Research on the Transformation and Upgrading Effect of Cross-border Mergers and Acquisitions in Manufacturing Industry——A Case Study of Weichai Power
In recent years,China's manufacturing industry is facing new internal and external development con-straints such as slowing down of market growth rate,impact of production technology and severe environmental pollution,so that the traditional low value-added development mode finds it difficult to promote further develop-ment.Many manufacturing enterprises expect to promote the transformation and upgrading through cross-border mergers and acquisitions to obtain new growth power.However,this method can't find solid theoretical basis cur-rently.Based on the development status quo of automobile manufacturing industry,this paper analyzes the back-ground,process and motivation of Weichai Power's cross-border M&A from the perspective of transformation and upgrading and industry chain extension,and then further discusses the characteristics and effect of cross-border M&A at different stages.The case study shows that Weichai Power has achieved good effect in transformation and upgrading,the congruence of performance and expectations,and the enhanced comprehensive competitiveness.The reasons of the success can be attributed to its defining strategic planning,clear-cut M&A objectives,prudent formu-lation of M&A schemes,and improved M&A integration mechanism.It can be concluded that manufacturing enter-prises,especially automobile manufacturing enterprises,can accelerate their transformation and upgrading by for-mulating their own strategic planning,clarifying the target companies,paying special attention to pre-merger plan-ning and post-merger integration with a view to the current policy support.
cross-border mergers and acquisitionstransformation and upgradingmanufacturing industryWei-chai Power
NETL
NSTL
万方数据
