Overseas bargain-hunting started Beijing West Heavy Industry to spend 6 billion U.S. dollars to "take over" Delphi

It seems that Beijing is a real thing this time.

For the Beijing auto industry, if we want to truly surpass competitors like Shanghai and Guangzhou, we must start with the most basic components industry.

BWI is a joint venture company established by Beijing Municipality to promote the acquisition. The company will establish a high-end auto parts industrial base in Doudian. The three shareholders of the company are Beijing Fangshan State-owned Assets Management Co., Ltd., Shougang Corporation and Baoan Investment Development Co., Ltd. Among them, Shougang Corporation invested 408 million yuan, accounting for 51% of the shares, the latter two were invested 200 million yuan and 192 million yuan, respectively, accounting for 25% and 24% of shares. Baoan Investment Development Co., Ltd. belongs to Tianbao Group.

Once the acquisition is successful, the Beijing Municipal Government will promote the largest case of Chinese auto parts companies participating in international mergers and acquisitions since the financial crisis.

People in the industry believe that this time Beijing’s development of the acquisition was a relatively weak foundation for the Beijing auto industry for many years. “Unlike Shanghai and Guangzhou, with the settlement of Shanghai Volkswagen, Guangzhou Honda, and Guangzhou Toyota, local parts and components supply systems have been formed. The vehicle companies in the Beijing region mainly include Beijing Benz, Beijing Hyundai and Beiqi Foton. The parts and components of the first two joint ventures are mainly supplied by foreign parties, and the core facilities of Beiqi Foton are not in Beijing. The Beijing auto industry has no power in the spare parts supply system."

On the other hand, under the impact of the economic crisis, the United States and many auto parts manufacturers around the world have also “lost their gates”, giving the Chinese auto industry a chance to go out and “bottom the bargain,” and “cheap goods will become more and more More, "said a parts supplier.

It can be said that the financial crisis has given the Beijing auto industry an opportunity to catch up.

Previously, Geely Automobile has won the world's second largest transmission company DSI, together with Weichai Power and a French parts company's contacts, etc., these can be regarded as Chinese auto companies in the financial crisis, the Chinese auto parts industry The sign that overseas acquisitions entered the substantive start-up phase.

Spends 6 Billion U.S. Dollar to Want to "Depend" on Delphi

Beijing's "ambition" is not just a brake and suspension system for Delphi. It is more likely to be a complete acquisition plan. With regards to the booming BWI acquisition of Delphi, the reporter learned of its latest progress on the 7th: The Beijing municipal government has prepared 6 billion U.S. dollars of acquisition funds for this purpose and plans to acquire Delphi's entire business within the next three years.

On March 30th, Jingxi Heavy Industry signed an agreement with Delphi Corporation, the largest US parts and components company, in Detroit to acquire the global R&D and production system for automotive suspensions and brakes. The acquisition involved an amount of USD 100 million. The acquisition project is currently under review in the Southern Court of New York in the United States and is expected to close before November 1 this year.

According to an informed source close to Delphi, the brakes and suspension systems that had just concluded an intention to sell with BWI were not Delphi’s core business and belong to the assets of Delphi Holdings. In order to obtain the core technology of Delphi, the Beijing Municipal Government has already prepared 5 billion U.S. dollars in acquisition funds. However, in order to acquire more core assets as soon as possible, Beijing has increased its “chips” by 1 billion U.S. dollars.

According to the personage informed, Delphi, which was bankruptcy-protected from October 2005, has very tight cash flow. Under such circumstances, if Delphi insists on retaining its core business, it will have to use question marks. Its core business is Mainly engine power system, car safety, car entertainment and so on. For non-core assets, Parker Electric, steering systems and exhaust systems are all on the sale agenda. However, because General Motors is also stuck in bankruptcy, the plan to sell the system to General Motors has failed.

The person familiar with the matter said that after the acquisition of Delphi's brakes and suspension system, Jingxi Heavy Industries planned to set up a management team to deal with international cooperation issues because of its huge overseas affairs. More importantly, this acquisition has given Jingxi Group a good harvest: In addition to acquiring Delphi's intellectual property rights and the world’s most advanced parts manufacturing technology, Jingxi Heavy Industry will be expected to become the world’s leading automotive zero after the acquisition is completed. Component manufacturers will also "take over" all Delphi customers and global marketing networks.

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