Power equipment manufacturers xd's plans to buy ge transformer assets

by:V&T Technologies     2020-03-17
Electric power equipment manufacturer China xd group co. , LTD. ( Hereinafter referred to as & other; Xd group & throughout; ) Prepare the highest for the price of $1 billion, acquisition ProlecGE power transformer manufacturers. On May 14, bloomberg reported that xd group are making preliminary discussions on these matters. By the American general electric (ProlecGE GE) A joint venture with a Mexican company, operating income of about $600 million last year, ge has 49. A 99% stake. Ge China yesterday declined to comment on the news. Xd group, China xd electric co. , LTD. (listed company 601179, China xd) Chairman secretary office staff, said in China xd with ge cooperation agreement, both sides do contact on the purchase, but now there is no substantive progress. China xd with ge alliance is full a year. On May 8, 2012, China xd's announcement, establishing strategic alliances with ge, concrete cooperation include: setting up automated joint venture company, ge will to the joint venture company transfer of secondary equipment automation related technology; Ge China xd's strategic investment, overseas global business cooperation both sides according to the contract. Specifically, China xd with ge in automation in the joint venture equity accounted for 59%, 41% respectively, the company registered capital is 6. 300 million yuan, the total amount of investment of 12. 600 million yuan; In addition, ge cash subscribed 15% stake in China xd ( After the purchase) About 33, transaction amount. 800 million yuan. The China xd staff explained to morning paper reporter, the joint venture company has set up a complete and has set up a public announcement, and ge subscribe shares are waiting for the approval from the securities and futures commission, has not been completed. In addition, the so-called power transmission and distribution equipment in the territory of China and how to carry out comprehensive cooperation, mainly refers to the marketing, the two sides made the contractor project, introduced the other equipment, provides is an equipment of China xd, and for the secondary equipment provided by ge. A device, refers to the directly used in production and use of electricity equipment, including generator, transformer, etc. And a device for monitoring, measurement, control, protection, adjustment of accessorial equipment, is called the secondary equipment. The staff explained that the significance of alliance agreement to China xd for two things: the secondary equipment is obtained by the joint venture company technology, improve equipment in overseas sales. “ Protocol framework, there is no specific set of ge China xd's producers to make acquisitions. ” Martec Wallace (zhe China Shanghai) Investment management consulting co. , LTD. , director of energy power Cao Yin to morning paper reporter, in emerging economies such as China technology improved, the cost is relatively low, the European and American companies in the field of an equipment is large shocks, such as Siemens, ABB companies are lower labor costs to set up production bases in Asia. And ge are adjusting the internal structure, more and more attention to mineral mining, water treatment and other fields, if the development potential is relatively modest equipment manufacturing companies to sell at a time, you can focus on development of these areas. For China xd, also can take this to the north American market expanding. In addition, some analysts noted that in the global scope of the equipment in the field at a time, ge in the competition with Siemens, ABB went by.
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