Today, Shantui and Weichai Power both issued public announcements at the same time, stating that the Shantui shares changed hands and the new owner will be Weichai Power’s untrue. The report quoted the insiders of the Shandong State-owned Assets Supervision and Administration Commission as saying that the background for promoting this restructuring was to accelerate the merger and reorganization of key industries such as construction machinery, auto parts, and steel.
Weichai Power’s announcement today stated that on March 12th, a domestic media, “Shaanxi Shantou Yizhuo Xinxing Weichai Power Co., Ltd. surfacedâ€, mentioned that Shantui’s controlling stake is expected to be transferred to Shandong Province. SASAC's Weichai Power. For this reason, Weichai Power Holding Co., Ltd. Weichai Holding Group Co., Ltd. has written reply to confirm that this rumor is not true. At the same time, Weichai Holdings also consulted the relevant person in charge of the Shandong Provincial State-owned Assets Supervision and Administration Commission. The responsible person stated that he had not planned to transfer the controlling share of Shantui Shares to Weichai Power. Shantui shares also issued similar announcements today.
According to media reports, on March 4th this year, Shandong Province issued a solicitation of opinions for the "Shandong Provincial Automobile Industry Adjustment and Revitalization Plan", which explicitly proposed to "focus on supporting Weichai Power, Shandong Automobile Group and Shandong Construction Machinery Group. "Reorganization and reorganization" will cultivate 8 to 10 large-scale enterprise groups with strong competitiveness. The media also disclosed that Shantui’s bulldozers sold more than 360 units in February and resumed sales in December 2008.
Today, Shantui announced that the sales of bulldozers in February 2009 were 387 units. Previously, another securities media reported that the market orders for Weichai power engines reached more than 20,000 units in February this year, up from 40,000 in March. Weichai Power clearly stated today that in February 2009, the company’s engine orders were 18,000 units, and that the engine orders for March were approximately 35,000 units.
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