In the process of internationalization of Chinese bearings, the world's bearing giants have landed in China.
A few days ago, Sweden's SKF bearing company, which ranked first in the world's bearing industry, included Xinchang Peel and Changshan Peel of Zhejiang, China, in the territory of its bearing kingdom.
SKF expansion
On June 25, 2008, SKF issued an announcement in Gothenburg, Sweden, stating that SKF has signed an agreement with the owner of Peel Bearing Company in the United States to acquire Peel and its production sites in China and Thailand.
Founded in 1907, Sweden SKF Corporation is a global leader in the rolling bearing business. With more than 100 years of experience and expertise in bearings and bearing units, seals, lubrication systems, mechatronics and services. SKF has developed into a knowledge-based company. In 2007, SKF had annual sales of more than SEK 58.5 billion.
Peer is a privately-owned bearing company headquartered in the United States. The company's main products are deep groove ball bearings (DGBB) and tapered roller bearings (TRB). The products are mainly sold to the North American market. The company had sales of nearly US$100 million in 2007 and currently employs approximately 1,400 employees. The SKF acquisition of Peel's factories are located in Xinchang and Changshan in Zhejiang, China, and Rayong in Thailand. Zhejiang Xinchang Peel Bearing Co., Ltd. is a Chinese-foreign joint venture invested and controlled by Peel Bearing Co., Ltd., established in 1995. More than 1,000 employees, annual sales of more than 30 million US dollars. Xinchang Peer mainly produces various types of deep groove ball bearings, spherical ball bearings, double row angular contact ball bearings, automotive and agricultural machinery bearings and other special non-standard bearings, used in motors, household appliances, automobiles, food machinery and agricultural machinery and other industries. At present, more than 95% of the company's products are exported to the international market, and large quantities are used as supporting equipment for famous international companies.
After the acquisition, Pierre will be an independent business unit and will appear in the market independently of the existing “Peel†brand. The purchase of Peel Bearings this time is not only SKF's global layout, but also the expansion of SKF's "China territory".
In fact, the history of SKF in China can be described as a long history. In 1916, SKF established its first sales company in Shanghai. At present, SKF has a total of nine production units, more than 3,000 employees and a number of sales companies and service units in China in order to be close to customers. With the development of China's economy, SKF is actively seeking to develop everything possible in China to further establish a production base and expand the Chinese market.
At the SKF Technology Conference held in Shanghai on May 22, 2008, SKF announced that it will expand its production capacity for medium and large bearings in China. The SKF plant in Dalian, Liaoning Province--- SKF (Dalian) Bearings and Precision Technology Products Co., Ltd. launched a three-phase planned investment project in April 2005. This new capacity is the first of its kind. The second phase of investment, the investment amount is 580 million yuan (about 500 million Swedish kronor), the project covers an area of ​​25,000 square meters, close to the existing factory. The project is expected to be put into production in 2009, when the production capacity will be doubled.
The industry has had mixed responses
In recent years, mergers and reorganizations in the bearing industry have been surging, the momentum is booming, Luo Shaxi, Zhe axis, Tian Ma, and Renren... It has been said that the Chinese bearing industry has entered the era of mergers and reorganizations.
Industry experts pointed out that China has become the world’s leading bearing country and ranks among the top three in the world’s bearing industry, but China is not yet a bearing power. According to the data from the China Bearing Industry Association, in 2007, the bearing industry output and main business income of the bearing industry in the country totaled 9 billion sets and 76 billion yuan respectively, an increase of 26.76% and 22.58% respectively from the previous year's 7.1 billion sets and 62 billion yuan respectively. %. According to the nature of the company, the share of state-owned, private, and foreign-funded enterprises is basically 14:66:20, a slight change from the 16:63:21 in 2006. It is worth noting that the share of state-owned enterprises and their revenues are declining. Private enterprises are still showing a growing trend, and foreign-funded enterprises are in a stable growth trend. There is no lack of merger and reorganization.
According to Jiang Mingfu, general manager of Xinchang Peel Bearing Co., Ltd., the acquisition has been discussed for two years. The SKF is a comprehensive acquisition of the Peel Bearing Company in the United States. Therefore, Xinchang Peel, a Sino-foreign joint venture, is naturally included.
“Xinchang County is a major bearing county in China. It has nearly 1300 bearing companies and the annual output value of the bearing industry exceeds 15 billion yuan. Xinchang has the largest car processing and production base in Asia, and the largest bearing enterprise has a production value of 1 billion yuan. However, at present, The development of the Xinchang bearing industry is uneven and the majority of the companies are 'low, small, and scattered'. The arrival of the world's top 500 will undoubtedly promote and accelerate the development of the Xinchang bearing industry, and enhance and pull the grade of Xinchang bearing products. In this sense, We are welcome,†said He Long, deputy head of technology at Xinchang County, who told the China Industry News.
According to Zhang Feng, president of Zhejiang Wuzhou Xinchun Group, the largest bearing company in Xinchang, “it should be said that the arrival of SKF will be beneficial to the development of the Xinchang bearing industry. From the perspective of finished bearings, SKF will bring many new products; The matching parts will bring more demand for accessories. It is understood that at present, one of the Wuzhou New Spring Group has an annual amount of US$50 million for SKF. Perhaps Xinchang Peel's economic scale and influence are not enough, and people in the industry report a dull one.
“Because Xinchang Peel's products are relatively single and the technology level is medium, and SKF has invested in many companies in China, I think the impact of this merger on China's bearing industry is not significant.†Talking about this merger and China When the impact of the bearing industry, President Zhang Feng said.
Luoyang Bearing Institute industry expert Dan Bing Bing believes that the commercial significance of this merger is more important than the strategic significance, SKF has been deployed in many places in China, foreign investment in China's small and medium-sized bearing companies is not surprising, after this kind of thing will happen. What is worrying is that there is a good company where foreign capital comes in for acquisitions, and if it does, the development of national industries and national enterprises will be affected.
Xu Shaoren, deputy chief engineer of Luoyang LYC Bearings Co., Ltd., believes that Pierre's bearing products are narrow. Xinchang Peel's products are mainly foreign trade, and its product structure is not identical to Luo Sha. The intervention of SKF is currently not affecting Luoyang's LYC. Look forward to future development.
The China Bearing Industry Association, which had opposed the opinions of Schaeffler in the acquisition of the Luo Sha axis case, had a very clear attitude to this acquisition. “SKF’s acquisition of Peel is an international practice, and acquisitions between foreign companies are normal. The acquisition of Luo Shaxi is It is a foreign company's acquisition of the vanguard of the Chinese industry. The nature is completely different." He Jiaqun, deputy secretary-general of the China Bearing Industry Association, told the China Industry News reporter.
A few days ago, Sweden's SKF bearing company, which ranked first in the world's bearing industry, included Xinchang Peel and Changshan Peel of Zhejiang, China, in the territory of its bearing kingdom.
SKF expansion
On June 25, 2008, SKF issued an announcement in Gothenburg, Sweden, stating that SKF has signed an agreement with the owner of Peel Bearing Company in the United States to acquire Peel and its production sites in China and Thailand.
Founded in 1907, Sweden SKF Corporation is a global leader in the rolling bearing business. With more than 100 years of experience and expertise in bearings and bearing units, seals, lubrication systems, mechatronics and services. SKF has developed into a knowledge-based company. In 2007, SKF had annual sales of more than SEK 58.5 billion.
Peer is a privately-owned bearing company headquartered in the United States. The company's main products are deep groove ball bearings (DGBB) and tapered roller bearings (TRB). The products are mainly sold to the North American market. The company had sales of nearly US$100 million in 2007 and currently employs approximately 1,400 employees. The SKF acquisition of Peel's factories are located in Xinchang and Changshan in Zhejiang, China, and Rayong in Thailand. Zhejiang Xinchang Peel Bearing Co., Ltd. is a Chinese-foreign joint venture invested and controlled by Peel Bearing Co., Ltd., established in 1995. More than 1,000 employees, annual sales of more than 30 million US dollars. Xinchang Peer mainly produces various types of deep groove ball bearings, spherical ball bearings, double row angular contact ball bearings, automotive and agricultural machinery bearings and other special non-standard bearings, used in motors, household appliances, automobiles, food machinery and agricultural machinery and other industries. At present, more than 95% of the company's products are exported to the international market, and large quantities are used as supporting equipment for famous international companies.
After the acquisition, Pierre will be an independent business unit and will appear in the market independently of the existing “Peel†brand. The purchase of Peel Bearings this time is not only SKF's global layout, but also the expansion of SKF's "China territory".
In fact, the history of SKF in China can be described as a long history. In 1916, SKF established its first sales company in Shanghai. At present, SKF has a total of nine production units, more than 3,000 employees and a number of sales companies and service units in China in order to be close to customers. With the development of China's economy, SKF is actively seeking to develop everything possible in China to further establish a production base and expand the Chinese market.
At the SKF Technology Conference held in Shanghai on May 22, 2008, SKF announced that it will expand its production capacity for medium and large bearings in China. The SKF plant in Dalian, Liaoning Province--- SKF (Dalian) Bearings and Precision Technology Products Co., Ltd. launched a three-phase planned investment project in April 2005. This new capacity is the first of its kind. The second phase of investment, the investment amount is 580 million yuan (about 500 million Swedish kronor), the project covers an area of ​​25,000 square meters, close to the existing factory. The project is expected to be put into production in 2009, when the production capacity will be doubled.
The industry has had mixed responses
In recent years, mergers and reorganizations in the bearing industry have been surging, the momentum is booming, Luo Shaxi, Zhe axis, Tian Ma, and Renren... It has been said that the Chinese bearing industry has entered the era of mergers and reorganizations.
Industry experts pointed out that China has become the world’s leading bearing country and ranks among the top three in the world’s bearing industry, but China is not yet a bearing power. According to the data from the China Bearing Industry Association, in 2007, the bearing industry output and main business income of the bearing industry in the country totaled 9 billion sets and 76 billion yuan respectively, an increase of 26.76% and 22.58% respectively from the previous year's 7.1 billion sets and 62 billion yuan respectively. %. According to the nature of the company, the share of state-owned, private, and foreign-funded enterprises is basically 14:66:20, a slight change from the 16:63:21 in 2006. It is worth noting that the share of state-owned enterprises and their revenues are declining. Private enterprises are still showing a growing trend, and foreign-funded enterprises are in a stable growth trend. There is no lack of merger and reorganization.
According to Jiang Mingfu, general manager of Xinchang Peel Bearing Co., Ltd., the acquisition has been discussed for two years. The SKF is a comprehensive acquisition of the Peel Bearing Company in the United States. Therefore, Xinchang Peel, a Sino-foreign joint venture, is naturally included.
“Xinchang County is a major bearing county in China. It has nearly 1300 bearing companies and the annual output value of the bearing industry exceeds 15 billion yuan. Xinchang has the largest car processing and production base in Asia, and the largest bearing enterprise has a production value of 1 billion yuan. However, at present, The development of the Xinchang bearing industry is uneven and the majority of the companies are 'low, small, and scattered'. The arrival of the world's top 500 will undoubtedly promote and accelerate the development of the Xinchang bearing industry, and enhance and pull the grade of Xinchang bearing products. In this sense, We are welcome,†said He Long, deputy head of technology at Xinchang County, who told the China Industry News.
According to Zhang Feng, president of Zhejiang Wuzhou Xinchun Group, the largest bearing company in Xinchang, “it should be said that the arrival of SKF will be beneficial to the development of the Xinchang bearing industry. From the perspective of finished bearings, SKF will bring many new products; The matching parts will bring more demand for accessories. It is understood that at present, one of the Wuzhou New Spring Group has an annual amount of US$50 million for SKF. Perhaps Xinchang Peel's economic scale and influence are not enough, and people in the industry report a dull one.
“Because Xinchang Peel's products are relatively single and the technology level is medium, and SKF has invested in many companies in China, I think the impact of this merger on China's bearing industry is not significant.†Talking about this merger and China When the impact of the bearing industry, President Zhang Feng said.
Luoyang Bearing Institute industry expert Dan Bing Bing believes that the commercial significance of this merger is more important than the strategic significance, SKF has been deployed in many places in China, foreign investment in China's small and medium-sized bearing companies is not surprising, after this kind of thing will happen. What is worrying is that there is a good company where foreign capital comes in for acquisitions, and if it does, the development of national industries and national enterprises will be affected.
Xu Shaoren, deputy chief engineer of Luoyang LYC Bearings Co., Ltd., believes that Pierre's bearing products are narrow. Xinchang Peel's products are mainly foreign trade, and its product structure is not identical to Luo Sha. The intervention of SKF is currently not affecting Luoyang's LYC. Look forward to future development.
The China Bearing Industry Association, which had opposed the opinions of Schaeffler in the acquisition of the Luo Sha axis case, had a very clear attitude to this acquisition. “SKF’s acquisition of Peel is an international practice, and acquisitions between foreign companies are normal. The acquisition of Luo Shaxi is It is a foreign company's acquisition of the vanguard of the Chinese industry. The nature is completely different." He Jiaqun, deputy secretary-general of the China Bearing Industry Association, told the China Industry News reporter.
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