Monday, October 1, 2012

STEYR MOTORS: Ένα Νέο και Λαμπρό Μέλλον - A New and Bright Future

Αυτό το δελτίο τύπου μου εστάλει από την αυστριακή κατασκευάστρια εταιρεία STEYR MOTORS GmbH σχετικά με την πρόσφατη απόκτιση της από τον κινεζικό επενδυτικό όμιλο Phoenix Tree HSC Investment (Wuhan) Co., Ltd. Νέες σπουδαίες επιχειρηματικές ευκαιρίες αποκαλύπτονται από αυτή την συγχώνευση.

This press release was send to me by the Austian diesel engine manufacturer  STEYR MOTORS GmbH regarding its recent acquisition by the chinese investor group Phoenix Tree HSC Investment (Wuhan) Co., Ltd. New great business possibilities  are unfolded from this merger. 

STEYR MOTORS walks into a new and bright future

The shareholders of STEYR MOTORS GmbH and Phoenix Tree HSC Investment (Wuhan) Co., Ltd have closed a purchase deal over 100% of the shares of the STEYR MOTORS GmbH including the subsidiaries STEYR MOTORS Liegenschaften GmbH and STEYR MOTORS North America Inc. with the Chinese investor group.

STEYR MOTORS GmbH with major shareholder Prof. Dr. Rudolf Streicher is the specialist for the development and production of high-power Diesel engines for a wide range of applications – from light armoured vehicles, all-terrain vehicles, hybrid trolley busses to pleasure and work boats. The engine family which is based on the STEYR M1 Monoblock engine impresses with reliable operation, robustness, performance and cost efficiency.

Phoenix Tree HSC Investment (Wuhan) Co., Ltd. ("PTC") is a Hong Kong- Chinese financial investor with strategic orientations. PTC is selectively looking for investment opportunities, that provide a synergy between European technology and Chinese cost and market potentials. Following this strategy PTC is investing in European as well as Chinese locations to strengthen the typical European benefit of innovation and R&D competences and the western markets while adding Chinese advantages such as high market potentials and low production costs.

The purchase process was accompanied by GCI Management Consulting GmbH which is working since 1991 as independent consultant for medium sized companies and companies groups of all branches. GCI offers its professional support in the fields of M&A / transaction services, Corporate Finance as well as Performance Management and Business Development. In the Transaction Services business GCi is one of the most experienced M&A consultancies with a transaction volume of more than 1 billion Euros with a focus on German-speaking medium-sized companies. GCI Management has established intensive business contacts into the Emerging Markets, especially China and India. GCI was responsible for the establishment of the contact between STEYR MOTORS and PTC and has accompanied the implementation of the transaction

The engineering company STEYR MOTORS which is situated in 2001 was formed through a Management-Buy-out from MAGNA-STEYR and has now set itself the new goal to largely expand its engineering and production volume in Steyr with the help of the new connection to PTC. Furthermore the two companies are intensively working to establish new business opportunities in China. In order to achieve this it is necessary to increase the given engineering services and develop new engine types, while simultaneously extending the market activities in Asia by cooperations with local production facilities.

Next to the current engagement in the development and production of high-power Diesel engines the location in Steyr will be expanded to become the worldwide engineering center for the new group with a focus on the development of new Diesel engines for stationary and vehicle as well as marine and general aviation applications. To make this possible the purchase of additional areas next to the existing production hall was agreed on by contract with the Stadtgut Steyr.

To be able to master this new challenge the company will reinforce the team in Steyr by creating additional jobs in the fiels of engine and injection development, project management and strategic purchasing in Steyr. Even though STEYR MOTORS was already active on the Chinese Marine and special vehicle engine market, the new constellation offers much more efficient and promising opportunities to those market segments. The excellent image of “STEYR”-products in China is supporting those new efforts positively. Phoenix Tree HSC Investment (Wuhan) Co., Ltd will support those activities through ist tight connections to the Chinese industry.

One major motivation for the interest of PTC was the knowhow of the STEYR MOTORS employees combined with the value of the products and technical solutions of the STEYR MOnoblock engine. In order to protect this knowhow a location guarantee for the site in Steyr was an essential part of the purchase contract, further strengthened by the absolutely necessary further engagement of all management members in their respective areas. Another vital goal is the implementation of the very high Austrian quality standards and safety requirements at the production sites in China. STEYR MOTORS with its vast experience in engine and injection system development will start working on the improvement of existing, currently produced Chinese Diesel engines and will thereby establish a technological lead and important competitive advantages.

Major shareholder Prof. Dr. Rudolf Streicher and managing partner Rudolf Mandorfer, who considerably pushed the development of STEYR MOTORS: “To be able to stay competitive we need new, potential distribution channels and markets providing fast and sustainable growth. Based on our experience and due to intensive market research this is only possible together with a strong, local partner. We have now found this future oriented, strategic partner in Phoenix Tree HSC Investment (Wuhan) Co., Ltd. We are looking forward to become part of the next league of engine manufacturers and to the further development of the location in Steyr to a global engineering center.”

Mr. Xiaojiang LIU, Member of the Board of Directors of PTC, said: “As an investor from China, we will bring along a new development opportunity to STEYR MOTORS, who is currently active in the high-tech niche markets. This opportunity originates from the mass markets of Diesel engines, the vast low cost manufacturing capacities, and the abundant capitals in China. We will develop STEYR MOTORS into a worldwide R&D centre for a new generation of Diesel engines, as well as the production base customized high-power engine applications for the European and North American markets. In the future we will continuously inject R&D capitals and low-cost quality components to STEYR MOTORS, to gradually extend its existing R&D and production capacities at the location Steyr, in order to safeguard its current market position as a high-end specialist, and in parallel to grow it into a leading Diesel engine manufacturer in the mass markets".

Stefan Hasper, CEO of GCI Management in Munich, is convinced to have established an ideal combination of European high-tech and Chinese market growth potential: “The highly increasing demand for Diesel engines in China can currently not be covered by Chinese engine manufacturers. STEYR MOTORS develops engines at the highest technical level, but was so far mainly able to produce its engine range in small series. Through the partnership with the Chinese investor PTC the company now gets a direct market access to the Chinese market as well as modern local production sites for volume production. The Chinese investor mainly convinced the Austrian company through its strategic vision and detailled market knowledge.”

For further information please contact:
Phoenix Tree HSC Investment (Wuhan) Co., Ltd. Room 2101, Capital Mansion, No.6 Xin Yuan Nan Lu, Chaoyamg District, 100004 Beijing, CHINA T: +86 18611613925
Contact: Jonathan Chu, Executive Vice President Europe
Im Stadtgut B1 A-4407 Steyr, AUSTRIA T: +43 7252 222 10
Contact: Evelyn Mack, Marketing & HR
GCI Management Consulting GmbH Brienner Str. 7 D-80333 München, GERMANY T: +49 89 20 500 500
Contact: Stefan Hasper (China Desk)

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