Chinese companies in the industry. A vast market network.

Related article: Weichai's power bargain-hunting overseas sees the end of the month?

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