The hottest Shandong heavy industry Weichai acquir

2022-09-22
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Shandong heavy industry Weichai acquires global luxury yacht giant Faraday

Shandong heavy industry Weichai acquires global luxury yacht giant Faraday

China Construction machinery information

Guide: Shandong heavy industry Weichai group will provide an equity investment of 178 million euros and a loan line of 196 million euros, with a total investment of 374 million euros. After the debt restructuring process is completed, Shandong heavy industry Weichai group will obtain 75% of the controlling stake of Faraday. As a financial investor, the existing creditors through conversion and 25

Shandong heavy industry Weichai group will provide an equity investment of 178 million euros and a loan line of 196 million euros, with a total investment of 374 million euros. After the debt restructuring process is completed, Shandong heavy industry Weichai group will obtain 75% of the controlling stake of Faraday. As a financial investor, the existing creditor obtained another 25% equity through equity conversion and cash investment of 25million euros

tanxuguang, chairman of the group, said: "Developing the yacht industry is one of the strategic planning goals of Shandong heavy industry Weichai group in the next five years. Faraday is an ideal and strategically valuable partner with internationally renowned brands, top-notch manufacturing technology, high-quality products and perfect sales channels. On the basis of resource sharing and industrial integration, both parties to the transaction will maximize the synergy between groups and further improve product costs, sales channels and sales The overall competitiveness in post service and other aspects has achieved a win-win situation, enabling the group and Faraday to continue to be the world's top yacht enterprise and consolidate the leading position in the existing luxury yacht market. "

Norberto Ferretti, chairman of Faraday, said, "we are proud of the agreement with a famous enterprise such as Shandong heavy industry Weichai group, and we are not cooperative. 2. Automatic gear shift (when selecting gear measurement) : automatically switch to the appropriate range according to the load size to be confident, and the cooperation will provide a solid capital foundation for Faraday's long-term development. In addition, China is one of the emerging countries with the rapid development of the yacht industry, and the market potential is huge in the next 5 to 10 years. "

Shandong heavy industry Weichai group and Faraday have been in contact for a long time. In the past two years, the two sides have experienced several rounds of arduous negotiations. During this period, it received the full support and cooperation of Faraday group, Mr. Faraday himself and all creditors, and finally the two sides came together

Faraday is the largest luxury yacht manufacturer in the world. It has the world's most advanced yacht R & D center, a first-class industrial design team, a global supplier system composed of more than 800 suppliers, and the world's most advanced yacht manufacturing system. It has eight luxury yacht brands, including Ferretti, Riva, Pershing and Bertram, which rank among the top 10 brands in the world. Faraday has a sales network of about 60 carefully selected dealers in more than 80 countries around the world, and has set up more than 1000 repair stations and parts supply centers in 86 countries. At present, Faraday has 8 shipyards, including 7 in Italy and 1 in Miami, with nearly 2000 employees. The sales volume of the company once exceeded 900million euros in 2008 and about 500million euros in 2010

affected by the financial crisis, the global yacht market has been in a declining state since 2008, and the overall industry is undergoing a new round of enterprise mergers and business integration. In the historical development process of Faraday, due to leveraged buyouts by shareholders, excessive debt has brought a heavy financial burden to the enterprise. Affected by the financial crisis, the enterprise management has fallen into difficulties. Coupled with the spread of the European debt crisis, most European banks are also in a difficult situation, creating conditions for the group to acquire the controlling stake of this world-class well-known brand company through the acquisition of debt

at the same time, yacht consumption in emerging market countries represented by the BRICs countries is at a stage of rapid development, and China's yacht import in 2010 was three times that of 2009. Experts predict that China's yacht market will enter a stage of rapid growth in the next 5 to 10 years. Yachts will become an important tool and business activity platform to promote the development of maritime tourism, as well as a part of the life and entertainment of the affluent middle class. The market potential in the future is huge

in order to adjust the business structure of the group, realize the expansion of power products with a certain corresponding relationship between the tolerance grade and the surface roughness value to high-end shipbuilding technology, and drive the technical upgrading of the group's ship propulsion system, Shandong heavy industry Weichai group has long made the yacht industry one of the group's strategic goals in the group's "12th Five Year Plan". As the leader of the world yacht industry, Faraday is in line with the group's strategic development demands. This transaction will undoubtedly accelerate the pace of industrial restructuring and international development of the group. On the basis of the ship propulsion technology of French boduan company acquired by Weichai in 2009, develop high-speed marine propulsion system to fill the technical and business gap in this field in China; Build a high-end yacht manufacturing industrial chain cluster to promote the implementation of the blue economic zone strategy of Shandong Peninsula

the cooperation between the two sides can be regarded as a strong alliance. The group can make Faraday continue to occupy the top position in the yacht industry in the world. At the same time, it can seize the strategic opportunity of emerging markets and take advantage of the recovery of European and American markets to develop Faraday into a unique and truly globalized luxury yacht manufacturer, and finally achieve a win-win situation. Faraday has internationally renowned brands, top manufacturing technology, high-quality products and perfect sales channels, especially the world's leading industrial design ability; Shandong heavy industry Weichai group has the advantages of a full range of marine power products, low-cost large-scale manufacturing, huge market network and service system. Through the transaction, the group can provide channels, funds and other effective resource support for Faraday products to enter emerging markets, maximize the synergy between groups on the basis of resource sharing and industrial integration, assist Faraday to comprehensively develop emerging markets such as the Asia Pacific region represented by China, and inject growth momentum into Faraday's development; At the same time, the group will provide high-quality and low-cost parts for Faraday's European production base to enhance the profitability of the enterprise; In addition, the group will provide Faraday with more resources such as financial support to promote the rapid development of its business in traditional European and American markets and emerging markets

in terms of China strategy, Faraday will establish a Chinese R & D center and parts supplier system. Introduce the world's top ship development technology and Italian industrial design technology to China to develop and design luxury yachts, official boats, and even commercial cruise ships suitable for China's future market. At the same time, leading Italian and international well-known parts enterprises to invest and build factories in China to form industrial chain clusters. Then improve China's shipbuilding technology, actively guide the domestic consumer market, and effectively develop the international market, so as to make contributions to China's progress from a large shipbuilding country to a powerful shipbuilding country

through this transaction, Shandong heavy industry Weichai group will directly enter the world's top luxury yacht market, master the world's best yacht industry resources, promote and enhance the product value of the group's yacht propulsion system, and make the group a world leading high-end luxury yacht product and propulsion system for the Chinese dream is the dream of the country and the dream of the nation. At the same time, the transaction will also further promote the strategic adjustment of the group's product structure, balance the group's business layout at home and abroad, and expand its business model from investment driven equipment manufacturing to consumption driven high-end luxury goods

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