The process of restarting cooperation negotiations between the world-renowned tire manufacturer Michelin and former partner Shuangqin has entered a substantive stage. The reporter recently learned that the cooperation framework between Shuangqin shares and Michelin is basically confirmed, Michelin will hold 40% of the equity of the joint venture company, and China will hold 60% of the shares. After the future cooperation is confirmed, Michelin will provide production technical support to the new joint venture company. The reporter learned from the insiders of the Shuangqin Group that “the negotiations between the two parties are still ongoing and that the specific cooperation will be reviewed by the shareholders’ meeting. It is expected that the news will be confirmed in September or October 2011 at the earliest.†This cooperation has been 10 years since the first joint venture between the two parties. After 10 years of joint ventures, how the new interests appealed to cover up the cooperation "traumatology" many years ago will become the focus of future cooperation between the two sides. Double money and then let 10% stake After parting ways in 2009, in early 2011, Shuangqin shares to the Michelin company to “pro-give†the hope that Michelin will invest in its new passenger car plant Shuangqin Group (Anhui) Huili Tire Co., Ltd. (hereinafter referred to as Shuangqin Anhui Huili Company) And provide technical support. In mid-April 2011, Shuangqin shares announced that the shareholders' meeting agreed that the company signed a memorandum of understanding on cooperation with Michelin, but did not disclose the details. One month later, on May 19, He Liye, the managing partner of the Michelin Group, publicly stated: “We are in preliminary contact with Huayi Group and Shuangqin Group in Shanghai, and we plan to establish a joint venture in the future. But this The project is still at a preliminary stage and there is no more information to provide." The reporter learned that the conditions for the negotiation between the two parties are mainly concentrated on the new project Hefei Passenger Vehicle Tire Factory announced in mid-December 2010. The factory will make up for the gap in the passenger car tire business after the split with Michelin. At present, Shuangqin shares a new passenger car tire factory has started construction in Chaohu, Anhui Province to undertake industrial transfer Wuwei (Second Dam) demonstration zone, an annual output of 15 million high-performance semi-steel radial tire project. The total investment of the project is 6 billion yuan, and the first-phase investment is 3.183 billion yuan. It plans to start production in early 2012. According to the announcement of the Shuangqin Shares on December 13, 2010, the registered capital of the joint venture was RMB 1 billion, and the total investment of the project was RMB 3.183 billion. Today, the amount of investment has almost doubled. Based on years of experience in back-to-back branding and the vacancy of low-end branded products, Michelin’s choice to re-join the double-win Anhui Warriors is still sufficient, and the “barrier†between the two sides is the proportion of equity. Earlier, double-money shareholders said that the double-money shares were intended to sell 30% of the equity in Anhui Double Strength. However, the latest news from the reporter is that the new intention of cooperation is that Michelin will hold 40% of the shares, the Chinese will hold 60% of the shares, and the double-money shares and major shareholders Shanghai Huayi (Group) Co., Ltd. hold 40% and 20% respectively. This will ensure that China will have the right to speak in the joint venture company. The capital of Michelin's 40% stake will be recovered by Shuangqin Shares and Shanghai Huayi (Group) Co., Ltd. The total registered capital of Anhui Qianhui Anhui Capital will remain unchanged. On May 12, 2011, the Shuangqin Shareholders' General Meeting passed the proposal that the company intends to transfer the 32% equity of Shuangqian Anhui Huili Company, a wholly-owned subsidiary of the company, to its major shareholder Shanghai Huayi (Group) Company through the equity exchange agreement. In terms of equity ratio, Shanghai Huayi (Group) Co., Ltd. will sell 12% of its shares to Michelin, and Shuangqin will sell 28% of its shares to Michelin. Based on the value of the equity of the transferee of the double-currency shares, the value of 40% will be calculated. About 1.25 billion yuan. The relevant person of the Double Money Shares explained to the reporter that “The equity of the joint venture company will be distributed according to the proportion of registered capital, the registered capital is RMB 1 billion, the double money company and the Michelin Company each have 400 million yuan, and Shanghai Huayi (Group) Co., Ltd. 200 million yuan." No cooperation experience Michelin's previous cooperation with Double Money was considered to be a typical case of joint venture failure between Chinese and foreign tire companies. In 2000, the predecessor of Shanghai Tire, a double-money company, was in a dire financial situation, with more than 2.2 million tire inventories, and the company’s actual operating loss was as high as 430 million yuan. In order to escape the predicament, Shanghai Tire has adopted a variety of self-help measures, including a joint venture with Michelin. In 2001, the two parties signed a joint venture agreement to form Shanghai Michelin Warrior Tire Co., Ltd. (hereinafter referred to as Shanghai Michelin Warrior) with a total investment of 200 million U.S. dollars. Michelin and Shanghai Tyre respectively accounted for 70% and 30% of the shares. After the establishment of the joint venture company, the Shanghai Michelin Warriors and the “Responsible†brand have been operated by Michelin. Although the double-dollar shares went out of the debt crisis through the joint venture, the right to speak in the tire business of passenger cars was completely lost. According to the announcement of Shuangqin Shares, Shanghai Michelin will lose money in succession after its establishment. In 2008, the company’s loss amounted to 110 million yuan, and the two parties finally broke apart in 2009. In July 2009, after the Shuangqin Shareholders' General Meeting passed the sale of the Shanghai Michelin Company, the company achieved its first-ever profit for the first time in four years. According to the listed data, in August 2009, Shanghai Michelin's operating income was 120 million yuan, operating profit was 6.88 million yuan, and net profit was 10.14 million yuan. China emphasizes technical input After the two parties broke up for the first time, Shuangqin shares became “poor and poor†in the passenger car tire business. Apart from the returning brand, it did not gain management experience and core technology. Therefore, after launching a new round of cooperation, Shuangqin shares special emphasis on mastering the right to speak of the joint venture company and Michelin's technical support. "If Michelin refuses to use technical support, it is only capital to invest in shares. This does not make any sense for double-money shares," the double-money shareholder told reporters. In order to control the right to speak, Shuangqian shares also made huge concessions in equity. Earlier, Qianqin shares said: “Double money is not bad, Michelin is 10% better, and the first condition for negotiations is Michelin's introduction of tire production technology for passenger vehicles.†But in the end, Shuangqian’s shares were sold at 40%. Equity. With regard to the reason for choosing Michelin again, Shuangqin said that it will abandon all the unpleasantness of the last cooperation. "The mall has no permanent enemies. Double-money shares, as state-owned enterprises, once again cooperate with Michelin, is to support the national strategy." Double money shares said. At the same time, Michelin's response was equally active. “We mainly produce Michelin-branded tires after the expansion of our factory in Shenyang. We also need other ways to expand our mid-to-low-end market. Double money just does not have much experience in the field of car tires, and we need to rely on our technology and experience. Regardless of previous cooperation, there is still a basis for future cooperation between the two parties." Four Edge Sealing Bag Packing Machine Four Edge Sealing Bag Packing Machine Four Edge Sealing Packing Machine,Automatic Bag Packing Machine,Ultrasonic Packing Machine,Powder Packaging Machine Dongguan Pailade Machinery Equipment Co.,Ltd , https://www.pailade.com