- "Any piece of Delphi's assets is useful to us. Its technological advantage is 15 years ahead of ours."
On March 18, the media reported that an M&A team led by the Beijing Municipal Government had already started formal contact with Delphi, and had initiated negotiations for the acquisition of Delphiâ€™s non-core businesses, namely brakes and suspensions. Beijing Municipality organized a state-owned enterprise and department private enterprise to participate in the negotiations, hoping to acquire the above assets and promote the upgrading of Beijing's auto parts industry. If conditions are right, it does not even rule out the possibility of an overall acquisition of Delphi. - Everyone knows that the current best time is golden, but we lack the experience of internationalization and we often "previously fear the wolf and be afraid of the tiger." Many experts also cautioned that the bottom-up is very likely to be hit. The M&A action led by the city government is undoubtedly the most eloquent answer given: At the end, it must be copied. Of course, it must be copied valuable, although there may be no small risk.
One is willing to "hit" one wish "æŒ¨"
In this case, it is the Beijing Municipal Government and related companies that are willing to "fight". Delphi is naturally willing to "squeak." Let me talk about willingness to "squeak":
Since it filed for bankruptcy protection three years ago, Delphi has not stopped divesting or selling its non-core businesses. For example, in 2005 Delphi tossed its global automotive battery industry to Johnson Controls. In 2007, TRW bought brake processing and module assembly assets for three plants in Delphi for three years. The latest transaction was this year. In January, Bienes of Mexico announced the acquisition of Delphi's global exhaust system business.
Delphiâ€™s current core businesses include electronics and security, powertrains, heat exchange, after-sales services, electronic and electrical architectures, and investment companies that manage overseas operations. Other non-core businesses include brakes, suspensions, chassis, and steering systems. Delphi handles non-core businesses by shutting down, stopping, and transferring to sales, and other non-core business lines including brakes, suspensions, chassis, and steering systems, with the exception of catalysts and door modules that have been successfully sold. Both are negotiating with buyers from all parties. In short, Delphi is like a fat pig, just flesh, old cut old and there are, as long as the price paid by the buyer is enough to impress Delphi, people are very willing to "crush", not afraid of pain.
Again, I would like to fight. In contrast, the Beijing Municipal Government and related companies are very willing to "fight", and it is necessary to have sufficient ammunition to win. To this end, relevant parties even set up a company that directly operates this dignitary: In August last year, Beijing Automotive and Beijing State-owned Assets Management Co., Ltd. had already signed a framework agreement to establish Beijing Hainachuan Auto Parts Co., Ltd. Book and position it as a unified planning and development platform for the Beijing auto parts industry. The capital invested by both parties amounts to 1 billion yuan. In this bargain-hunting battle, our other major force, the privately-owned Tianbao Group, has successfully introduced important strategic investors such as Shougang, and established a new company called Jingxi Heavy Industry, which is connected with the above acquisition. It was already in March. Officially listed on the 3rd, the companyâ€™s largest shareholder is Shougang, which holds 51% of the shares, and Tianbao Group, which holds 24% of the shares.
To build a hundred billion car industry, Beijing must win Delphi!
Why does Beijing desperately want to win Delphi? First of all, this is inseparable from the uneven development of the Beijing auto industry. According to statistics, the parts and components industry has always been the soft underbelly of Beijing Automotive. The parts and components industry has not kept pace with the OEMs: In the parts and components industry, FAW, SAIC, Dongfeng and even GAC have their own main supply parts systems, With considerable scale and technical strength, Beijing lacks strong parts and components. At present, the auto parts industry in Beijing is almost at the lowest end of the package. Most of them are low-tech products, and even it is difficult to access the supporting links of BAIC's own auto factories. The Beijing Benz and Beijing Hyundai are basically all in the hands of foreign counterparts. All of Beiqi Foton's core components are not their own. Beijing auto parts really need to find a company like Delphi to revitalize its high-quality assets and help Beijing's parts and components industry to achieve rapid upgrade and scale.
Second, this is also a requirement that the Beijing auto industry needs to develop as quickly as possible. The objective and task of the Beijing Municipal Committee of the 10th Party Committee for the Industrial Front was to create a multi-billion-dollar enterprise. After the relocation of Shougang to Hebei Caofeidian, the next 100 billion yuan â€œaircraft carrierâ€ of the capitalâ€™s economy appears to be the most reliable. .
Finally, according to the requirements of the automobile industry revitalization plan, only if it is large enough to be able to enter the ranks of the country's key encouragement and support, so through Delphi, get the technology and smoothly expand the scale has become a benevolent choice.
It looks like Delphi has to buy it. Delphi, is it really blessed to have "Il?"
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