ZOOMLION insists on innovation and merger of Holland elevator enterprise Raxtar       

In August 8, 2014, ZOOMLION (000157.SZ) signed a merger agreement with Raxtar, the Holland elevator company. ZOOMLION's acquisition will help Raxtar company for many years in the field of elevator rich international production, research and development and high-end marketing experience, greatly enhance the ZOOMLION elevator in the global market competitiveness and brand influence. The talks lasted two years. Huang Qun, vice president of ZOOMLION and general manager of crane company, said.

Statistics show that Holland Raxtar company is a research and development, production and sales as one of the world's leading elevator companies, covering the construction of the lift, transmission platform, elevator and elevator industry, its products have been involved in the construction and construction elevator construction such as the world trade center in New York and other global multiple international benchmarking project.

He Wenjin, vice president of ZOOMLION, introduces that the transaction structure of the acquisition is innovative and provides a new reference for cross-border mergers and acquisitions of Chinese enterprises. Specifically, ZOOMLION did not direct control of Raxtar, but the acquisition with less input of the latter 35% of the shares, the advantage of this is that as soon as the process technology and good control of the introduction of Chinese; the second step, intervention option trading, complete acquisition of Raxtar at the right price.

However, the two sides did not disclose the purchase price and the operation of Raxtar.

In the new organizational structure, we will also China in Europe and set up R & D institutions, the two sides will work closely in order to understand the needs of customers in different markets worldwide, no competitor can understand customer needs and solutions according to the demand for new, through localization like us while sharing technology and benefits in the world Raxtar Pascal, general manager of introduction.

The industry experts believe that: the domestic elevator industry development momentum is very strong, there are also some problems, mainly low in technology content, quality of equipment failure, lack of technology, the service level is not high; while the mechanical power lift products in Europe has 200 years of history, there are strict requirements for the development and application of core technology for product safety and reliability with the most demanding standards.

After years of research and development and mergers and acquisitions, ZOOMLION has become the world's leading construction machinery manufacturers, but also rare suppliers to provide a full range of Engineering equipment. The ZOOMLION choose to cooperate with Raxtar in the overall development of the industry slowdown in the environment, will inject good genes and excellent quality ZOOMLION brand lift, marking ZOOMLION is committed to creating a global leader in the field of construction lifts to make substantial progress.