Before visiting ASML in the Netherlands, Xu Teng took a day to visit the headquarters of MBS Group in Switzerland and have a short meeting with key members of the board of directors. Pen & Fun & Pavilion www.biquge.info

The great changes in the domestic machine tool industry and steel industry in recent years have a great relationship with Jiang Ningyuan.

Jiang Ningyuan's economic thinking is biased towards the special field of combining the planned economy with the market economy...... This is the main reason why Lao Jiang had a brief period of glory in the early 90s, and then he was unsuccessful for a long time.

Because since the 90s of the last century, this Jiang Laomo has been a non-mainstream in the domestic economic circles.

After 2005, with the strong rise of the Asia-Pacific Economic Research Institute, Lao Jiang's influence was great, and he actually ushered in a new peak in his life and realized the lofty ideals of a Chinese intellectual.

As a staff member, from China's steel industry to the machine tool industry, Lao Jiang's academic opinions were all controlled by the government, and he demanded that administrative orders be used to forcibly promote integration, concentrate resources to build several world-class large enterprises, and use the advantages of size and capital to compete with foreign and private enterprises.

Xu Teng often said that the free market economy is the biggest lie in the world...... The source of this sentence came from Jiang Ningyuan.

This has something to do with Lao Jiang's life experience.

The period when Lao Jiang studied and taught in Britain happened to be the merger of Germany and the establishment of the European Union, which happened to be the late period when Margaret Thatcher and the Labour Party were in power, and the privatization of state-owned enterprises by the British Labour Party eventually led to the collapse of the entire British manufacturing industry, leading to the phenomenon of the German economy being one of Europe.

Lao Jiang has been in business for a few years, and he has a very thorough view of the greedy and profit-seeking nature of private capital, coupled with his long-term work in the planning system, he finally formed this kind of non-mainstream thinking, which has more or less affected Xu Teng.

Therefore, in 2010, there were three machine tool giants at the level of central enterprises in China, one is the National Machinery Group, China Machine Tool Industry Holding Group Corporation, the other is the Shenji Group formed by the integration of the Northeast Machine Tool Industry, and the last one is Huateng Precision Industry Holding Group Co., Ltd. - Huateng Seiko, which is controlled by Huayin Consortium.

Strictly speaking, the big three of China's machine tool industry are competitors, but certainly not for the time being.

The core assets of SINOMACH Group are five large state-owned groups, mainly heavy and heavy-duty machine tools, which are mainly heavy and super-heavy, and can be called the culmination of the country's heavy equipment, and integrate the extra-large forging machine tools invested by various heavy machine tool factories in China in recent years.

The main acquisition direction overseas is also heavy machine tool factories and tool companies, including Germany's Wadlisi-Coburg Heavy Machine Tool Factory, Germany Hammer and other top ultra-high-precision machine tool companies, and now the most important acquisition targets are Sweden's Seco Tool Group and Germany's Hammer Machine Tool Company.

The Huayin consortium will certainly not stop the cooperation of financial business because of competition between the two sides, and in the negotiation of the Sinomach Group's attempt to acquire Sweden's Seco Tools, the Huayin Consortium is responsible for the full agency and financing services.

This is very difficult, although the financing capacity of SINOMACH is close to unlimited.

As for the German hammer machine tool company...... Is the leader of the national aircraft a fool when the Germans and the EU?

Let's put it this way, the most important big customers of the German Hammer Machine Tool Company in Europe are Rolls-Royce and MTU, do you think the EU can't see what you want to do, or do you really think that the Germans are poor and crazy?

Huayin Consortium has been talking about acquisitions overseas over the years, why is it accurate to talk about it, there are basically not many failure cases, it is very simple, you have to be able to analyze, you have to have bargaining chips.

The profit of Seco knives is first-class, and the absolute controlling party of Seco Group is the king of the world's first knife industry - Sandvik, and it is indeed very difficult to buy Seco from Sandvik Group, but as long as you have money and chips, it can still be discussed.

The senior partner in charge of the acquisition business of the Huayin Consortium was formerly the CEO of the China region of the American public relations firm Boyaa and the beautiful Li Yifei, and is currently the executive vice president of the international investment department of Huateng Company.

Li Yifei, a beautiful woman, rushed to the SINOMACH Group with interest and asked the leader what chips he had in his hand, and the leader looked confused.

Talking about asset transactions with the world's top 500 giants who are not short of cash and not losing money, the more chips the better, Xu Teng acquired Audi from Volkswagen, and exchanged at least four chips, of which Volkswagen and Porsche equity issues are the most critical, forcing opponents to negotiate, followed by the asset ownership of Jaguar and Land Rover, the third is the long-term debt that affects the stock price of Volkswagen, and the fourth is the cooperative transaction of the Baofuhua Alliance.

SINOMACH's ambition to acquire Shangao is commendable, and there is no bargaining chip, only foreign exchange.

It's awkward.

Xu Teng really felt that even if he used a lot of connections in Sweden, he might not be able to force the Sandvik Group to negotiate, he had the bargaining chips that could make the Sandvik Group happy, but he couldn't use it.

Xu Teng doesn't have to care too much about this matter, anyway, after the National Machinery Group hits a wall, he understands that it is not yet the time for Chinese to dominate the world, and money is not omnipotent, so he will naturally follow the advice of the Huayin consortium and turn to acquire Weidia, a slightly smaller target with unsatisfactory performance.

Compared with the National Machine Tool Group, the Huayin consortium is relatively much smarter, first using overseas funds to acquire a slightly more reasonable Manchester metal, and then slowly supporting Warwick to acquire Sweden's second-tier brands and other group's branch tool business, and supporting Manchester Metals to acquire Germany, Belgium, Austria, Switzerland's second-tier small brands, not pursuing top brands.

Quietly, without causing any attention, the two companies combined, can also be among the world's top ten cutting tool groups, and in the United Kingdom and Sweden there are two very good technical test centers, with the United Kingdom, Germany, Sweden, Switzerland in the field of metal materials in the field of more than a dozen university research institutions, have established a very extensive cooperative relationship.

This kind of thing is the same as the devil entering the village, you have to quietly bypass the main road, in order to avoid the eight roads, in order to catch the little daughter-in-law of the landlord's family and the old hen of the villagers' family, to moisten things silently, to complete various acquisitions and layouts before the old Europe is alert, and to slowly get the R & D team in hand.

You're afraid that others don't know, so much fanfare always wants to do a big political achievement, and you haven't bought a single hair, which has already made the old European knife industry panic.

According to Xu Teng's idea, your national machine uncle should do a good job of heavy and super heavy machine tools, what kind of tools?

His Yinmei plan did not touch any of the top ten European knife and special metallurgical enterprises, but it also basically achieved the goal, and it was almost done before the implementation of "comprehensive deepening integration" in 2011, but it has been silent.

Therefore, China's economy is not good.

The central and state-owned enterprises have backbone and enthusiasm, but they always have the wrong methods, and the system and personnel selection are indeed a bit rigid; the methods of the private enterprises are correct, but they really have no backbone, and they are also aiming for the Growth Enterprise Market (GEM) to engage in some undertakings, and 90 percent of them are speculators who make a fortune and run away.

If nothing else, let's just talk about the leadership of Han Yongsheng of the National Machinery Group...... It can't be said that the quality of the business is not good, at least the overseas acquisition is a bit too much to make political achievements, and I really want to make a big news.

When Xu Teng went to Sweden for a visit and inspection, there was this Han leader in the lineup of Chinese entrepreneurs accompanying him, and he went to Sandvik and Shangao with great interest without a single stroke.

Xu Teng went to Germany, and Han leaders also arrived in Germany randomly.

Xu Teng went to Switzerland to inspect MBS Group, and Han Leader also came with him, and the board of directors of MBS Group thought that the other party was a joint partner of the Huayin Consortium, after all, that formation was among the leaders of the consortium at a glance.

As a result, when Xu Teng and the board of directors of MBS Group were meeting, a director actually invited Han Leader in the living room.

It's embarrassing.

The Swiss pay great attention to etiquette, and under normal circumstances, the chairman of the board of directors is the upper seat, and the other directors are on both sides, but Xu Teng is not a member of the board of directors, but the largest shareholder, and the largest creditor of the entire MBS group.

Therefore, the location of the conference room is very cleverly arranged, instead of sitting as usual, Xu Teng sits in the center of the south side of the long table in the conference room, with his back to the window, Pascal Jeni, chairman of the Swiss MBS Group, sitting opposite, and the others are the directors of the group and the CEOs of the three subsidiaries of Bumerme, Mikron and Strager, as well as Mr. Hemerson Rodfenshiner, the plenipotentiary representative of Xu Teng in the European machine tool industry, and Yu Suyun, the chief assistant officer of Xu Teng.

Yu Suyun just arrived in Europe a few days ago, because Han Dai's mother-in-law was hospitalized for a big operation, so she temporarily changed her position and let Han Dai return to China.

Han Dai actually doesn't really want to go back, but if she doesn't go back to take care of her mother-in-law at this time, her life at home in the future will definitely be very complicated.

As soon as the Han leader of the National Machinery Group came in, he felt that the situation was not right, and he and Xu Teng were very embarrassed.

What should I do, I am also a deputy ministerial-level leader, and the business and equipment under management are all important weapons of the country!

Xu Teng reacted quickly, got up and left the table, and went to talk to Leader Han about something first, "I asked you to come over, but I actually wanted to ask you something." ”

"Oh!" Leader Han took a closer look, although he didn't know what Xu Teng wanted to ask him, but he really felt that there was something wrong with this conference room, could it be that Huateng Company already controlled the Swiss MBS Group?

Isn't it?

At the beginning, Han leaders actually didn't believe it, what level is MBS Group, it is much more high-end than the German Hammer Machine Tool Company, equivalent to 4 times the level of German Hammer, the king of the global ultra-high-precision machine tool industry, and its status in the machinery industry is equivalent to the AMSL of the semiconductor industry.

MBS Group's output value is not high, however, all equipment is sold to first-line machine tool giants.

There are two mother machines of high-precision CNC machine tools, one is a heavy-duty machine tool, and the other is an ultra-high-precision machine tool.

Why does Han want to acquire the German Hammer Machine Tool Company, because the SINOMACH has completed the layout of heavy and ultra-heavy machine tools, as long as it wins one or two more ultra-high-precision machine tool companies, it can not only meet its own needs, but also become the upstream company of all machine tool enterprises in the country.

What is called political achievements, this is called political achievements.

What is domineering, this is called domineering.

What is the backbone of China's industry, this is called the backbone of China's industry.

The foreign exchange given by the superior leader, he and Lao Han have to use it on the blade.

Duang, in just such an instant, Han leader realized, oops, the Huayin Consortium is so fast, the chicken thief, and it will control the Swiss MBS Group without making a sound...... Leader Han quickly stabilized his artistic conception, it doesn't matter, he has foreign exchange, he can invest in shares together, he is a central enterprise giant, a pillar of the country, this is his bargaining chip.

You see, Han Leader's neuronal deep learning ability is still very strong, and he comprehended the true meaning of chips so quickly.

He didn't expect, nor did he think that the Swiss MBS Group was established behind the scenes promoted by the Huayin consortium and UBS Investment Bank, and UBS completed the transaction of asset operation and has cashed out, and nearly 35% of the equity of the entire MBS group fell into the hands of the Huayin consortium.

"Well, my meeting may be about an hour, so let's talk about it later. Although Xu Teng's reaction speed was fast, he really didn't have anything to negotiate with Leader Han, and he couldn't think of anything after squeezing for more than ten seconds.

"Okay, okay, no problem, in fact, as long as you open your mouth, although China is big, who can say no to you, then I will continue to visit their processing center, you are busy!" Leader Han is not in a hurry, he has already thought about it, and he will show his chips when Xu Teng finishes the meeting.

"Okay!" Xu Teng didn't expect that Leader Han would dare to beat his idea, and he deliberately shook hands with Leader Han, personally sent the other party out of the conference room, and by the way, sent a text message to call Li Yifei, who was very familiar with Leader Han, and stared at Leader Han, don't let this deputy ministerial-level leader of a central enterprise run around.

Xu Teng is telling the truth, his next step is to go to the Netherlands and Belgium, all for the sake of lithography machines, and then he will go to Russia to lay out a real financial tragedy and wash Russia in blood...... None of this is anything to do with Leader Han.

You are a leader of a central enterprise, wouldn't it be good to return to China as soon as possible?

Xu Teng should actually think about it carefully, his peers are enemies, and Han Leader has actually had nothing to do recently, just staring at him, and if he has the opportunity, he will engage a third party to intervene and forcibly cooperate with the Huayin consortium to invest in the European machine tool industry.

In particular, the acquisition of Audi by the Huayin consortium has been very stimulating and quite great for the leader of Han, who has been sitting on the Audi A6 for ten years.

Old Han really can't understand, unless the Volkswagen Group and the Porsche family have a brain disease, how can they transfer Audi, isn't this sick? Yes, many Chinese don't understand, everyone can only say that Xu Teng is too rich and too bullish.

These people never thought that Xu Teng had been planning for this matter for five years, of course, Xu Teng's initial target was Volkswagen's MAN, or Scania, either, Audi was purely an accident within an accident.

This matter has only one impact on the Han leader of the National Machinery Group, in any case, he has to keep an eye on Xu Teng, he believes that Xu Teng is not in a hurry to return to China to deal with the local business of the Huayin Consortium, which means that there are still major mergers and acquisitions in Europe, and major performance to deal with.

In case it is the machine tool industry, the tool industry, construction machinery, and metallurgical materials, then it is really necessary to intervene in any case.

How so?

Leader Han's idea is not very shameful, but he is not informal, and those who want face can't do big things, and they can't be promoted!

Xu Teng has three things on the Swiss side, he is responsible for the affairs of MBS Group, and Gu Shengyuan, chairman of the Central Control Group and co-partner of Huayin Consortium, is responsible for negotiating with ABB to resolve some technical patent disputes.

Carrie May, the chairman of the board of directors of Intertrust International Group, and another co-partner have to negotiate business with UBS and UniCredit Bank USPA, and her affairs are more complicated, and she may not be able to finish the talks in three or four days, and may have to go to the USPA bank headquarters in Milan.

Swiss MBS Group is the core supplier of Huayin Consortium in ultra-high-precision machine tools, and it is also a technical partner.

In fact, MBS Group is also the core supplier of SINOMACH Group, which has a lot of forgings and industrial devices when it is irregular, and has to go to MBS Group for help, spending money to solve problems, and often spending a lot of money...... There is no way, they are all administrative orders that must be completed on time, and if you can't bear it, you will have to be laid off.

Private and listed companies generally can't bear this price and cost.

As the largest shareholder and core creditor of MBS Group, the Huayin Consortium basically solves problems at internal prices, including Prima, Lorfenshiner, and Warwick, all of which have provided a lot of technical support for the local business of the Huayin Consortium.

Xu Teng came here this time, mainly to understand the financial situation of MBS Group, not the figures on the financial statements, but the truth, and the other is to appoint a group of design and engineering technicians to MBS Group for internship training - this is a big move between the Huayin Consortium and various European business divisions.

In recent years, Huateng Seiko Group has to send thousands of employees from the local to the European branch every year for medium and long-term training, with one year in the medium term and three years in the long term...... Money-saving tricks, cheap labor.

In fact, there are not many machine tool companies, after two layoffs of Prima Group, now there are 7,200 employees, and there are no recruits after a large layoff, what should I do if there is a shortage of labor in the European sector?

First, higher mechanization, and second, substitution with Chinese interns.

This is a big move, the headquarters has completed the training work, the European branch has greatly saved salary costs, you know, to hire a front-line machine tool worker in Italy, if you still have three or four years of work experience of skilled workers, at least 120,000 euros a year.

In Sweden, the figure is close to 200,000 euros a year.

Xu Teng also did a very special experiment, sending some of the laid-off experienced engineers and skilled workers to China, and the results were interesting: these people were too lazy to leave you speechless in Italy, but when they arrived in China, most of them were able to work for eight hours a day...... This may be due to the stimulus of the experience of unemployment, but to a greater extent it proves that people are social animals.

When everyone in the society around you is very hardworking, you will inevitably have to keep up with others, and when everyone in the society around you is lazy, you will inevitably be more lenient with yourself.

Xu Teng's time in Switzerland was limited, and he didn't have time to wait for the matter to be negotiated on Mei Jiali's side, so he boarded the plane and went to the Netherlands.

On the plane, Xu Teng still had a lot of things to explain, and he had a 20-minute short meeting in the second cabin of the A340 special plane, and the presidents and heads of various departments were all present.

As soon as the meeting ended, Xu Teng was chatting with Yu Suyun about the itinerary for tomorrow's visit to the Netherlands, when Han Yongsheng, chairman of the National Machinery Group, suddenly pushed the door in, as if he had something to say.

"That's right......!" Leader Han seemed to think for a while before remembering, "Chairman Xu, didn't you tell me in Zurich in the afternoon that you had something to discuss?"

"Oh, oh...... Oh!" Xu Teng said three words in a row, each time in a different tone, the first time was surprised, the second time was thoughtful, and the third time was relief and surprise.

He finally thought of a thing, he could talk to Leader Han, of course, not to ask the leader how long the plane had been rubbing, everyone was a peer, and he hadn't been so rude.

"It's still about you merging and appending Seco Company, a few days ago, the old director Rofenshina told me a thing, he and Mr. Goenz, the chairman of Seco Group, know each other, and after arriving in the Netherlands, we can actually arrange a meeting and talk. What do you think?" it was not easy for Xu Teng to think of this, it was just dinner time, and he talked about it inadvertently.

"Okay!" Han leader actually did not have much hope, he was originally the leader of Sichuan Machine, and later transferred to Pangang to serve, the performance must be very good, 09 years when the formation of the national machine tool group, the central machine tool giant, he still spent some thought, and finally got his wish.

His experience is advantageous, he has a good understanding of the machine tool industry and the metallurgical field, and he would like to make a breakthrough in the field of China's tool industry.

The problem is that the selected target is a bit high, and the wrong country is also chosen, Sweden's enterprises are actually the most difficult to acquire, Xu Teng has acquired companies in Europe hundreds of times, and in Sweden it is really like a big enemy every time.

Leader Han had followed Xu Teng to Sweden for an inspection, and rushed to the headquarters of Seco in high spirits for talks, because he had had several video calls with Chairman Brusta Goenz, and the other party always minded the status of their SINOMACH as a state-owned enterprise.

The leaders of state-owned enterprises are really motivated and have nothing to say.

Han leaders made a lot of preparations, and even learned Swedish for more than a month, in order to dispel the other party's doubts about Chinese-funded state-owned enterprises and SINOMACH Group by showing their charm and enthusiasm during the meeting...... This is all the eight chicken soup inspirational texts of the Central Propaganda Body, and I have seen too much.

The whole process of the meeting was very tragic, and the result was naturally tragic.

Han led the follow-up to find several Swedish tool companies, but the result was either that he was not satisfied, or that they had no intention of being acquired...... How to say, in Sweden, the real worth merging and acquisition of knife companies belong to the Sandvik system, even Xu Teng a few years ago, through the acquisition of several holding subsidiaries of Sandvik was not very good, but it was abandoned.

"Just meet and talk?" Leader Han thought about it carefully and was a little disappointed.

"Well, that's it. Xu Teng saved up his thoughts and decided to say a few more words to Leader Han, after all, he was a major customer of a central enterprise, "Actually, Lao Han, let me tell the truth, let's not consider the level of Shangao, you should try your luck, and if you don't touch it, forget it." I think the Walter and Widia recommended by Li Yifei are more worthy of your consideration, after all, they are both German family businesses, and it is not very difficult. ”

"Okay, I'll think about it. "Leader Han is really considering, first, Li Yifei is very beautiful, very sweet, very good at talking, very good at coaxing people; second, Li Yifei is telling the truth, just very tactful and good; third, Han leader is still more familiar with the knife industry, if you can really buy Walter, or Weidia, it is also quite good.

Han leader is very realistic, he is estimated to be able to work for five years in the National Machinery Group, unless the contribution is particularly large, it is difficult to delay retirement for a few years in the position of the leader of the central enterprise.

If he can acquire the level of Shangao and rewrite the overall level of China's tool industry, he will be sure to delay his retirement for a few years...... So, you have to give it a try.

Even if you can't buy Seco, it's not bad if you can buy a few at the level of Walter and Widia.

Regarding the idea of this Han leader, Li Yifei, who is in charge of the financial services and corporate consulting business of SINOMACH, reported to Xu Teng in an email a few months ago that he did not have a complete idea, but purely wanted to achieve political performance and performance engineering.

Xu Teng actually knows a little more, Lao Jiang's influence in that position is still relatively deep, so the central economic level in the industrial layout, the importance of machine tools, alloys, materials, tools in the field is much higher than in the past, and will take out a lot of foreign exchange to support overseas mergers and acquisitions.

Because these are the foundations of an industrial power, for the time being, do not seek to achieve the level of Japan and Germany, at least to be able to fight with South Korea, and Lao Jiang has a very hawkish judgment - South Korea is unreliable, and there is no future for industrial integration in Northeast Asia with South Korea and Japan, and it is useless to make mutual benefits, and it is too easy to be interrupted and separated by the United States.

Therefore, Lao Chiang's view is the same as Xu Teng's, this is the result of mutual influence, China can only engage in industrial integration with Europe, even if the United States wants to mix sand, it is too difficult.

National machine, China Machine Tool Industry Holding Group Corporation, 2009 was formed, relying on the executive order to integrate the domestic heavy machinery assets, rushed to invest in the tool industry, this is not Han leadership brain problems, but too shrewd, engaged in political speculation, but also want to grab foreign exchange support with Minmetals Group!

Xu Teng was not so excited, because he did not lack tens of billions of dollars in foreign exchange, and the knife industry was not so easy to toss.

China's tool industry has not been able to reach the level for many reasons.

Xu Teng personally thinks that the main reason is the two basic problems of talent and market economy.

Tools are consumables, from the world, there are more than 50 first-class tool companies in the world, in Sweden, Germany, Japan, Switzerland, the Netherlands, France, Italy...... Not famous, but there are also decades of history of workshop-style knife enterprises are massive, more than thousands.

Basically, each of the big factories has its own characteristics and advantages.

Small factories basically have a small field that they are particularly familiar with, and large factories are unwilling to waste resources to conquer those fragmented markets.

Therefore, the competition in the global tool industry is still very fierce, even the price of imported tools in China is moderate, and the profit is not high, not to mention that the domestic volume of cemented carbide tools is basically produced locally by foreign capital.

This is a bit like the problem of ballpoint nib steel balls, large factories have the ability, really want to do it, time-consuming and thankless, small factories have no ability, can only desperately do the most low-end knives with no technical content, crazy volume price war.

As for materials, management, and business ideas, these are actually fine.

For example, although China's materials science and R&D system has been weak for a long time, the situation has improved significantly in the past decade.

In addition to the long-term and stable industrial planning and macro layout at the government level, Huayin Consortium has also invested more resources in the field of materials since 2004, and has cooperated with a number of large metallurgical enterprises and material chemical enterprises in China to build more than a dozen alloy material research centers, and also cooperated with many universities and scientific research institutions.

In addition, the Huayin Consortium also cooperates with central enterprises, local state-owned enterprises, and some excellent private enterprises to purchase technology from foreign research institutions and enterprises, or directly merge and acquire small and medium-sized metallurgical enterprises, or invest in large metallurgical enterprises.

At present, many large enterprises in China, especially the vice-ministerial-level central enterprises such as Minmetals and Sinochem, have a stable supply of high-tech alloys and materials.

However, domestic knives and machine tools are still as bad as ever.

Xu Teng's own experience, domestic people who are engaged in knives, machine tools, and industrial basic devices, as soon as they find the reason, they will find the fault of the material, to put it mildly, even if the material is not domestic, Europe, Japan and South Korea basically do not prohibit you from exporting.

You yourself have no experience in using these labeled alloys and materials, and you don't dare to use them, but you don't dare to use them, so why don't you blame domestic materials?

If you use it, you can't do it, and you can't compete with others, so it's also a problem with your design.

As for state-owned enterprises, there are still problems with enthusiasm and service attitude, and private enterprises are making money every day.

Therefore, Xu Teng's attitude towards the development of the tool industry, really does not emphasize the need for localization, he is now mainly taking the strategy of shareholding and support, choosing to cooperate with Baosteel Group and Minmetals Group, focusing on supporting Nantungsten Group, a subsidiary of Minmetals Group, through capital injection, technology transfer, financial services and enterprise reform consulting services, to assist Nantungsten Group in internationalization.

In recent years, the cemented carbide production capacity and technical level of the tungsten group have been improved rapidly, and the German, Japanese and Korean tool factories in China have also purchased a large number of tungsten cemented alloys, but the tungsten group's own tool business is still not good, the high-end can not go up, and the low-end volume can not compete with Korean and Taiwanese capital, so it can only continue to sell alloys.

In foreign countries, in addition to injecting capital to expand the tool business of Warwick and Manchester Metal, Xu Teng has also been increasing his holdings in Iscar and the German Leitz and Weimaro, and slowly supporting them through financial services and joint ventures.

In fact, Xu Teng also took advantage of the dip in 2008 to absorb the shares of Sandvik Sweden, the overlord of the global tool industry, but finally failed to reach a framework agreement for long-term cooperation, and could only cash out the shares to the board of directors of Sandvik Group at the peak of the following year.

In 2013, when Xu Teng returned to Sweden this time, three years ago, when he finally realized how much it would cost to refuse to cooperate with Xu Teng, the board of directors of Sandvik Group regretted it and passed on the news through some channels, hoping to renegotiate the cooperation framework.

Xu Teng did not refuse to negotiate, but he personally felt that it was difficult to reach a cooperation framework, and in the past few years, the Huayin consortium has invested too deeply in companies such as South Tungsten, Iscar, Warwick, Manchester Metal, and Lantz, and the interests are very tightly bound.

In the 70s of the last century, Sweden had at least more than a dozen first-class, as well as quasi-first-class knife companies, and in the 90s, in essence, only Sandvik and Shanco were left two groups, and the others were merged, Sandvik and Shanco essentially belonged to one family.

Because of the self-contained system from bearings, gears to machine tools, tools and software systems, Worrick can barely retain part of the cutting and boring tool business, but it is far from being able to compete with Sandvik and Seco, and the scale gap is far away.

In the end, because of the serious loss, it was transferred to Xu Teng at a high price by the Yinruida consortium, giving Xu Teng the opportunity to cut into the Swedish industrial system.

In contrast, so far, the tool companies in Germany and Japan are still relatively scattered.

This question illustrates the essence of the structure of the Swedish economy – the gate valve.

Sweden is one of the very few countries in Europe that avoided World War I and World War II, and the inheritance and cumulative effect of family wealth is obvious.

Unlike Switzerland, which did not form a truly unified economy until the 19th century through a federal system, Sweden has always been a unified kingdom with a very stable state and aristocracy.

Before World War I, the relationship between the Swedish royal family and the German royal family was very close, and the national conditions and economic situation of the two countries were almost the same.

The real difference between the two countries began in World War I, and it was not until the end of World War II that Sweden and Germany became completely different at the economic level.

In Sweden, there are countless wealthy families with a history of 170 years like Wallenberg, and Xu Teng alone has been in contact with more than a dozen, and they are almost exactly the same investment style, and they have widely invested in all the advantageous companies in Sweden.

With the expansion of the international free trade system, Sweden's internal economic level has been rapidly integrated, bearings, steel, machine tools, cutting tools, metallurgy, aviation, ...... There is usually only one world-class giant, which works closely with each other to form the basic elements of a developed industrial system in a country of 9.8 million people.

This is the truth about the Swedish economy.

It also took Xu Teng many years to slowly figure out this truth - the behind-the-scenes shareholders of these world-class companies in Sweden are basically the same lineup.

In Sweden, Hegnas Group is a world-class supplier of metallurgical mineral powders, Sandvik Group is the world hegemon of alloy manufacturing, cutting tools and mining machinery, SKF is the world's bearing hegemon, Volvo focuses on construction machinery, trucks, buses, Saab is mainly in the aircraft and aviation industry, SSAB is Sweden's steel alliance, and its more than a dozen medium-sized steel plants each focus on a field of segmented high-end steel market, ABB is electrical equipment and automation, The overlord of the industrial robot industry, Ericsson is the overlord of telecommunications equipment manufacturing and communication technology.

The internal cooperation and division of labor between these Fortune 500 Swedish enterprises are extremely tight, which is like the most tightly planned economic model in the world.

It wasn't until he visited Sweden again in 2013 that Xu Teng finally discovered that the holding funds of Sandvik Group and Hegnas Group, as well as the holding funds of Warwick, as well as the long-term holding funds behind ABB and Scania, actually came from less than 40 family funds, and almost all of these funds have a history of more than 50 years...... Half of it is 100 years old, and Wallenberg, a 170-year-old family in Sweden, is actually not the longest-inherited, and the oldest ones are more than 300 years old, but they are not as strong as the Wallenberg family and the Yinruida consortium.

In fact, you can also understand that those new family foundations that are 50 years old are generally branches of older families, and the female heirs marry a prominent professional manager, giving birth to a new family.

This has happened 4 times in the history of the Wallenberg family alone.

Awesome country!

Xu Teng only had a capital service in his heart at that time!

Therefore, no matter how strong overseas capital is, it is difficult to acquire a company in Sweden, and the possibility of wanting to control a Swedish international giant is almost zero, unless the Swedes themselves give up.

Of course, Sweden does not have a rich person in the absolute sense, the wealth of these families is in the form of trust funds, after all, Sweden's property inheritance tax is as high as 98%, and these family trust funds are passed on for more than 100 years, and the beneficiaries of the property are relatively scattered.

Each generation of these families has a few high-profile individuals who are expected to manage the family trust, and this characteristic also determines that Sweden's economy has a terrible stability.

Therefore, regarding the grand plan of SINOMACH to acquire Secocca, Xu Teng realized that it was absolutely impossible after his second visit to Sweden, especially after meeting with the main shareholders of Scania.

For Xu Teng, for the Huayin Consortium, and for The-ShunFamliy, these Swedish families are generally very welcome.

Capitalists, everyone has a common language, especially after Xu Teng taught Sandvik Group and ABB Group a lesson, they no longer have any temper, Xu Teng proposed to use the shares of Huateng Automobile to replace all the shares of Scania, only a warm applause remained, and everyone had good expectations for Scania to go to China and dominate the world.

In fact, Xu Teng and the Huayin consortium are in Sweden, in the United Kingdom, in Germany, in France...... Investments in these countries are also very responsible, the trend of localization is obvious, and the consortium of which country is cooperated, and the distribution of benefits is also fair.

These entrepreneurs and investors in Europe may indeed prefer to deal with the rich second generation.

Regarding this point, Mr. Xu may have discovered it earlier, and spent a lot of effort to fabricate a deep history and family heritage of The-ShunFamliy, the old man changed from the workshop director of the Weixian Chemical Plant to the manager, from a small platoon commander during the period of resisting US aggression and aiding Korea to the deputy head of the regiment, and it can be verified, the record is clear, Mr. Xu is magical!

The genealogy of the old Xu family is even more fabricated, and it is hard for Mr. Xu to climb a powerful relative in Xumiao Town, Su County, Huaizhou, and make him a scholarly family in Huaizhou, Li Hongzhang's protégé, after Xu Renzhu, a late Qing dynasty Hanlin in Huaizhou, and Xu Binglin, an entrepreneur in the Republic of China.

How did this pro climb up, Xu Teng actually didn't check it carefully, it was roughly related, it may be a distant relative of Xu Binglin's family, or it may be a long-term worker of Xu Binglin's family, anyway, it must have been a family hundreds of years ago.

This is not after 2002, around 97 years, Mr. Xu moved to Hong Kong before it was done, and spent a lot of money to invite experts to revise the old genealogy of Xumiao Town, in Mr. Xu's words, the provincial museum can not find out the authenticity.

On Wikipedia, there are various other encyclopedias, English, German, French, Spanish...... In 2003, all the edits were clear, and it was really powerful to be able to point all the way from Xu Teng's link to Zeng Guofan.

The most terrifying thing is that Mr. Xu not only invested hundreds of millions, but also filmed a "Oriental Coal King" based on Xu Binglin as the prototype when the coal boss and the Republic of China drama boom were hot, and sent it to the CCTV platform for broadcast with all his might, and in 2007, he actually dared to go to Huaizhou Suxian to worship the "ancestor", and Xu Binglin's dozen great-grandchildren, great-granddaughters, and great-grandchildren who were scattered all over the world hugged and cried...... Of course, Xu Teng is not surprised, this is Mr. Xu's style, this is his familiar father.

It can be seen that history has indeed been left to the victors to fabricate.

Xu Binglin is a person worth writing in the history of Huaizhou, not only the big landlord comprador class in Huaizhou, but also the earliest coal boss in the history of Huaizhou, very similar to Sweden and Germany before the First World War, from the owner of the manor to the factory investor, from the small aristocrat to the capitalist.

It's just that from the late Qing Dynasty to the reform and opening up, there are too many wars and revolutions in China.

Therefore, war and revolution are sometimes a good thing, reshuffle the bourgeois gate valve class, if China's wealth is almost concentrated in the hands of dozens of gate valve families that have been inherited for hundreds of years, Xu Teng feels that he might as well die more happily.