主题:Volvo buys 70% of Lingong -- 悲欢
Date: September 27, 2006
Editor: Claire Symes
CHINA: Volvo Construction Equipment has signed an agreement to buy a 70% share of China-based Shandong Lingong Construction Machinery for an, as yet, undisclosed sum.
Volvo’s investment in the Lingong, which recorded a turnover of RMB 2 billion (US$ 250 million) in 2005, is subject to regulatory approval. Both companies have said that the value of the deal will be revealed when the agreement is approved, which Volvo expects will happen in the “near future”.
“This is a long term strategic investment which will put Volvo in a very strong position in China’s construction equipment market,” said Volvo president and CEO Tony Helsham. “The cooperation with Lingong is a significant step in our vision for China and our global strategy.”
China is the world’s largest market for wheeled loaders with sales of around 110000 units in 2005. Lingong is China’s fourth largest producer of wheeled loaders with a market share of around 11% in 2005. According to Mr Helsham, the investment will enable Volvo to strengthen its position by serving its Chinese customers with other construction equipment beyond its current premium products.
“At the same time we will continue to develop and produce our high end wheeled loaders in our facilities in Eskiltuna and Arvika, Sweden, Asheville, US and Pederneiras, Brazil,” said Mr Helsham.
Lingong, which is based in Linyi in China’s Shangdong Province is expected to continue to build entry level products, which currently includes 16 different wheeled loaders models, backhoe loaders, road rollers and excavators. “With Volvo’s product support, technology and financial strength behind us, we will be well positioned to further develop the Lingong brand in China, as well as expand overseas,” said Lingong chairman Wang Zhizhong.
Although the financial details of the deal have been withheld, Volvo has said that the deal will not have any significant impact on Volvo’s earnings or on the financial position of Volvo.
- 相关回复 上下关系8
🙂Volvo buys 70% of Lingong
🙂是改姓,不是卖首。不卖,很快就没首了。 高朋满座 字0 2006-10-19 10:49:19
🙂为什么这么多生存状况还可以的大型重工业要插标卖首呢? 不是老陈 字0 2006-09-29 07:22:10
🙂不这么做管理层怎么套现啊? laozhong 字180 2006-10-16 18:18:36
🙂这是好事 悲欢 字227 2006-10-07 21:21:05
🙂关键还是管理 精装白沙 字62 2006-10-16 06:04:50
🙂不是MBO就是南弗电池的样板,卖就解决问题? bqsc 字0 2006-10-16 04:20:17
🙂原创/文摘?请在标题栏上加。 闲看蚂蚁上树 字38 2006-09-27 22:16:18