Hengtian plans to restart negotiations with Duff to accelerate its entry into the medium- and heavy-duty trucks

China Hengtian Group Co., Ltd. (hereinafter referred to as “Hengtian Group”), which intends to build the automotive industry into the second largest business segment, has recently been accelerating its mergers and acquisitions in the automotive sector.

Recently, "First Financial Daily" reporter learned from informed sources, Hengtian Group is talking with the US Pekka Group's Daf Trucks on the heavy truck to start secret talks again, hoping to use Duff technology to integrate its newly acquired Dutch heavy truck company GINAF The existing platform resources of Hubei Chuxifeng have accelerated the creation of a new generation of medium- and heavy-duty card products.

“The group level is indeed still talking about cooperation with Pecca, but the main body of this cooperation is Daff Trucks under the Pecca Group.” A high-level auto company owned by Hengtian Group confirmed to the newspaper that Hengtian Group is In the month, it successfully completed the acquisition of GINAF with 9 million euros (about 76 million yuan). Currently, it is integrating related resources and will use it as a basis to consider further cooperation negotiations with Duff.

In this regard, Pekka Chinese director Yin Hongping said that the Pekka Group began negotiations with the Hengtian Group as early as in 2009, but so far has not reached any related cooperation projects, and Duff and GINAF had previously had business cooperation.

"Actually, GINAF produces a lot of special vehicles, and the scale of production and sales is not large. There is no production of spare parts for itself. All of them rely on Pekka to realize production. Their products have always been provided by Duff with an engine and a cab." Yin Hongping told reporters. With Hengtian's acquisition of GINAF, Duff is also studying how to strengthen the response of GINAF's supporting work in China. However, he stressed that Peacock has not yet reached any agreement on joint venture and cooperation with any domestic company.

"Now the cooperation with Duff has not yet been finalized. The main obstacle is that the government can't approve the obstacles. Now many joint-venture projects can't be approved." The above-mentioned Hengtian Motors senior executive told reporters that since the state is currently very strict about joint-venture and cooperative approval, The acquisition of Duff, which is wholly-owned by GINAF, is an “impossible thing”. Therefore, at present, Hengtian is still considering other ways to reach a cooperation with Duff to strengthen the group's layout in the medium and heavy truck sector.

Prior to this, Hengtian Automobile originally planned to complete the purchase of Baoding Tianma Automobile Group (hereinafter referred to as “Tianma Automobile”) in September, which was originally scheduled to be completed in September.

The relevant person in charge of Hengtian Automobile stated that after the completion of the acquisition, Hengtian Automobile will use the original technology and platform of Tianma Automobile to build the new SUV model. In the next year, Hengtian Auto will acquire another vehicle manufacturing plant in the north through mergers and acquisitions to obtain a multi-functional commercial vehicle production base and production qualification.

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