The most popular nine word motto of Zoomlion to re

2022-08-07
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Zoomlion's "nine word maxim" realizes the legend of CIFA M & a

Zoomlion's "nine word maxim" realizes the legend of CIFA M & a

China will briefly introduce the maintenance method of 1 drop test machine: engineering machinery information

introduction: Recently, the first annual meeting of overseas agents of Zoomlion's concrete machinery was held in Changsha Lugu Industrial Park. More than 60 agent representatives from all over the world gathered together to witness the excellent performance of Zoomlion CIFA concrete machinery under the new industrial pattern. Beckman, marketing director of CIFA, said that Da

recently, the first annual meeting of overseas concrete machinery agents of Zoomlion was held in Changsha Lugu Industrial Park. More than 60 agent representatives from all over the world gathered together to witness the excellent performance of Zoomlion CIFA concrete machinery under the new industrial pattern. Daniel Metivier, marketing director of CIFA company, pointed out in his speech at the conference that the growth of concrete business benefited from the double brand strategy of Zoomlion CIFA adopted after the acquisition of CIFA in 2008. At the same time, he disclosed that the profit of CIFA company in the first half of 2012 had reached twice the full year profit of 2007 before the subprime mortgage crisis, and CIFA achieved substantial growth after four years of integration

according to the data, Zoomlion has maintained a high-speed growth rate of over 60% in just four years after the acquisition of Italian CIFA in 2008, and jumped to the sixth place in the international construction machinery manufacturing enterprises. "Zoomlion, led by Zhan Chunxin, not only created a new model of international M & A with PE, but also achieved a good story of M & A with high growth performance four years later." Experts from industry associations pointed out that there are many examples of Chinese enterprises' failure in overseas M & A, but the successful ones are rare. Cultural conflict is the biggest problem after overseas M & A. Zhanchunxin, chairman of Zoomlion, creatively put forward the nine character M & a strategy of "low profile, hard rules and dancing together", which enabled the company to be equipped with security protection in just four years; It has not only successfully solved the problem of cultural integration among enterprises, but also promoted the substantial growth of the performance of both sides. This is a legend of M & A, and the unique M & a strategy is worth learning from Chinese enterprises. The above person summarized

"low profile, hard rules and dancing together":

solving the problem of "going in" of Chinese enterprises

zhaolinghuan, President of Hony capital, a strategic investment partner of Zoomlion, said when talking about Zoomlion's acquisition of CIFA that the successful signing of overseas M & A agreements is only the first step in the Long March, and the important thing is how to experience the "pain of three years" to achieve the integration of both sides. In fact, the famous "seven seven law" reveals the barrier of corporate culture differences in mergers and acquisitions, "70% of mergers and acquisitions will fail for various reasons, and 70% of them will fail in the integration of corporate culture after mergers and acquisitions."

for the cultural integration problems in M & A, Zhan Chunxin has his own unique thinking and understanding "Quite a number of enterprises can rely on a smart decision to seize an accidental opportunity and make a cost-effective international purchase to successfully prepare colorless, transparent and self-healing high toughness and high strength polymers for sale. Of course, this can be regarded as' going out ', but the real internationalization is not only' going out ', but also' going in '. Enough facts show that it is easy for enterprises to go out, but difficult for them to go in."

further analyze the three reasons why enterprises are "unable to go in", Mr. Zhan believes that: "First, they are in a new environment, but they act with inertia. Second, although the M & A parties have formed a subordination relationship in terms of equity, they have not achieved real integration in terms of culture. Third, they have achieved strong acquisition, but it is difficult to achieve integration. Enterprises are eager to go out and do large-scale, but after the acquisition, they find that in terms of strategic layout, cultural integration, market coordination, technology docking, etc, Many questions were not considered thoroughly. " He believes that integration and integration are the two necessary stages of M & A, and integration is the premise of integration. Without the integration of culture and ideas, there is no integration of management, market and technology. How to integrate and integrate, he summarized the method into three elements, namely, the nine character policy of "low profile, hard rules and dancing together", which is also the nine character integration strategy he proposed at the beginning of CIFA M & A. He believes that the merger and acquisition will get twice the result with half the effort by first integrating the other party with a low profile and then conducting all-round integration with Qi Gongwu with hard rules

after 4 years of implementation and verification, this M & a strategy not only enabled CIFA to successfully get rid of the impact of the economic crisis, but also realized profits. Zoomlion also achieved rapid development due to the support of CIFA's advanced technology and global marketing network. Zoomlion has not only "gone out", but also successfully "walked in" on the international stage

the first stage:

"low profile" integration stage

"low profile is actually the proper attitude for Chinese enterprises to integrate into the world." Zoomlion believes that to maintain a low profile, it is necessary to adhere to the six character elements of "inclusiveness, sharing and responsibility" in the implementation. Inclusiveness means respect, understanding and active adaptation, eliminating the great differences between Chinese and Western cultures, and then "sharing" to establish common interests and achieve common development; at the same time, taking due responsibilities in international mergers and acquisitions "to be a good corporate citizen in the local area. Then, we should unite people with the vision of openness and win-win cooperation, so as to fundamentally solve the problem that Chinese enterprises can not go in, The first step to achieve real cultural integration to help enterprises achieve "going global"

in the view of Zoomlion, the most important thing for cultural integration is "inclusiveness": "when we really enter a completely different cultural environment, we will inevitably encounter resistance. However, as long as we can keep a low profile, empathize, communicate and handle with empathy, we can shorten the distance and turn differences into integration."

it is understood that before Zoomlion's acquisition of CIFA, local people in Europe did not trust Chinese enterprises. They often worried about whether Chinese enterprises would transfer their best assets to China and fire their employees after the acquisition. In order to eliminate this misunderstanding, Zhan Chunxin, chairman and CEO of Zoomlion, made a solemn commitment to "not lay off staff" and not move the whole plant back to China in an interview with local media under the arrangement of the local Mandalin fund. This measure has promoted the communication between China and local trade unions, made local people understand the acquisition purpose of Zoomlion, and thus gained the understanding and trust of all Italian CIFA employees and local people in Zoomlion

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