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Guangdong enterprises gain another victory. Desai Group officially announced yesterday, after two years of negotiations finally Siemens VDO (VDO) of all automotive electronics company in the equity income Kuonang, Desai, chairman, president, Jiang Jie, an interview said the new capital increase will continue established Desaixiwei automotive electronics company, plans to achieve in five years automotive sales revenue of more than 10 billion yuan, hit create a new core business Desai Group growth pole.
Desai acquisition of Siemens VDO
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Data, electronic information in China, ranked 17 Desai hundred groups, industries related to digital audio, 3G communications, automobile electronics, precision components, LED, new energy and other fields, which owns companies Desai Battery (000049.SZ). The company is a multinational Siemens VDO automotive electronics products in key global R & D, manufacturing center, not only has the world-class R & D center and management team, clients include Volkswagen, General Motors, FAW almost all automobile manufacturers, its market share in similar areas of automotive electronics products occupy the first.
Reporter confirmed that this cross-border mergers and acquisitions involving several hundred million dollars quite dramatic. Prior to Siemens VDO has 70% stake in the company, Desai 30% stake in the Group. With the global automotive industry in recent years, especially rapid expansion of China automobile industry, Siemens area plan from 2008 the company owned automotive electronics, and made cash Desai, 30% of all equity holdings. However, in view of China has leapt to the world’s largest automobile manufacturer in the automotive electronics industry has tremendous room for development, Desai group plans counter-takeover. March this year, Desai finally completed the acquisition of Siemens VDO’s wholly-owned, while retaining all the successful management team. The Desai Group also like to take this in one fell swoop has become one of the largest automotive electronics design and manufacturing.
“Anti-takeover success due in part to the financial crisis and market opportunities.” Jiang Jie received a press interview with Nanfang Daily said, and Desai by VDO automotive electronics business sector, the original reorganization and integration, Automotive Group will be the core industry focus Desai focus groups will further expand investment in the automotive electronics industry. “We are planning to use 5 years time will Desai Automotive into a global brand, sales income of more than 10,000,000,000 yuan.”
General Counsel of China Association of Automobile Shen Ning Wu comments to reporters, said the acquisition will also help with the Chinese companies continue to promote independent innovation in the automotive market competitiveness. The automotive electronics business to stay featuring Desai, general manager of the Chun-Lin Chen received an interview with Nanfang Daily predicted that Chinese consumers with vehicle safety, comfort, information, entertainment and other requirements of the release, automotive electronics account for the proportion of vehicle cost increasing and is expected to scale China’s automotive electronics are expected to exceed annual compound growth rate of 30%.
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