Stuttgart, Stuttgart, Germany, Pumai plant.

The factory area covering more than a thousand acres is silent, and there is no noise in the past.On the main road of the factory, there is no scene of workers and vehicles moving around, and occasionally one or two employees pass by, and the figure also looks helpless, no longer the kind of vitality or high-yield sound.

The Stuttgart plant is the final assembly plant of Pumay's construction machinery, and just 10 years ago, the cement and concrete pump trucks produced by this factory still accounted for 40% of the global market share, which won the reputation of "elephant".

And from that time on, the "elephant" encountered the cannibalization of "ants" from China.A dry enterprise led by China Chenyu Construction Machinery Company has launched its own brand of concrete pump truck, which has attracted the attention of many third world construction companies at low prices and high-quality services, and has divided Pu Mai's share in the construction market in these countries.

At first, Pu Mei did not worry too much about this, and its management firmly believed that with its own technical strength, it could crush Chinese companies in the market anyway.The dependence of Chinese enterprises, but the cost is low, at best in Southeast Asia, Africa and other poor places to find a place, Europe and the United States and other developed countries market, will not fall to the hands of the Chinese, and as we all know, the European and American market is the most important market for construction machinery.

Later, the development of things, gradually out of the control of Pu Mai.After obtaining the third world market, Chinese enterprises continue to invest in research and development of profits obtained from the market, and the technical level and quality of products continue to improve, and the technology gap with Pumai products is narrowing.At the same time, China's domestic infrastructure scale has expanded rapidly, making China the world's largest construction machinery market, while Chenyu and other Chinese enterprises have made the day, place, people, and people, and are doing a good job in the Chinese market, and the replacement of products is dazzling.

In contrast, Pumai's pump truck technology is still in the last century, the company's management misjudged the situation, unwilling to spend a lot of money to update the technology.By two or three years ago, Pu Mei finally found that his European and American customers also fell to China and began to abandon Pu Mai and turn to China to purchase pump trucks from China.At this time, Pu Mai wanted to do something again, and it was powerless, and its global market share of pump trucks quickly dropped to less than 10%.

Instead of a Chinese company, with a global market share of 10%, it is enough to be proud.But the situation is different, because its management cost amortization is very large, if there is no large enough market share as a support, then the entire enterprise will fall into a serious loss state.In fact, since three years ago, Pumay's construction machinery business has suffered a large loss, after three years of hard support, the headquarters of the Pumay Group had to choose a strong wrist, announced the construction machinery department all discontinued, and in the market to publicly list transfer.

The Pumian Group is also helpless to do so.Pumay is a large industrial equipment group with many businesses, and construction machinery is only one of them.However, in addition to construction machinery, Pumay's business in offshore drilling platforms, shield machines, wind turbines and other aspects of the same difficulties, all of which are related to competition from China.

Compared with his Chinese counterparts, Pu Mai is still a behemoth, strong, technologically advanced, and brand influence is even more unattainable.But Chinese companies have the strength of a wolf, once a company in a technology has made a breakthrough, it will share this technology with other peers, so as to unite the power of more than a dozen, dozens of companies, to compete with the market.

Taking shield machine as an example, a few years ago, Chenyu Construction Machinery Company defeated Pu Mai in the bidding of China's Huoyuan subway project, and then Chenyu Company shared this technology with several other shield machine enterprises in China.After these enterprises obtained technology, in the bidding of subway engineering equipment in various places and foreign manufacturers, including Pu Mai, launched a desperate struggle, and quickly increased the equipment localization rate of the shield machine market from less than 10% to more than 80%, foreign manufacturers can only retain the market in some engineering projects with high technical difficulties, and the conventional shield market has been occupied by Chinese enterprises.

Wind power equipment market is another situation, Chinese enterprises use large-scale production to reduce costs, not only the European wind turbine companies excluded from the Chinese market, but also won a large number of OEM orders from Europe.Industrial production is to meet the Matthew effect, the larger the scale of production, the lower the production cost, and the low production costs, but also to induce other enterprises to give up production, the hand of the order to the low production cost of the enterprise foundry.

This is the case between China and Europe, a large number of European wind power companies found that China's wind turbine manufacturing costs are much lower than Europe, have taken the form of entrusting OEMs or establishing joint ventures with Chinese companies to transfer production to China.Pop stepped out of the hatred of China, it was difficult to accept the way to cooperate with China, and as a result, because the production cost was too high, the original share of the European market was also lost.

When the management realized that it was not good and planned to go to China to seek foundry cooperation with its peers, several powerful Chinese companies claimed that their production orders were full and it was difficult to accept Pu Mai's commission.But there are some places on the small wind turbine companies claim to be able to take orders, but Pumai sent engineers to investigate, found that the production qualifications of these enterprises are suspicious, if Pumaye asked them to work, nine out of ten eventually to smash their own brand.

Several major business directions have gone wrong, and the earnings of the Pumay Group are more difficult to see year by year.Shareholders began to erupt at management, demanding that management take effective measures to reverse the situation.Management knows that its problems are actually problems for companies across Europe, a problem that is a rich disease brought about by a luxurious life that is incurable.However, it cannot be said to shareholders that what management can do is to prepare an ambitious revitalization plan, claiming to invest billions of euros to enter emerging areas, and in order to raise these funds, it is necessary to divest some non-performing assets and sell them for money, and the construction machinery department is the first department selected by the group management to sell.

Management executives understand that the so-called billions of euros to invest in new areas, just an account of the capital market, in fact, Europe has been difficult to find any good emerging areas to invest.

The technology is demanding and lucrative, and the Americans will not let go of, and European companies cannot compete with American companies.Areas with low technical requirements, whether they are profitable or not, are the vegetables in the Chinese basket, and it is not the turn of European companies to reach out.The rest is the high technical requirements, while the profit of the field, such a field, Americans disdain to do, the Chinese people are difficult to reach, seems to be reserved for the Europeans.

But the problem is that Europeans don’t like this either!To the extent of pampering, Europeans are more powerful than Americans, do not look at the United States is now the world's most powerful country, in the eyes of Europeans, Americans are a group of uneducated, tasteless barbarians, why compared with our old European aristocracy?Even the Americans are too lazy to make money, and Europeans are even less interested in making money.

The only role of selling the construction machinery division is to enable the Pumay Group to obtain a revenue to balance the financial statements and maintain the stock price for a period of time.When this money is spent, it is not too big to sell another department, and you can continue to take a breath.As for what to do if all the departments are sold out, this is not a question that current executives need to think about, when they are retired, which is a flood?

The strategy is settled, and finding the acquirer is a problem.Pumay's construction machinery department is sold because of shrinking market share and serious losses, and the acquirer can not only have the ability to reverse this situation, otherwise the past results of the acquisition are still losses, that is, simply with their own money can not be passed.Throughout the entire Western world, whether it is a European country, or the United States, Japan, no company can make Pumay's construction machinery to revive the wind.It is that several companies have taken a fancy to the Pumay brand and some technologies, and want to buy and integrate with their original products, but the purchase price that is willing to pay is almost like a humiliation, and the management of Pumay is unacceptable anyway.

Just when the mountains are exhausted, a news came from the far east, a Chinese company called Chenyu International Investment Company, intends to acquire Pumay Construction Machinery Co., Ltd., and the verbal promised purchase price is about 2.5 billion euros, although it is still lower than the expectations of the Pumay Group, but it is also the best result that Pu Mai can get.

Today, the representative of Chenyu Guodu is going to the Stuttgart factory to negotiate with the Pumay side, and the plenipotentiary representative sent by Heinzl and the EU, Bovard and Emirin, the plenipotentiary representative sent by the Pumay Group, came to the factory early in the morning and waited for the arrival of Chinese personnel.

“They are coming!”

Emeline pointed to the front and said to the crowd.

A commercial car drove in front of the crowd, the door opened, and the fish from the car came down a dry staff, most of them yellow-skinned Chinese, and there were several white-skinned Europeans, but these Europeans looked to be under the Chinese.When the first one, 40 years old, healthy, extraordinary temperament, his eyes are calm, his face seems to have a faint smile.

“Mr. Feng, we have met again, welcome to Europe, and hope that we can have a happy cooperation.”

Bovard greeted him, shook hands with the man, and he recognized that this person was the protagonist of the negotiations, Feng Xiaochen, chairman of China Chenyu Group Corporation and general manager of the newly established Chenyu International Investment Company.