On October 26, Lixin Precision announced that it intends to acquire a 100% stake in SuKKunststofftechnik GmbH (SuK) owned by Martin Witulski, a natural person of German nationality. The purchase price is 4 million euros to 5 million euros (approximately 33,564,400 yuan to 4,195,500 yuan). ), The final transaction price is negotiated between the parties based on the due diligence report. Lixin Precision stated that through the acquisition of SuK, the company can operate and expand the automotive parts market in Germany, thus expanding its product line and customer network.
The announcement shows that SuK's registered capital is 25,600 Euros and Martin Witulski is its sole shareholder. The company's place of business is Kierspe, Germany.
SuK has mastered the leading 2K technology of soft and hard composite materials, honeycomb injection molding MUCELL and hybrid technology in the field of automotive precision plastic parts, and is also the core supplier of plastic parts such as door locks for BMW, Mercedes-Benz and other companies. Lixun Precision can take SuK into the automotive customer supply chain.
Senior investment researcher Li Yuheng told the "Daily Economic News" reporter that if domestic businessmen want to enter the supply chain system of European and American auto manufacturers, mergers and acquisitions are a convenient and feasible path. SuK has strong competitiveness in technology and customer resources. European and American auto manufacturers generally have more stringent supply chain management, and require high technology and products from supply chain vendors. Once a cooperation between manufacturers and suppliers is established, they are external. Supplier competitors are more difficult to enter.
In addition, the reporter noted that Lixin Precision mainly produces computer connectors, and major customers include Foxconn and Lenovo.
In recent years, as the desktop computer and notebook computer market as a whole have shown a downward trend, the proportion of Lixin's sophisticated computer connector business has decreased year by year. According to the financial report, the company's revenue for the first half of 2011, 2012 and 2013 were respectively 2.556 billion yuan, 3.147 billion yuan and 1.787 billion yuan, while the computer connector business accounted for 80.73%, 73.4% and 68% respectively.
In order to cope with the decline in the computer connector business, Lixun Precision began to adjust its business strategy and layout communications and automotive markets. At present, the company is already supplying Apple with Mac power cord products, and in the automotive connector market, its performance is not yet outstanding. The Lixin Precision 2010 financial report shows that since 2006, the company has started the research and development of connectors for on-board electronics and automotive auxiliary systems, and began mass supply. However, by 2011, the sales revenue of the business was only 5,285,800 yuan, accounting for only 2.07% of the company's total revenue.
Regarding the latest developments in the automotive connector business, Mr. Liu of Lixunâ€™s senior secretarial office expressed â€œunclearâ€ when interviewed by reporters. However, the reporter noticed that in the first half of this year's financial report, the company stated that the long incubation time of automotive connectors and the high technical threshold are the preferred development directions of the company and are still in the investment period.
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