Due to the explosion risk of airbag design flaws and the fact that at least 17 deaths and over 100 injuries have been reported worldwide, the former giant Takada Co. (hereinafter referred to as "Takada Co.") was "shocked by scandal" Forced to file for bankruptcy.And the world's second largest airbag supplier (data sources are wins electronic earnings) behind the scenes, will be the Chinese auto parts giant wins all electronics.
According to Autonews, a car news website, the final acquisition agreement has been reached with Kodama Corp. by Key Safety Systems Inc (KSS), a unit of Komsomol Electronics, Inc. 15.88 billion US dollars (about 10.866 billion yuan) to buy Takata company.
"China Business" reporter on the acquisition of the news to all wins electronic confirmation, as of press time no response, but it is certain that the acquisition is almost a foregone conclusion as early as June 26, 2017, both wins Electronics released a statement saying its subsidiary, Barry Cash, had signed a memorandum of understanding to buy assets with Takata.
Upon completion of the acquisition, it will be followed by a massive overseas acquisition by Chinese companies in the automotive industry following the acquisition of Volvo by Geely Automobile.
Capital for technology
"If the transaction can be successfully implemented, it will help enhance Kyushu's position in the global automotive supply chain and the company will become the world's leading supplier of automotive safety systems with the second largest market share in the world. Wang Jianfeng has publicly said.
At present, all wins electronic products include driver intelligence control system, electric vehicle battery management system, industrial automation production line, air conditioning control system, sensor system, electronic control unit, automobile engine turbo intake and exhaust system, air management system, body Cleaning system, rearview mirror assembly.
Citing auto court Web site Autonews, according to court documents later on November 3, Experian, headquartered in Sterling Heights, of the US, has reached a definitive agreement with Takata to cover Takata At the same time, Takata also submitted the final reorganization plan to the court and claimed that Takata's automaker customers had signed the agreement, though this still requires bankruptcy court approval.
According to court documents of November 3, both parties hope to be approved by the Bankruptcy Court on December 6 and to close the transaction by February 27, 2018.
According to a research report released by QunYi Securities, 43% of Japan's Takata-based customer structures are Japanese firms (lacking in P & L) and 40% are European and American customers, which will complement the customer structure of Experian, At the same time due to the coincidence of customers in Europe and the United States also brought some integration issues from the purchase price of 1.588 billion US dollars, although the formation of a certain amount of financial pressure on the profits, but from Takata's own sales amount, the only part of the airbag revenue About 2.2 billion US dollars, if successful completion of the acquisition and integration, will shorten the company cut into the Japanese manufacturers required time, the potential benefits are considerable.
A number of securities agencies expressed optimism about the transaction, that if the successful implementation of the acquisition program, Bailey is expected to carve up 20% market share of Takata, which will bring new performance wins Jun Sheng Electronics.Changsha Securities said in a research report At present, Experian is the fourth largest vehicle safety system in the world with a market share of 7%. However, CAGR (20%) is the highest in the industry (an average of 6%).
In addition, according to the latest announcement released by Katsunouchu on November 3, including the advanced fund of Katsun Electronics and SDIC Innovative Management, a total investment of 400 million U.S. dollars was used to increase the capital gain. Benefit 84.85% stake, the funds used to meet the business development of Experian.
Peel the balloon business
According to the previous KLSA announcement, Experian intends to acquire the respective assets of Takata in local legal proceedings in North America, Japan, Europe and other regions, including the Chinese market. It is worth noting that among the assets acquired by Experian, Includes questions about the airbag section, which is also the 'infamous' ammonium nitrate gas generator asset.
In fact, up to now, the recycling of air bags in Takata has not yet ended.Open public information shows that there are more than 100 million vehicles recalled worldwide by the 'problem airbags', of which 22 million are in the Chinese market.According to statistics, Currently, the Takata question balloon in the Chinese market has involved 28 car manufacturers, a total of more than 100 recalls implemented, involving more than 100 models, recalls nearly 20 million vehicles.But due to the volume is too large, so a number of producers in batches Recall mode, this work may be delayed until 2019.
Recall costs and a number of lawsuits to Takata financial overwhelmed, there are reports that Takada debt scale of more than 10 billion U.S. dollars.Thus, the bankruptcy became the largest Japanese manufacturing bankruptcy case.Katsun Electronics said Takadanobu Of the ammonium nitrate gas generator assets will remain in the (former) debtor of the U.S. bankruptcy process ('Reorganization of Takada RTK').
'All wins Electronics buy assets through Baili is paid to Takada's bankruptcy management committee, the Commission to deal with compensation and litigation on its own, Takata side follow-up how to deal with airbag recall has nothing to do with us.' All wins electronic media director Chen Yang said both wins Electronics The above deal was targeted at Takata's bankruptcy assets, which also avoided the risks associated with debt and litigation.
In accordance with the established plan, Paramount is able to achieve effective capacity expansion, new market expansion and technology enhancement through the acquisition of major assets other than Takata's airbag business. Both of them will emphasize that in the next operation of Paragon, The effective segregation of the risk of Takata's airbag business to enhance global customer confidence and ensure the stability of its supply chain.
If Takata pushed Japanese manufacturing to the cusp, the recent revelation of 'data fraud' by Kobe Steel is causing global doubts about 'made in Japan.' And this gives Chinese companies a chance to grow rapidly, including zero Accessories are wins in the field of electronics, and batteries in the upstairs' Ningde era, etc., with the manufacturing of China have begun to strengthen the road to global campaign.