www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Merger and acquisition

CSR looks for European M&A opportunities

By Ding Qingfen and Chen Jia in Yokohama, Japan and Liu Yiyu in Beijing (China Daily) Updated: 2012-07-06 10:43

China Southern Locomotive and Rolling Stock Industry Group Co Ltd, the country's largest train maker, said it is in contact with a British railway signaling company and several others about possible acquisitions as the European debt crisis causes financing difficulties for its European counterparts.

"The crisis has created good possibilities for mergers and acquisitions in that current prices are attractive," said CSR Chairman Zhao Xiaogang.

"However, the best time has yet to come as the current crisis has not bottomed out," Zhao said, adding that no actual moves have been taken by far.

"We're still not clear about the target value."

The Sunday Times had reported that CSR was considering a takeover bid for British company Invensys Plc, which makes railway signaling systems.

Design flaws in signal equipment were cited as a reason for the high-speed train crash which killed dozens of people in Wenzhou, Zhejiang province last year. The authorities have since made efforts to strengthen railway safety.

Overseas investment is one of the company's most important strategies, according to Zhao.

Like CSR, a number of other Chinese companies are speeding up overseas merger and acquisition activities this year, which, experts said, can help them gain market access and advanced technology.

Sany Heavy Industries Co Ltd completed its acquisition of German concrete machinery maker Putzmeister Holding GmbH in January, followed by Liugong Machinery Corp's acquisition of Polish heavy equipment company HSW SA, and Shandong Heavy Industry's takeover of Italian yacht maker Ferretti Group in the same month.

Zhao predicted that CSR's exports will increase by 50 percent this year, contributing 20 percent of its total revenue. Meanwhile, new orders are likely to skyrocket, doubling from last year, partly because its competitive prices and high quality are gaining increased global recognition.

Emerging markets, including Southeast Asia, Africa and South America, account for more than 90 percent of CSR's overseas sales.

CSR's profits increased 50 percent year-on-year in 2011 to 5 billion yuan ($787 million).

Its competitor, China Northern Locomotive and Rolling Stock Industry Corp, is also speeding up overseas activities, with overseas demand likely to outstrip domestic demand this year.

CNR has supplied freight trains to Australia, New Zealand, France, as well as to countries in Central Asia and South America. Apart from trains, the company recently exported control system technology to Bangladesh.

China plans to spend 400 billion yuan this year on railway projects, down from 469 billion yuan in 2011, and more than 700 billion yuan in 2010.

According to CSR's estimate, China will have 100,000 kilometers of railways by the end of this year.

Contact the writers at dingqingfen@chinadaily.com.cn and chenjia1@chinadaily.com.cn

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美18毛片免费看 | 一区二区精品在线观看 | 免费的三级网站 | 草草免费观看视频在线 | 99久久综合精品免费 | 国产精品无码久久av | 欧美三级网站在线观看 | 日韩一区二区三区在线视频 | 久久精品国产只有精品6 | 99久久精品免费国产一区二区三区 | 国产精品揄拍一区二区久久 | 久久aⅴ免费观看 | a国产成人免费视频 | 欧美白人最猛性xxxxx | 亚洲一区免费 | 亚洲天堂网在线观看 | 99久久在线 | 欧美人一级淫片a免费播放 欧美人与z0z0xxxx | 步兵一区二区三区在线观看 | 久久精品一区二区三区中文字幕 | 亚洲最大免费视频网 | 奇米第四狠狠777高清秒播 | 性感美女一级毛片 | 亚洲人在线播放 | 国产精品久久久久久久久久久久久久 | 亚洲国产专区 | 国产a毛片 | 国产成年人 | 99久久精品国产自免费 | 99爱在线精品视频网站 | 欧美老妇免费做爰视频 | 亚洲精品一区91 | 99视频在线精品 | 国产精品高清全国免费观看 | 欧美成人tv在线观看免费 | 狠狠色丁香九九婷婷综合五月 | 国产三级精品最新在线 | 在线看片日本 | 成年人免费小视频 | 久久九九热视频 | 国产精品久久久久久久久免费 |