In order to better integrate into the international market , Weichai Group has operated global businesses under two guidelines: First, to further strengthen and expand traditional competitive business, ensuring that high quality products will further expand markets; Second, to accelerate the integration of new businesses. Unremitting efforts will be made to achieve the goal: the proportion of overseas revenues will reach more than 30% by the end of the twelfth five-year plan.
Strive for the Internationalized layout of traditional businesses
Weichai group is currently the only company with four business platforms, covering fields of the vehicle, power train, luxury yacht and auto parts. Its subsidiaries spread throughout Europe, North America, Southeast Asia and other regions. With the establishment of a series of operation centers in Chicago, Marseilles, Forli, Frankfurt and Singapore, a global research and development pattern has come into being.
At present, Weichai has set up many a office in more than 30 countries, developed over 400 authorized service stations. Its products have been sold to more than 100 countries and regions around the world. The inventory of overseas engines reaches 250,000, and that of heavy-duty trucks exceeds 100,000. Thus a global marketing and service network has taken shape.10 more subsidiaries and 140 new stations will be set up abroad by the end of the twelfth five-year-plan.
Cross-Border Merger and Acquisition
Led by corporate strategies, Weichai has been enhancing its businesses. It has actively seized opportunities to seek further development abroad, drawing on the strength of global advantageous industries and advanced technologies. Besides, Weichai has committed itself to extending its industry chain and improving its competitiveness with the help of capital and investment since 2009.
Weichai acquired French Baudouin in January, 2009, further expanding the company's full range of engine business. On January 10, 2012, this Group restructured Italy’s Ferretti ---the world's largest luxury yacht manufacturing enterprise .After that, Weichai began to enter into the world's top yacht manufacturing field, marking further extension of its industrial chain and a solid step in industrial restructuring as well as in international development. On September 3, 2012, Weichai Power---a subsidiary of the group, signed a strategic cooperation agreement with KION Group ---one of the world’s top industrial forklift truck manufacturers and the global leader of the hydraulic technology, which indicated the beginning of leading position of Weichai’s core technologies and completely revolutionized the situation of China's long-term dependence on imports of high-end hydraulic products.