In early december, reports that ukrainian antitrust authorities had approved a chinese takeover of mr. madaci again flooded the media and opinion, but on december 16th beijing's xinwei technology group, one of the parties, issued a clarification announcement saying recent media reports that ukraine's antitrust authorities had approved a chinese takeover of mr. madaci, which had poured cold water on the public's head.
As can be seen from the importance of the company's website, beijing xinwei technology group co., ltd. said in its announcement that the company's self-inspection and communication with ukrainian verified that the above reports are not in accordance with the actual situation, so far, the antitrust application has not been finally approved in the course of the ukrainian antitrust commission review. The announcement also stressed that, since the matters involved in the company's audit report could not be resolved, the object of the restructuring and the shares of the underlying assets were frozen, and there was some uncertainty in the follow-up work, which did not rule out the possibility of termination or change. The string of negatives has once again brought back the chinese takeover of mr. tasic, which the ukrainian state antitrust commission still has a veto power over as a key asset in ukraine, though it still looks as if it hasn't given up on the takeover. The whole deal goes back to its most critical point.
The company is a world-renowned engine manufacturer and one of the most valuable legacies of the post-Soviet Ukrainian aviation industry. It was founded in 1907, mainly in the zaporo-ri aero-engine manufacturing plant, together with eight ukrainian aero-engine professional manufacturers. The factory produces a number of turbofan engines, propeller engines and turboshaft engines that are its leading products and are equipped with a variety of aircraft, the most prestigious of which are the D-18T turbofan engines that drive the world's largest transporter, Ann-225, and overweight transporters, Ann-124.
After the collapse of the soviet union, the entire ukrainian economy was in trouble, and madaci's collapse left not only further technology development untenable, but even the maintenance of normal business operations. Because Soviet technology has always been less economical and environmentally friendly than the West, competition in the field of international civil aviation has not improved much; and because of the loss of orders from the Soviet government and the military, Tasic has struggled in the field of military aviation.
For Western countries such as the United States, the technological achievements of the Soviet Union's high-tech companies are of some value to them, but they don't care about their lives. Thus, at the beginning of the collapse of the Soviet Union, some companies in the United States and Europe, under the guise of \"technical exchange \", acquired a large number of core technologies or advanced programmes at the hands of these companies with very little money, and then lost no control over their fate. Ukraine, a republic that has both \"mastered the core technology of the soviet union\" and \"the innocence of western democracy \", is naturally treated with similar treatment, including even the nasty case of american companies\" designing \"to allow ukrainian shipyards to dismantle the nuclear carrier ulyyanovsk, which is half-built.
The design of the two companies to dismantle the aircraft carrier ulyyanovsk is no secret-although mr tasic relies on limited technological innovation and relatively aggressive marketing to date, its efforts to \"cater to the market\" are mainly reflected in the competitive and lucrative small-and medium- thrust engines, and its substantial progress in the use of large thrust fan engines with limited models and highly monopolistic sources-is limited. From the 1980s to the present day, the thrust of the large turbofan engine has grown from 20 to 35 ton to above, and has made great progress in noise reduction and fuel-saving performance. Although the overall level of masic, which is still in place, is still no one who can surpass it, it is a long way from the first-class level represented by british airways.
But for china's aviation industry, which is catching up with the world's most advanced levels of aviation, tasic's \"dilemma\" is seen in part as an \"opportunity \". On the one hand, thanks to China's rapid economic growth, China's aviation industry receives substantial financial support, which can provide sufficient funds for the introduction of advanced foreign technology and even foreign enterprises; on the other hand, because China's aviation industry has long concentrated its resources on the research and development of small culvert-to-large thrust turbofan engines, large culvert-to-large thrust turbofan engines, there is a relative lack of technology accumulation and research and development experience in the field of medium-to-small thrust turbofan engines, and large culvert-to-large thrust turbofan engines.
Before the acquisition of the company, the Chinese aviation industry had much to do with the products of the company: a variety of transport aircraft, passenger planes and helicopters imported from China in the Soviet era had used the engines produced by the company; and, after the collapse of the Soviet Union, China had introduced its AI-25TLK turbofan engine in the 1990s, which was used to equip our army's early batches of teaching-8 trainers, followed by a reverse mapping of the engine and the development of a coach for the later stage of the turbofan-11 engine;
After entering the new century, the AI-222-25 and AI-222-25F turbofan engines and their domestic models still play an important role in the new generation of our L-15(self-use model is teaching-10) senior coach aircraft.
In a variety of ways, the acquisition of mr. madaci is of great significance to the chinese aviation industry, and that is why the news of the acquisition of mr. madaci is a positive and even \"big game\" move in the chinese media. But a closer look at the acquisition makes it easy to see that there is a huge difference between it and China's previous technology acquisition path.
With the growth of China's comprehensive national strength, especially its economic strength, it is becoming more and more common for AVIC to acquire foreign high-quality technology and industries through acquisition. From parts manufacturers to seat companies to small and medium-sized aviation factories, acquisitions overseas by avic or its affiliates are increasingly common. However, in the process of the acquisition of the company, there are no companies with the rise of the chinese companies, including beijing xinwei technology group co., ltd., beijing tianjiao aviation industry investment co., ltd., chongqing tianjiao aviation power co., ltd., basically no direct contact with avic industry, but with the actual control of xinwei group wang jing relations.
Wang jing is the controlling shareholder and actual controller of beijing xinwei technology group co., ltd., and the chairman of beijing tianjiao aviation industry investment co., ltd., chongqing tianjiao aviation power co., ltd., and chongqing moto tianjiaoqi aviation power co., ltd. Given that the grand canal project in nicaragua has been dragging on with its actual signing of the agreement before it was launched, the implementation of the main part of the project has not been seen for years, and there has been considerable scepticism about tianjiao's acquisition of madaci from the start.
In terms of commercial acquisitions, the acquisition of the company has little to do with the avic industry, but when the acquisition of equipment, companies involved in sensitive technology or major concerns about china's defence industry, western countries, especially the u.s., that have been reluctant to see china upgrade or improve the defence industry, have always wanted to cause trouble for chinese purchasers. China's previous purchases of the unbuilt aircraft carrier, the Varyange, from Ukraine, have been thwarted by Western countries, not only by its procurement process, but even by its successful purchases, which have left Turkey stranded for up to a year in the process of towing the ship home, greatly delaying the progress of China's aircraft-carrier project.
As a company with the production capacity of many kinds of products, such as big culvert than big thrust turbofan engine, medium and small turbofan engine, turboshaft engine, propeller fan engine and so on, the value of China's aviation industry and defense industry is not to say much, so although the acquisition of Tianjiao motoraci seems to have a lot of uncertainty, the United States still has the mentality of \"kill a thousand wrong, cannot let go of one \", high attention to the merger and not let go of any opportunity to create obstacles for it. In recent years, the u. s.government has not only repeatedly pressed the ukrainian government to block the merger, but has even sought investors in the u. s.to replace chinese companies in a \"jump\" bid for madaci.
Although the u. s.has paid great attention to the acquisition and the ukrainian antitrust commission has so far failed to make clear the crucial review of the acquisition, mr. tianjiao's acquisition of a stake in madaci has indeed made some progress in the past few years. Previously, the ukrainian media quoted the verdict of the kiev schenfuchenko district court as saying that ukraine's security authorities suspected madassich president and chief designer, rajah rajah rayev, of selling 56% of the company to chinese investors, and said the company had received a $100 million loan under an agreement with beijing tianjiao aviation industry investment co., ltd on january 29,2016. Although the news was neither confirmed nor denied by the parties concerned, the biggest obstacle to the acquisition since then, according to a series of statements by the ukrainian side, may only be the antitrust commission's review.
When discussing the merits and demerits of the acquisition of the company by Chinese companies, it is clear that most of the accounting for technology is clear: what technology is there, what engine has been built, and what engine can be built now, and what technology and what engine China needs. But when it comes to the form in which tasic will become a chinese company after a successful acquisition, no one, other than the people involved, may be able to say clearly how tasic intends to operate tasic, and how tasic intends to collaborate and integrate organically with china's domestic aviation and aviation industries.
Among the many claims that china will dispose of the company, the most \"bold\" and \"exciting\" is the \"big blueprint\" for moving the entire company to the country. The phrase \"moving production lines to china \",\" thousands of foreign experts joining chinese nationality\" and \"building a ukrainian aviation city in china\" is often the hallmark of such claims, but not to mention the lack of a clear source of such information, the assumption is at least extremely difficult from the point of view of the organization of industrial production alone.
After all, as a factory producing complex aeroengines, masic doesn't need relatively simple raw materials like iron ore and coal coke to move anywhere like an ordinary steel plant. Aero-engine manufacturers need a large number of secondary and even tertiary producers to provide them with subsystems and components, most of which are difficult to replicate entirely in another location unless there is a unified arrangement at the national level. The relocation of the madaci plant may only take thousands of workers, and if all the spare parts suppliers needed to relocate the plant, the size of the workers that need to move may be more than a city can solve. Although tianjiao may be mysterious and sometimes seemingly no shortage of funds, it is clearly unreliable than the force needed to relocate an aviation factory.
By contrast, mr. tianjiao's acquisition of a stake in mr. madaci to raise funds to help the latter resume production and improve the company's operations through the export of aero-engines is a relatively plausible path. Many of the actions that tianjiao can now see belong to this part. Such as tianjiao and madaci joint participation in the air show, and under the agreement to provide madaci a $100 million loan for production and business activities.
It should be said that these loans, combined with other combined factors, do make things better for mr madassich. The combined net profit for the first quarter of 2017 was in the billions of Ucran Grifna (about 100 million yuan), a doubling from the same period in 2016(in the billions of Ukraine). But business has improved, and if mr tasic can only remain in ukraine to develop and produce aero-engines, the plant, even if acquired by chinese companies, is at best a barrier to less co-operation with other chinese carriers, and the import and export of its products and technologies are still limited by the ukrainian government, a considerable distance away from its true relief. And it is completely unrealistic to want to fully integrate into the Chinese aviation industry in such a form.
One of the most important constraints is that, as an enterprise outside the cna industrial system, madaci itself does not play a clear role in the enterprise system. In addition to the few engine models that are currently produced by mr. madassich, china does not have a corresponding type of large culvert than a large thrust turbofan engine. In addition to the large-scale equipment needed by china itself, there are already domestic imitation models after purchasing part of the engine.
On the whole, tianjiao's case of acquiring madaci can go as far as it is today, not as a result of china's \"usurpation\" of the ukrainian aviation industry, but as a result of the systemic decline of the entire ukrainian country, which has led to its country's core competitiveness in extreme straits, to rely on hundreds of millions of dollars in funding from a chinese company to bail it out of its overall difficulties, whether it be the acquirer or the motorciqi company, even if it is a \"two-car business,\" eventually be afraid of an\" impossible task \".