Xiang-axis acquisition of Poland's largest bearing company

Publish Date 2018-09-28
August 2, Xiangyang Automobile Bearing Co., Ltd. to 203 million yuan acquisition of Poland's largest bearing manufacturer - 克拉希尼克 Rolling Co., Ltd. (hereinafter referred to as KFLT) equity settlement signing ceremony was held in Warsaw, Poland, Xiang-axis Directors Polish soldiers with little taller industrial Development Authority deputy director Marcin, Deputy Director George Gola jointly signed the "share Transfer Agreement", and in the day of completion of share certificates due payment and delivery. At this point, Xiangyang bearing official holds 89.15% stake in the company KFLT. It is reported that Xiang-axis state-owned enterprises in Hubei Province this acquisition to become the first case of overseas mergers and acquisitions, but also overseas acquisitions of domestic enterprises bearing the largest cases.

KFLT located in Lublin, Poland Province 克拉希尼克 City, mainly engaged in automotive roller bearings, ball bearings, industrial bearings and special bearings and other types of large-scale wind power bearing products manufacturing and sales, is PSA Peugeot Citroen, Renault, Magna World famous auto companies and other enterprises supporting host provider, occupies about 8% of Polish products bearing market share.

According to the tricyclic group vice president, Xiang-axis chairman, general manager Gao less Bing, the European debt crisis to the Chinese enterprises overseas M & A opportunities, Xiang-axis seize the new round of international industrial restructuring opportunity, through the way overseas acquisitions the chain extends to overseas as early as possible to achieve Xiang-axis proposed international development strategy.

Currently, the company's annual Xiang-axis exports nearly 200 million yuan, and has established international trade company in Warsaw, Frankfurt International Trade Company, the Hong Kong investment company, Luxembourg investment company, Shanghai International Trade Company, and is the United States and India to build sales organizations. Next, Xiang-axis with KFLT will give full play to their respective advantages, through management, technology, marketing, personnel and other factors of resource sharing, to create the world's leading bearing companies.

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