Hong Kong newspaper July 15th The special signing ceremony for the strategic cooperation between China National Heavy Duty Truck (Hong Kong) Co., Ltd. (abbreviated as “China National Heavy Duty Truckâ€) and German Man Group was held in Hong Kong today. According to the agreement, China National Heavy Duty Truck was awarded a share of 25% by the German company Man Group for approximately HK$6 billion, and was granted exclusive access to the Group's technology use rights. This will provide China National Heavy Duty Truck Group with strong funding and technical support for the production of the next three generations of environmentally friendly trucks. Provincial Party Secretary and Provincial People’s Congress Chairman Jiang Yikang, Provincial Party Standing Committee and Party Secretary Zhu Rongzhu, Provincial Party Standing Committee, Secretary General Wang Min, and Deputy Governor Cai Limin attended the signing ceremony.
According to the agreement, Sinotruk will carry out long-term strategic cooperation with the global truck technology leader Man Group at the technical and capital level. At the signing ceremony, the two parties signed a series of legal documents including the shareholders’ agreement, the technology licensing agreement, the share purchase agreement, and the convertible bond subscription agreement. According to the agreement, the MAN Group will license its advanced truck and engine technology to China National Heavy Duty Truck and its related subsidiaries within the Chinese territory with an exclusive license, and cooperate with China National Heavy Duty Truck Group to produce and sell "technology-boosting" based on this technology. Trucks; Under the condition that China National Heavy Truck Group Co., Ltd. ("TRG") maintains a 51% controlling interest in CNHTC, Man Group will purchase approximately 599 million new shares of convertible bonds and purchases from CNHTC. About 91 million companies have issued shares and obtained 25% plus one share of Sinotruk, involving a total investment of 6.048 billion Hong Kong dollars. The conversion price for each conversion share and the purchase price per issued share was approximately HK$8.76, a premium of approximately 16.6% over the last closing price before the suspension of the company of HK$7.51 per share. After the transaction is completed, the two parties will cooperate in the production and quality control, sales and after-sales service of the "technical upgrading" trucks and the Euro III, Euro IV and Euro V engines.
At present, China has become one of the world's largest heavy truck markets. Steady growth in macroeconomic and fixed asset investment has created good external conditions for the healthy development of the heavy truck industry. With the improvement of environmental protection requirements and emission standards, the core competitiveness of the industry has also shifted from low-cost to high-technology, and foreign heavy-duty truck companies have established certain competitive advantages in the high-end market by virtue of their long-term accumulation of core technologies and product positioning. The industry-leading China National Heavy Duty Truck to seize the opportunity, through strengthening the R & D investment, improve the industrial chain and sales network and other ways to form a core competitiveness and expand market share. As a global leader in truck technology, MAN Group mainly produces trucks, passenger cars, diesel engines and turbines, and ranks as an industry leader in these fields, especially in heavy trucks and engines. It has a high reputation and strong competitiveness. .
Chairman of China National Heavy Duty Truck Group Ma Chunji said at the signing ceremony: “China National Heavy Duty Truck through the introduction of the advanced technologies of the MAN Group in engine and vehicle R&D, and digest, absorb and reinnovate, will make the core competitive advantage more obvious. With the cooperation of Man Group in business management, we can learn the management experience and quality assurance system of foreign advanced heavy truck manufacturers, improve the operating capacity and management efficiency, and more importantly, we in this agreement will be Euro III, Euro IV and Euro V. The right to use the engine production technology has been included in the scope of cooperation. It has solved the problems of CNHTC's next three generations of environmentally friendly truck production technologies at one time, and reflects the company's core philosophy and spirit of 'leading technology, one step, and step by step'. ."
Hanken Samuelson, CEO of the German Man Group stated: "This cooperation is the result of our many years of good relationship with China National Heavy Duty Truck Group Co., Ltd.'s investment in China National Heavy Duty Truck Co., Ltd. to jointly develop a new truck series specifically targeting emerging markets. We have laid a foundation and we look forward to providing support for the continued positive development and continuous leadership of China National Heavy Duty Truck in China."
Lu Rongzhu represented the city with the “Honorary Citizen of Jinan City†certificate awarded by Mr. Rhinehart Mosel, Manager of the International Cooperation Department of MAN Commercial Vehicles AG in Germany, in recognition of his contribution to the international cooperation of Sinotruk.
Municipal leaders Sun Xiaogang and Chen Xianyun attended the signing ceremony.
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