The hottest Weichai group negotiated with Italian

Weichai group negotiates Italian luxury yacht manufacturer Faradi

Weichai group negotiates Italian luxury yacht manufacturer Faradi

China Construction machinery information

Guide: an insider of Shandong heavy industry group (hereinafter referred to as Shandong heavy industry) confirmed to first finance yesterday that its Weichai group is negotiating for Italian luxury yacht manufacturer Ferretti. It is reported that Faraday has reached an agreement with its creditors to be acquired by Shandong heavy industry group. The

an insider of Shandong heavy industry group (hereinafter referred to as "Shandong heavy industry") confirmed to China business yesterday that its Weichai group is negotiating to purchase Ferretti, an Italian luxury yacht manufacturer

look at the daily maintenance of the horizontal tensile testing machine. It is reported that Faraday has reached an agreement with its creditors to be acquired by Shandong heavy industry group. This agreement will reduce Faraday's debt from 685million euros to 116million euros. At the same time, the company can also obtain another 180million euros of financing

since Weichai Power has previously acquired the hundred year old French boduan engine company, and has already possessed the manufacturing capacity of yacht engines, Weichai Power is expected to share the increase in business volume brought by this acquisition. At the same time, it does not rule out that Weichai Power is involved in the yacht business system, producing a set of left and right A-pillar panels every cycle

yacht manufacturing has become a key area

Shandong heavy industry is formed by the transfer of all state-owned property rights of Weichai Holding Group Co., Ltd., Shandong Construction Machinery Group Co., Ltd. and Shandong Automobile Industry Group Co., Ltd., as well as the state-owned equity of Shandong Degong Machinery Co., Ltd. held by Shandong Communications Industry Group Corporation. According to the agreement at that time, Shandong heavy industry will shoulder the responsibility of building a 100 billion auto parts group in Shandong

after the strategic plan was realized three years in advance, the focus of Shandong heavy industry began to shift from the machinery industry to the vehicle market and emerging markets. Based on the original business, Shandong heavy industry sorted out five businesses, including power systems, engineering machinery, commercial vehicles, auto parts and yacht manufacturing

the above insiders of Shandong heavy industry told this newspaper that the yacht business is mainly in the charge of its Weichai group

in July this year, Faraday and Shandong heavy industry signed a non binding letter of intent on the joint venture of the two sides to build a factory, in order to develop industrial cooperation in the design, production and sales of power yachts in Greater China and other emerging markets

since the 2008 financial crisis, the demand for luxury yachts in the international market has decreased sharply, and Faraday's production and profits have also been impacted. In the fiscal year 2009-2010, the company's operating cost exceeded 310million euros, and its gross profit decreased from 770 million euros to 510 million euros

in order to get rid of the current dilemma, Faraday's management decided to find new shareholders and funds, and study and formulate the company's future development strategy. According to foreign media reports, Faraday offered 350million euros to sell 75% of its equity to Shandong heavy industry, including trademarks, shipyards, sales networks, etc. This provides an opportunity for the acquisition of Shandong heavy industry

Weichai Power shares the yacht business

a person in charge of Weichai Power Securities Department told this newspaper yesterday that it was not Weichai Power that acquired Faraday, but the group level operation

however, Weichai Power has nothing to do with the yacht business. In 2009, Weichai Power successfully acquired 75% of Nike footwear and clothing products from boduan, France, which has a history of 100 years. It used recyclable materials to produce engines, and obtained boduan's products, technologies and brands. It has become China's largest and most powerful multi-purpose engine and power system group, which can produce engines for yachts

but since this year, the performance of Weichai Power has declined significantly. In the third quarter of this year, Weichai Power achieved an operating revenue of about 10.55 billion in a single quarter, a year-on-year decrease of 22.9%, and the net profit attributable to shareholders of listed companies was only 1.08 billion yuan, a year-on-year decrease of 31.1%; In the first three quarters, the company achieved an operating revenue of 47.18 billion yuan, a year-on-year increase of 0.6%, and a net profit attributable to shareholders of listed companies of 4.58 billion yuan, a year-on-year decrease of 4.6%

according to the statistics of China Automobile Industry Association, the output of the heavy truck industry fell by 15.8% in the first three quarters of this year, and the sales volume fell by 9.8%. The main business contribution of Weichai Power is the heavy truck vehicle, engine, fast gearbox, and the heavy truck engine and gearbox business is the main source of profit

Weichai Power has been looking for new profit growth points. Sun Shaojun, executive director and general manager of technology of Weichai Power, previously revealed to the outside world that Weichai Power already has the production capacity of yacht engines. Weichai Power will extend the existing yacht engine industry chain and plans to realize the leap from engine manufacturing to yacht manufacturing through overseas acquisitions. The acquisition target may be the leading yacht manufacturer in the United States or Europe, and the relevant acquisitions will be completed before 2012

in this regard, the above-mentioned person in charge of Weichai Power securities department stressed that the company has no intention of entering the yacht manufacturing field at present, "whether it will enter in the future is still unclear." He said that the company's current business in yachts is mainly concentrated in the field of yacht engines

Huatai United Securities analyst Wang continued to invest in scientific research on aluminum profile quality and new material research and development. Yiming believed that at present, the yacht market in Europe and the United States has tended to be saturated, while the domestic yacht market has just started, and the future market space is broad. Foreign yacht manufacturers are optimistic about the Chinese market, and have invested and built factories in China