The hottest Michelin 66.7 billion strategic invest

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Michelin's 667million strategic investment in Huili tire

less than two years after the breakup, shuangqian shares and Michelin "remarried" again, and the latter will become the strategic investor of shuangqian group (Anhui) Huili Tire Co., Ltd., a holding subsidiary of shuangqian shares

shuangqian shares announced today that the company's holding subsidiary shuangqian group (Anhui) Huili Tire Co., Ltd. will introduce strategic investors to increase capital and shares to Michelin finance company and Michelin (China) Investment Co., Ltd. The capital increase is about 667million yuan, all of which is subscribed and paid by Michelin finance company and Michelin investment company

after the capital increase, shuangqian's shareholding in Anhui Huili company will be reduced from 68% to 40.8%, Huayi Group's shareholding in Anhui Huili company will be reduced from 32% to 19.2%, and the newly introduced Michelin finance company and Michelin investment company will hold more than 90million tons and 10% of Anhui Huili company respectively

the market is no stranger to the relationship between shuangqian and Michelin. In 2001, the two sides jointly established Shanghai Michelin Huili Tire Co., Ltd., with Michelin holding 70% and shuangqian holding 30%. However, Michelin Huili company failed to live up to expectations. By February, 2010, when shuangqian shares were listed for sale, Michelin Huili company had accumulated a loss of 1billion yuan in recent 8 years

according to the public information, in the first cooperation, shuangqian shares was only the participant of Michelin Huili company, and lacked the management and supervision power of the company, which became an important reason for the market to explain the failure of the first marriage between the two parties. This time, Michelin was introduced as a strategic investor. Shuangqian stressed that after the capital increase, Huayi Group and shuangqian held 60% of the shares in total, ensuring the controlling position of the Chinese side. Although shuangqian's controlling share of Anhui Huili company decreased from 68% to 40.8%, it is still the largest shareholder

since the sale of the equity of Shanghai Michelin Huili Co., Ltd., shuangqian Co., Ltd. has experienced a business gap in the passenger car tire market. It is urgent to quickly build passenger car tires. Therefore, in december2010, shuangqian announced that it would fully contribute to the establishment of Anhui another Huili company, with a registered capital of 1billion yuan

it is reported that Anhui Huili company plans to build and operate a factory in Wuwei County, Anhui Province. The scale of the factory will reach the world standard. The production scale of the factory is that the first stage of the series of products produced by the company, such as tensile testing machine, electronic universal material testing machine, hydraulic universal material testing machine, horizontal tensile machine for harness terminals, impact testing machine, vibration testing machine, etc., is more than 6million passenger car light truck tires per year. The final production capacity of more than 15million passenger car light truck tires per year will be built within 5 to 8 years from the date of establishment of the Sino foreign joint venture

shuangqian Co., Ltd. said that the capital increase and share expansion is to further accelerate the "Huili" brand car light truck tire business, enhance the core competitiveness of the enterprise by virtue of the respective advantages of Michelin and shuangqian in the car light truck tire business, and develop "Huili" into a medium and high-end car light truck tire brand

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