CIMC Wins CHKD Successful Restructuring Award

Date:2018-01-25 Source:www.chinatrucks.com

Chinese Chamber of Commerce in Germany (CHKD) held its first “CHKD Invest Award Ceremony” in Berlin on November 13. More than 100 people, including Mr. Shi Mingde, Chinese Ambassador to Germany, Ms. Wang Fang, the representative of the chairman unit of CHKD and Vice President of Bank of China Frankfurt Branch; Mr. Friedolin Strack, Managing Director and Coordinator Germany Asia-Pacific-Committee of Federation of German Industries, representatives of CHKD director units and guests from Chinese and German industrial and commerce circles, attended the award ceremony.

The “CHKD Invest Award” is set to encourage Chinese enterprises to actively send messages to the German community, enable Germans to gain more thorough and objective understanding of Chinese enterprises’ investment in Germany, build up the good social image of Chinese investors, and share successful experiences.

The judging panel for the “CHKD Invest Award”, composed of the Economic Daily, PricewaterhouseCoopers, China Europe International Business School and CHKD, presented the “Successful Restructuring Award” to CIMC after comprehensive assessment of the investment objects, investment amount, post-investment management, return on investment and investment risk.

CIMC has successively acquired 3 Germany-based companies since 2008, namely TGE (TGE is a global leading company in LNG terminal, LNG plant and engineering design and project management and ECP), ZIEMANN (ZIEMANN is a global leading supplier of turnkey brewery plants and saccharification equipment, and it is a well-established beer equipment specialist. Today, it provides equipment and engineering services to the world’s famous beer plants and acquires over 30% of the orders worldwide), Ziegler (Ziegler is a leading firefighting truck manufacturer in Germany and Europe. As a company with 126 years of history and one of five major firefighting truck manufacturers in the world, it mainly designs and manufactures different kinds of firefighting trucks and equipment). After the acquisition, the three companies have made best use of CIMC’s global operation resources and successfully turned losses into profits. (www.chinatrucks.com)