Chinese vehicle enterprises reorganize into a new CHANA Automobile Group, ranking 3rd in the auto industry |
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Report from Northeast Website on November 10th. CSGC and the Aviation Industry Corporation of China signed a reorganization agreement on the morning of November 10th. CHANGHE and HAFEI affiliation and the China Aviation Industry Group are now known as the CHANA Automobile Group. It has become the largest scale merger and acquisition case in recent years.
CHANA Auto Group affiliated to CSGC, merging in AVIC autos and the Aviation Industry Corporation of China. HAFEI automobiles, CHANGHE automobiles, DONGAN Automobile Engine and DONGAN Sanling affiliated to AVIC and have joined the CHANA Auto Group. This is the first large-scale, cross-department, deep cooperation in the field of National Defense and Science Industry products for civil use. It has also been the largest-scale strategic reorganization between central enterprises in the field of automobiles.
According to the reorganization program, stocks of HAFEI automobiles, CHANGHE automobiles, DONGAN Automobile Engine, CHANGHE Lingmu and DONGAN Sanling holding by AVIC are appropriated to CHANA Auto Group affiliated to CSGC. The two groups are reorganized into new CHANA Auto Group Ltd. CSGC holds 77% of stocks while AVIC holds 23%.
CHANA originally has the production ability of 1.5 million cars and adds the production ability of 0.4 million cars of HAFEI, 0.45 million engines of DAE, 0.3 million of CHANGHE automobiles and 0.15 million engines. This will make the production ability of CHANA reach more than 2 million cars. According to the data of the Association of China Automobiles, the scale of new CHANA after reorganization will exceed Dongfeng autos. This affiliation puts the company in the top 3 of the auto industry with Shanghai Autos and The First Auto.
New CHANA Group plans to sell 2.6 million autos in 2012. It primarily has the ability to join in the international mainstream auto market. Until 2020, it will form a more complete production series. Self-directed brands will enter a hi-end market while sales will reach 5 million.
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銆€銆€銆€ Editor锛?
Wu Qiong
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