Liugong is expected to acquire Polish construction

2022-09-21
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Liugong is expected to acquire Polish construction machinery enterprise this month

Liugong is expected to acquire Polish construction machinery enterprise this month

China Construction machinery information

Guide: the domestic top ranked construction machinery enterprise Liugong, which has experienced the same geological layout effect, finally made substantial progress in its project acquisition in Poland after encountering twists and turns. Liugong announced yesterday that recently, Liugong machinery (Poland) Co., Ltd., a wholly-owned enterprise of the company, and hutastalowawola, a Polish construction machinery enterprise

the project acquisition of Liugong, the top domestic construction machinery enterprise, in Poland finally made substantial progress after encountering twists and turns

Liugong announced yesterday that recently, Liugong machinery (Poland) Co., Ltd., a wholly-owned enterprise of the company, and the trade union organization of the Polish construction machinery enterprise hutastalowawola (hereinafter referred to as "HSW") signed a "social security I" sub agreement in Poland

"this Agreement means that there is no obstacle for Liugong to acquire HSW project." A senior manager of Liugong told the media yesterday

on November 18 last year, Liugong announced for the first time that the company plans to acquire all assets (including intangible assets) of divisioni, a division of HSW company, and assume the debts of the division; Acquire 100% equity of dresstta, a wholly-owned subsidiary of HSW. HSW company is one of the largest construction machinery manufacturers in China and Europe, with a full range of bulldozer product lines, loaders and other products

the acquisition was going well. However, in June this year, some media reported that the acquisition of HSW by Liugong had been suspended due to the crisis of China Railway in Poland

on June 13 this year, the Polish Highway Authority, the owner, publicly announced the cancellation of the project contracting agreement signed with China overseas for swing reset, and may claim compensation and fines of 741million Polish zloty (about 1.751 billion yuan) from China overseas, while prohibiting China overseas from participating in Poland's public bidding for three years

a person from Polish Chinese information posted at that time: "the delay of Liugong's acquisition of HSW, a Polish construction equipment manufacturer, is related to a large number of negative reports in Poland from China and abroad." The source said that the trade union of HSW enterprise asked Liu Gong to guarantee the employee's five-year work contract and increase the salary by 5%, but Liu Gong only agreed to guarantee the employee's three-year work contract and increase the salary by 3%, and the two sides were deadlocked. But in the end, both sides made compromises

Polish Chinese News quoted local Polish sources as saying that Liugong agreed to take over 840 workers from the original factory and promised to hire workers for 4.5 years. At the same time, each worker received 1500 zloty privatization bonus from Polish HSW company, and the privatization bonus will be increased by 3% in July next year. Therefore, the Polish HSW trade union agreed to sell HSW to Liugong. The formal signing ceremony of the conditional acquisition contract between the two sides is preliminarily planned to be held on January 10, 2012

the above-mentioned senior management of Liugong disclosed to this newspaper yesterday that during the Polish President's visit to China in December, important agreements will be signed on Liugong's acquisition of HSW projects

Yang Yichuan, President of Liugong group, said in an interview with this newspaper that the company hopes to establish an efficient R & D, procurement, production, marketing and accessories service network in the European market based on HSW, and will quickly expand the European manufacturing base and market in terms of technology, brand and market

in the past few years, the domestic construction machinery industry has shown explosive growth, but since April this year, the product sales of this industry have begun to decline to varying degrees. In order to reduce risks, construction machinery enterprises, including Liugong and Sany Heavy Industries, have begun to strengthen their overseas layout

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