Caterpillar continues to be a "strategic investor" in China.
caterpillar continues to be a "strategic investor" in China.
China is a big country. China Construction Machinery Information
Guide: I can't figure out how we became famous in China with malicious acquisitions. Le Wenli, global president of caterpillar, seems very aggrieved. Caterpillar does not have a complete acquisition in China. M & A will never become the main way for us to develop in China. In the future, caterpillar will base itself on the existing production base
"it's hard to figure out how we became famous in China with 'hostile acquisition'," Le Wenli, global president of caterpillar, seemed very aggrieved. "Caterpillar does not have a complete acquisition in China. Mergers and acquisitions will never become the main way for our development in China. In the future, caterpillar will expand in China based on its existing production base." Le Wenli, the president of the company, reiterated in an exclusive interview with Shanghai Oriental Morning Post yesterday. M & A is not the main direction. Le Wenli comes to Shanghai once a year. Many Chinese people, including government officials, will talk about M & A with him. While Le Wenli "clarifies the misunderstanding" again and again. "Caterpillar absolutely does not want to establish its leading position in China through mergers and acquisitions." this is an important part of the strategic emerging industries of TBEA 1 high tech, 2 new and 3 major countries. "The transformation to the thermoplastic direction he will emphasize every time." authorized production, joint venture and sole proprietorship are our important development directions. "
Le Wenli said that M & A in China is only an action that caterpillar will take under "very limited conditions", which must meet the three conditions of "being good for China, being good for the company's human resources, and being good for the industry. The indentation diameter D is often used to indicate that the hardness of the material is good for the development of business". M & A is not malicious at all, but only a normal action carried out in accordance with China's WTO commitments
Le Wenli stressed that caterpillar is not so much a "buyer" or "industrial investor" of Chinese enterprises as a "strategic investor". For strategic investors, it will be the biggest damage to their long-term interests if they only seek immediate interests and harm the interests of their host countries. Thus, "monopoly" is more unrealistic. Le Wenli said, "monopoly is illegal and will also harm China's interests."
expand the existing production base
Le Wenli pointed out that he would communicate more frequently with China on caterpillar's China strategy, "I believe they will understand us". At present, caterpillar has no further acquisition targets in China, "and will expand based on the existing production base." At present, caterpillar has 13 production bases in China. According to le Wenli, Caterpillar (Xuzhou) Co., Ltd. will become the main platform for its development and integration in China
in fact, Le Wenli has "high hopes" for the Chinese enterprises that caterpillar is rumored to acquire. He said that China's construction machinery industry is relatively fragmented, and some of it will be greatly developed in the future. "In the future, a considerable part of Caterpillar's global competitors will come from China." Caterpillar acquired 40% of the shares of Shangong machinery last year. According to the rumors in the industry, the negotiation objects of mergers and acquisitions once included leading enterprises of China's construction machinery, such as Guangxi Liugong (10.68,0.01,0.09%), Weichai Power, Xiagong and Shangchai shares (7.52,0.06,0.80%)
in Le Wenli's view, China's great development is the biggest opportunity for caterpillar to provide construction machinery. "I'm glad to see our equipment on the construction site of the WorldExpo." According to the plan, the global sales volume will reach 50billion US dollars in 2010, and China's market share is huge
"I hope you don't just listen to what others say, but look at our specific actions", Le Wenli told Shanghai Oriental Morning Post