Weichai Power, which was suspended due to media coverage of overseas M&A news, made clarification on related issues today.
For the previously reported news of intending to negotiate purchases of GM's subsidiary factories, the company stated that in December 2008, a subordinate subsidiary, Weichai Power (Hong Kong) International Development Co., Ltd. and General Motors, an automotive part in Strasbourg, France The manufacturing branch conducted preliminary contact and conducted preliminary discussions and investigations on the possibility of cooperation in technology, products and other aspects. However, no contact was made on the acquisition, no intention or agreement was reached for cooperation, nor did the company provide any With the intention of acquiring the company, the company did not enter relevant decision-making and deliberation procedures regarding the acquisition.
However, the company did not find anything in overseas mergers and acquisitions. The company’s announcement that the company had obtained the assets of the French company Baudouin through its subsidiary’s auction of 2.99 million euros on January 23, the book value of which was approximately 13.8177 million euros. At present, the asset transfer contract has not yet been signed and the acquisition project is performing the relevant administrative approval procedures. The company stated that the transaction does not constitute a related party transaction. After preliminary calculations, the transaction did not meet the transaction standards that should be disclosed. It does not have a significant impact on the company and does not constitute a major asset acquisition.
The company stated that through the acquisition, it will acquire Baudouin's products, technologies and brands, promote the company to further explore foreign markets, learn from the experience of product development and technology management with global positioning, expand the company's product range, and promote the coordinated development of the business.
According to statistics, Boduuan has a registered capital of 3.55 million euros. It is located in Casey, Prosvé, France and has a history of more than 100 years. It specializes in the design, development and sales of engines and drive assemblies. The main products include engines and gears. Boxes, propeller shafts, propellers, etc.
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