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  3. Enterprise News
    ZWZ in Media: With the Help of “External Brain”, ZWZ Group Strengthen Overseas Mergers and Acquisitions to Promote the Transformation and Upgrading by Opening
    2016/6/21 8:59:59

    According to Xinhua News Agency on 30th May, the domestic leading bearing enterprise- Wafangdian Bearing Group facing the excessive production capacity in the domestic bearing market, with the help of “external brain” strengthening overseas mergers and acquisitions, explore the international high-end market actively. Trying to explore a way of transformation and upgrading by opening, the overseas turnover of enterprise continuous increasing 15 percent in recent 3 years.

    Journalist came to ZWZ group plant, the windpower, rail transit bearing workshop are well-arranged in the plant, there are not many staffs in the plant, and nearly all the machine are running, machine tools are making noise of cutting and running randomly. The products in these workshops are changing from middle and low end to middle and high end.

    Mr. Meng Wei, the chairman of ZWZ Group said, currently, United States and Europe are the largest markets which demands high-end bearings, separately takes 29 percent and 21 percent of global total demands, in order to develop in long term, ZWZ must develop this 2 markets, to promote transformation and upgrading by opening.

    “However, during the process of transformation and upgrading, same as other manufacturing enterprises, ZWZ has first class workshop and equipments, but can’t produce first class products.” Mr. Mengwei said, compared with international leading enterprise, the “hardware” of ZWZ is not bad, but the gap was shown on the “software” related to technology and talents.

    Critical technology is hard to introduced, rely on independent Research and Development is more likely to miss the opportunity of development. Mr. Mengwei introduced, currently some of international first class international enterprises, now are searching for new bearing supplier globally, become new stable supply chain, the time give us only 3-5 years.

    “If missed this opportunity period, we need to wait very long time. Therefore, we decide to build Research and Development center overseas, engage high-end talent locally as the break through place of transformation and upgrading. ” Mr. Meng Wei said.

    In 2015, ZWZ build Europe Research and Development center in Germany, build high-end product inspection and testing center in United State. Aims at high-end project in international market, this two centers employed nearly 50 overseas Research and Development talents, to perform Research and Development business locally.

    With the built of overseas Research and Development center, which improved Research and Development capability in ZWZ high-end products. In 2014, the percentage of ZWZ high-end product not reach 10 percent in its total products, currently this percentage increased to 15 percent, middle-end product reached 40 percent. According to the future plan of enterprise, at the duration of 13th five year plan, the product percentage of middle and high-end products will reach 70 percent.

    In addition, though merger and acquisition to overseas advanced bearing enterprise, by the methods of built up overseas sales and service platform, to implement ”going-out” strategy, to extend international visibility of ZWZ products. Currently, ZWZ product are already “penetrate” to US famous branded automotive part manufacturer.

    The international development, sales system built by ZWZ, which improved the degree of market recognition to ZWZ products in international high-end market. In 2015, under the circumstance that the total production scale of ZWZ are not changed, overseas revenue reached 730 million RMB, increased 15 on year-on-year basis, export amount 350 million RMB, increased 17.5 percent on year-on-year basis.

    According to introduction, from now on, ZWZ will continue optimizing the structure of export product; increase the percentage of wind power, automotive transmission series bearing and other “key products”, take the method of opening, to promote the export of enterprise and overall benefits of transformation and upgrading.