subject: Wuzheng Group: For A Wholly-owned Company Bought The Mountain Drag Farm Machinery And Equipment - 5 [print this page] Five signs are not satisfied with the Group holds a 56.14 percent stake in mountain drag.
Yesterday, the reporter learned from the Shandong Property Rights Exchange Center, located in Jining, the mountain drag Yanzhou Agricultural Equipment Co., Ltd. (hereinafter referred to as mountain drag) of the three state-owned shares are preparing to pack up for sale. According to Hill's three state-owned shareholders drag out the conditions, "the transferee shall be legal persons within the mechanical industry enterprises, registered capital of not less than 30 million yuan, sales income in 2008 no less than 6 billion yuan."
"These conditions is simply the mountain drag is now the largest shareholder of the Group Five signs tailored, no accident, after the end of this share transfer, mountain drag will become a wholly owned subsidiary of the five signs." 1 position that the agricultural industry veteran. Data show that the five levy group by 2008 Pin Sales income of 6.9 billion, ranked No. 2 in the same industry.
Currently registered capital of 159,600,000 yuan mountain drag, 2,400 active employees. In addition to the five signs, there are three shareholders, holding 24.87 percent respectively of Jining City, SAC, holding 18.8% of Jining Mining Group and the holding 0.19% of Jining Wheel Factory. The packaging is what the transfer of the shares of three companies, valued a total of 77.319 million yuan, asset valuation higher than the value of the contributions to value about 10%.
Mountain drag is the predecessor of agricultural equipment was built in 1960, Shandong tractor factory is China's second tractor plant. The golden era in the development of the mountain drag and major large and medium horsepower tractors and related Engine Production and export base, dragged the domestic market share above 50% over many years, social possession of 21 thousand units, ranking first in the country.
Into the 21st century, Shandong tractor plant operation step by step trouble. October 2006, Jining City, SASAC and local injection of two state-owned enterprises were set up 70 million yuan Agricultural Equipment Co., Ltd. mountain drag, drag from the mountain farm equipment Lease Shandong Tractor Works core business assets, and accepted the Laoshan delay of 2500 workers employed, the mountain drag inherited brand factory and production advantages, while the original factory mountain drag into insolvency proceedings.
This year in April, from sunshine Wulian County Agricultural giant mountain drag five agricultural levy Holdings mounted by way of capital increase shares out 100 million yuan, achieving 56.14% stake in mountain drag. In the new company, signs five-chairman, chairman Wei-Dong Jiang, Agricultural Equipment Co., Ltd. of San dragged by the Executive Vice Chairman and Chairman Hu Hung.
Statement according to Wei-Dong Jiang, Shan delayed acquisition of the five levy tractors can quickly cover a small delay, in drag, big drag the whole series, and can greatly enhance the capacity of the tractor, mountain drag will be five large and medium tractors and levy Group important production base of modern agricultural equipment. Five signs of the mountain drag
established "five three-step" development plan. The first step, to an annual production capacity next year, dragging 30 000 medium and large units, the size of one billion yuan sales income; the second step, further tapping the potential transformation of the existing plant, reaching an annual output of 60,000 sets of large and medium capacity-delay; the third step , the new annual output of 100,000 units of agricultural machinery industrial park, large and medium tractors, 3 years, 100,000 units of production of tractors, flew brand engine size of 300 000 units, 5 years, sales reached 50 billion, and to strive to achieve greater breakthroughs.
Jining City, according to the SASAC to concerned parties, according to an equity investment agreement at the time, delay in holding Hill after the acquisition of Laoshan five levy will delay the plant, land and equipment, the last hill of the state-owned shares will be dragged out by law. It now appears that five signs have been restructuring the mountain drag to the last step.
