China Zhejiang Wanfeng Technology Development Co., Ltd. acquired US$302 million for the US Paslin Company and officially delivered it at the Hoover factory in the United States on April 18. This is another major event after Wanfeng Group successfully acquired Meridian, the world's leading magnesium alloy auto parts company, at the end of 2013, and achieved a remarkable performance of ten times growth within two years. International mergers and acquisitions.
Founded in 1937, PASLIN is headquartered in Warren, Michigan, USA. It is a leading international welding robot application system service provider, a major supplier of arc welding systems in North America, and a recognized expert in the field of special connection and resistance spot welding. Provides automated system solutions for the automotive industry and heavy industry production in the United States with its leading automation system concepts and engineering capabilities.
Figure 1: On April 18, 2016, Wanfeng dispatched the company to hold a grand opening ceremony.
Wanfeng's three major considerations for the acquisition of American robotics companies
Wu Jinhua, president of Wanfeng Jinyuan Holding Group and chairman of Zhejiang Wanfeng Technology Development Co., Ltd., unveiled three major reasons for the merger:
First, to build a core competitiveness in the global perspective. Through the acquisition of PASLIN, Wanfeng Technology will transform and upgrade from internationalization to capital, talent, technology and brand internationalization, and become a “dual-core†international industrial layout system with US technology R&D center and China Operations Headquarters.
Second, advanced technology is grafted to China. PASLIN has accumulated top-level technology and customer base in the field of welding automation in North America for nearly 80 years, but its market is limited to the North American region. Through this acquisition, PASLIN's internationalization strategy has been successfully realized. It can not only enhance the international advanced technology through digestion and absorption, but also enhance the competitiveness of Wanfeng robot system integration products, and share the huge market cake in China by competing with the world-class enterprises.
Figure 2: On March 24, 2016, the delivery was completed one week ahead of the M&A agreement.
The third is to give full play to the synergy effect of mergers and acquisitions, and open up the upstream and downstream industrial chain of Wanfeng intelligent equipment. Wanfeng Technology currently mainly involves the research and development and manufacture of industrial robots and industrial automation equipment, and provides non-ferrous alloy casting turnkey engineering services. PASLIN is mainly engaged in the design and system integration of automated production lines with industrial robots as an important component. . After the merger, Wanfeng Technology's industrial chain will be extended from the previous components to the single unit to the production unit, and finally to the system integrator of the automated production line. It also opened up the upstream and downstream of Wanfeng Technology from the robot body to the large-scale robot system integration. The industrial chain provides subdivision technical support for the realization of “Made in China 2025â€.
Kirk Goyns, CEO of PASLIN, said: "We are very pleased to join Wanfeng Enterprise Group and believe that the merger will benefit our customers, employees and business partners to help us achieve significant growth and expansion quickly. Wanfeng's financial strength and operational capability, its excellent research and development spirit, will promote PASLIN to continue to grow and better serve new and existing customers, and make us a leader in technology development and innovation."
Ms. Chen Ailian, Chairman of the Board of Directors of Wanfeng Group, said: “The development environment in Michigan is very good. Our cooperation with Michigan is a breeze. Wanfeng will upgrade from internationalization to capital internationalization and will promote the listing of robot companies. To lay the foundation for the global industry segment. China is the largest international market with great development space. The team of PASLIN is very good. I am full of confidence in the future of the company. In the near future, the scale of our robot industry is expected to exceed 100. Billion mark."
The intermediaries participating in this merger represent Mr. Fan Qinhua, President of the US Zhiding Financial Consulting Company, and Mr. Wang Shusheng, the partner of Mingkang Law Firm of the United States. He also said that he is very happy to cooperate with the Wanfeng team: “The Wanfeng M&A team is young, knowledgeable and professional. Internationalization, such a large project took only five months to complete the whole process from negotiation to negotiation, government approval and delivery. The pragmatic and efficient Wanfeng style and successful manufacturing background is this. This time, the key to the competition among many international buyers is the key."
We are the Flow Meter manufacture and supplier in China, we have Fixed Type Ultrasonic Flow Meter is widely used for online flow measurement of various industrial liquid. Transmitter type include wall mounted A type, wall mounted B type, wall mounted explosion type, panel type, local display type(F4 type transmitter) and module type; transducer type: clamp-on, insertion and pipeline type; portal Ultrasonic Flow Meter; Electromagnetic Flow meter; gas turbine flow meter; Thermal Mass Flow Meter; Handheld Ultrasonic Flow meter; Vortex flow meter; Turbine Flow meter. Welcome to visit and purchase.
Flow meter, Ultrasonic Flow meter,portal Ultrasonic Flow Meter; Electromagnetic Flow meter; gas turbine flow meter; Thermal Mass Flow Meter; Handheld Ultrasonic Flow meter; Vortex flow meter; Turbine Flow meter
Changshu Herun Import & Export Co.,Ltd , https://www.herunchina.com