Fong’s Industries merged with China Hi-Tech Corporation to favourable for the Chinese and the Global Textile Industry
 

Following to a sale and purchase agreement between China Hi-Tech Group and Mr. Fong Sou Lam, the controlling shareholder, Chairman and director of Fong’s Industries Co. Ltd., both companies announced in January 2011 that China Hi-Tech Group is to make a possible acquisition. Now the acquisition took place: China Hi-Tech Group has completed its acquisition of the controlling shareholding in Fong’s Industries Co. Ltd.  
　　2011年1月中国恒天集团与立信工业有限公司控股股东、主席兼董事方寿林先生签署买卖协议后，两家公司均宣布中国恒天集团将立信工业纳入麾下。目前中国恒天集团已完成了对立信工业有限公司控股权的收购。

Fong’s Industries has now a new major shareholder and will remain an independent public company at the HK stock exchange. China Hi-Tech Group Corporation (CHTC) holds a majority of some 60 percent of the shares and (the now) honorary Chairman and Executive Director Fong Sou Lam is holding 22 percent. Through the acquisition, it enables the companies to further strengthen their businesses within the textile machinery industry.
　　尽管立信工业现在有了新的大股东，但它仍是香港交易所的独立上市公司。中国恒天集团（CHTC）持有约60%的主要股份，而（现）荣誉主席兼执行董事方寿林则持有22%的股份。并购后，公司能进一步增强各自在纺机业的运营水平。

Background
　　背景

CHTC has not owned any share in Fong’s Industries before. The company intends to continue Fong’s Industries’ existing businesses, will not execute major changes to the existing operations, or redeploy its fixed assets. Fong Sou Lam said that “China Hi-Tech Group will offer strong support for the future development, facilitating to achieve improved economies of scale and to further strengthen the competitiveness in the field of dyeing and finishing machinery in China and the world. On the other hand, the interest of CHTC confirms that Fong’s Industries has been on the right way with the company values: “Merge with Your Excellence”
　　中国恒天集团之前未持有立信工业任何股份。公司欲保持立信工业的现有业务，对现有经营不会做出重大调整，也不会重新调配其固定资产。方寿林先生说过“中国恒天集团将为未来发展提供强有力的支持，促进规模经济的改善并进一步提高在中国和世界染整机械领域的竞争力。在另一方面，中国恒天集团的利益将确保立信工业仍秉承立信的价值理念：“整合优势”。

The two companies and their respected customers, suppliers and business partners, who continuously supported growth and development of Fong’s Industries, adhere to the philosophy of Fong’s Industries. Through the co-operation of a state-owned enterprise and a family enterprise, Fong’s Industries’ brand concept “A Name You Can Trust for Your Dyehouse Needs” will carry forward in a broader open mind that also holds the culture spirit of China Hi-Tech Group and will tighten the relationship between both staffs.
　　两家公司及其各自尊敬的客户、供应商和业务合作伙伴将继续支持立信工业的增长与发展，并坚持立信工业的理念。通过国企与家族企业的合作，在保持恒天企业文化精神的同时，将立信工业 “立信的标志，染整的信誉”这一品牌理念不断发扬光大，并增强两大企业员工之间的关系。

China Hi-Tech Group (CHTC)
　　中国恒天集团（CHTC）

CHTC is a major state-owned enterprise under the State-Owned Assets Supervision and Administration Committee of the State Council of the PR China. CHTC is different from other state-owned enterprises. Since the implementation of the board of directors system by the State-Owned Assets Supervision and Administration Committee in 2006, China Hi-Tech Group continuously carries on a mechanism of internal innovation, management transformation, long-term development strategies. It also closely regards the textile machinery manufacturing business as its principal business. Furthermore it carries on the visions on global resources conformity and accumulation and precipitation of development internationally.
　　中国恒天集团是国务院国有资产监督管理委员会监管的国有独资大型中央企业。中国恒天集团不同于其他国有企业，自2006年国务院国资委在集团总部重点实施规范董事会制度建设以来，在不断进行内部机制创新、管理变革的同时，亦从长远发展战略上，紧紧围绕纺织机械制造核心主业，从全球视野进行资源整合和国际化发展的积累与沉淀。

The principal business activities of China Hi-Tech Group and its subsidiaries include textile machinery, cargo truck, textile production and trade. CHTC has a controlling stake in listed companies, such as Jinwei Textile Machinery Co., Ltd., a well-known brand with its “A” shares listed on the Shenzhen Stock Exchange, and its “H” shares listed on the Main Board of the Hong Kong Stock Exchange.
　　中国恒天集团及其子公司以纺织机械、商用汽车、纺织生产和贸易为主业。中国恒天集团拥有上市公司的控股权，其中包括著名的经纬纺织机械股份有限公司，该公司是深圳证券交易所的“A”股上市公司，以及香港交易所主板 “H”股上市公司。

The textile machinery field involves four major sectors: cotton and man-made fibre products, dyeing and finishing and nonwovens; however, it has always been short and small-scaled in dyeing and finishing. The dyeing and finishing equipment of Fong’s Industries will perfectly complement the portfolio of China Textile Machinery Co., Ltd. (CTMC), a company, subordinated to China Hi-Tech Group. The deeper meaning for the acquisition of Fong’s Industries is that the “Fong’s way of doing business” will be introduced into various enterprises of China Textile Machinery Group, and it will become an approach for an improving operation level.
　　恒天纺机领域主要涉及四个板块：棉纺织、化纤产品、染整和非织造布；但是，染整设备一直是短板，规模比较小，立信集团旗下的染整设备则弥补了中国恒天集团旗下中纺机集团产品的短板；而收购立信的更深层意义在于，“立信模式”将会被引入中纺机集团各个企业，成为有效提高运营水平的一条途径。

Fong’s Industries
　　立信工业

Fong’s Industries Co. Ltd. was established in Hong Kong by Mr. Fong Sou Lam in 1963. Listed on the Hong Kong Stock Exchange since 1990, Fong’s Industries Co. Ltd. is one of the world’s leaders in design, manufacturing and sales of dyeing and finishing machinery; altogether with its other major subsidiaries engaging in stainless steel trading and the manufacturing of stainless steel casting products.
　　立信工业集团由方寿林先生于1963年创办。自1990年在香港交易所上市以来，立信工业在设计、制造和销售染整机械设备方面成为全球市场领导者；立信工业同时又与其旗下其他核心企业经营不锈钢材贸易及不锈钢铸件生产业务。

Fong’s Industries has supplied some 28,000 lines of high quality dyeing and finishing machinery to its global customers, including numerous high-end customers. Fong’s promoted China and to a further extend to the global economic areas in the textile dyeing and finishing industry, resulting in a constant development and upgrading generation. The history of Fong’s Industries’ growth is the reflection of China’s textile dyeing and finishing industry in the past 50 years.
　　立信工业为全球客户提供了约 2.8万套优质的染整装备，覆盖众多染整业高端客户，促进了中国乃至全球更大经济区域范围内的纺织染整工业的不断发展和升级换代。可以说，立信工业的发展壮大历史，就是中国纺织染整工业半个世纪成长史的缩影。

The Fong’s Industries Group proactively established its customer network by providing one-stop services with a comprehensive range and brands of textile dyeing and finishing machinery. Since 1998, Fong’s Industries expanded its business mode through strategic cooperation and acquisition. It currently runs five brands including FONG’S, THEN, GOLLER, XORELLA and MONFORTS FONGS, all leading labels in the global textile industry.
　　立信工业集团通过提供广泛的品牌纺织染整机械装备的一站式服务，积极地建立了自己的客户网络。自1998年以来，立信工业通过战略合作和并购扩大自己的经营模式。目前经营着立信（FONG’S）、特恩（THEN）、高乐（Goller）、纱力拉（Xorella）和门富士（Monfort Fong’s）五大品牌，所有这些品牌都是全球纺织工业的知名品牌。

Mr. Zhang Jie, the Chairman of China Hi-Tech Group said that “Fong’s Industries has been successful and has set an example for CTMC. For many years, Fong’s Industries has taken independent research & development as the leader in terms of sources. It has successively taken joint ventures, merging and acquisitions of European brands, technologies and R&D teams. Fong’s Industries realized international recognition with advanced technologies, domestic manufacturing and global sales. Through this merging, we will change the team of CTMC by using this kind of advanced model of Fong’s Industries.”
　　中国恒天集团董事长张杰先生曾说过“立信工业是一个成功的例子，给中纺机树立了一个榜样。立信是从源头上以自主研发为先导，陆续采取合资，合并甚至收购欧洲的品牌、技术与研发团队，在这样的基础上最终实现了国际技术、国内生产、全球销售。通过本次收购，我们将利用立信这种先进模式改造中纺机团队。”

Furthermore, the tighter environmental regulations and the consciousness of people around the world call for technical upgrade to environmentally-friendly dyeing and finishing equipment with low power, water consumption and less waste water emission. A few years ago, Fong’s Industries established its own waste water recycling unit, Fong’s Water Technology (FWT), which provides complete water re-use solutions to dyeing factories.
　　而且，目前环境规制越来越严格，全世界的人都一致要求进行技术更新，以及水电耗量低和废水排放较少的环保染整设备。数年前，立信工业建立了自己的废水回收机构－立信水务（FWT），向印染厂提供全套中水回用解决方案。

High level of mutual understanding
　　高度相互理解

The Fong’s Industries label “Customer is the Engine for Growth”, and the China Hi-Tech Group label “For the Customer Creation of Profit and Value” are common pursues. Mr. Zhang Jie also said that “both China Hi-Tech and Fong’s Industries compromise with high enterprise cultural aspects. “Good Faith, Sunlight, Simple” in that order are the management concept and standards of behaviour of Fong’s Industries, which has manifested on China Hi-Tech Group’s enterprise culture concept “The Achievement, the Rule and , the Good Faith” as well as “for the people, for the life.”
　　立信工业的“客户为本”与恒天集团的“为客户创造利润和价值”是双方的共同追求。张杰先生还提到“中国恒天集团和立信工业在企业文化方面有着高度的契合。立信工业的管理理念和日常行为准则“诚信、阳光、简单”，体现了中国恒天集团的企业文化理念“业绩、规则、诚信”以及“惠悦于民、恒达天下”。

Going global
　　全球发展

China Hi-Tech Group with its financial platform will build a monetary background for textile machinery, which will provide more comprehensive services to users, such as leasing business. It will further improve competitiveness of product marketing of Fong’s Industries in capital support. In terms of staff, Fong’s Industries’ sales, R&D and manufacturing management teams will remain unchanged. It will maintain existing mechanism, holding the original core teams in order to continue and properly use in the international markets their excellent talents and technologies.
　　中国恒天集团现在有了自己的金融平台，还将为纺织机械打造金融平台，日后能为用户提供更多的综合服务，譬如租赁业务等。恒天还将在资本支持上进一步提高立信产品的营销竞争力。在人员方面，立信工业的销售团队、研发团队、生产管理团队都将保持现状。立信将维持现有机制，保持原有的核心团队，从而继续并妥善利用国际上的优秀人才和技术。

Fong’s Industries pays great attention in the technical innovation and adhere to its concept of “Technology is the Fundamental”. For many years, Fong’s Industries is working in close cooperation with the Hong Kong University, the Hong Kong University of Science and Technology in carrying on research and development cooperation, the promotion of energy conservation for dyeing and finishing machinery as well as fuel and waste water reduction. These are the three main strategy development goals of Fong’s Industries, particularly in the vigorously establishment of Fong’s Water Technology in the water recycling and water reuse system. This goes in line with China Hi-Tech Group, who pays great attention too on scientific innovation, fulfilment of scientific development concept and fulfilment of community responsibility aspiration.
　　立信工业秉承“科技为用”的理念，注重技术创新。多年来一直与香港大学、香港科技大学进行密切的研发合作，不断促进染整装备向节能、降耗和减排三大战略目标发展，尤其是大力拓展立信水务的水回收和中水回用系统，更是与中国恒天集团注重科技创新、践行科学发展观，履行社会责任的抱负相得益彰。

One thing is obvious: The combined power of financial resources and experienced manpower will give a further push to become an even more established global supplier of premium textile machinery, and this not only for local markets.
　　显然，整合财力资源和专业人力资源将进一步推动不仅成为本地市场上，而且成为全球市场上顶尖的优质纺织机械供应商。

Further development
 　　进一步发展

The future development of Fong’s Industries is to focus on the vision of global resources conformity, improvement of competitive advantage in dyeing and finishing machinery, stainless steel casting and related business. Furthermore taking a development path with both connotation and extension types to be developed simultaneously; such as
　　立信工业的未来发展，要进一步从全球视野整合资源，提升染整设备、不锈铸造等相关业务的竞争优势，走内涵式与外延式并举的发展道路：

－  To stay on the present advanced management and operation system
　　－  坚持目前先进的管理体制和运营机制
　　 To continuously deepen the management transformation process
 　　不断深化管理变革
　　 To optimize organizational structures
　　 优化组织结构
　　 To improve the management effectiveness
　　 提高管理效率
 　　To launch staff incentive plans
　　 启动员工激励计划
　　 To provide human resources development as being the most precious wealth.
　　 树立人力资源是立信工业发展最宝贵资源的理念

At the same time, to pay great attention to the two new assets of the group, namely the capital operation function and the scientific innovation. In addition, to drive Fong’s Industries to grow faster and constantly promote the ability for independent innovation and to generate profit in its principal business.
　　同时，注重运用资本运作和科技创新两个轮子，推动立信工业快速成长、不断提升自主创新能力和主业盈利能力。

Positive future
　　美好的未来

Thanks to Mr. Fong Sou Lam bright view of the future, the founder of Fong’s Industries has made Fong’s Industries to go together with China Hi-Tech as one entity to be very favourable for the Chinese and the global textile industry and to secure Mr. Fong’s legacy.
　　诚挚感谢立信工业创始人方寿林先生，以未来不断发展之大义，愿意立信工业与中国恒天集团走在一起，成为一家，在保护方先生遗产的同时，也是中国及全球纺织工业之幸事。

China Hi-Tech Group agreed to the merger with Fong’s Industries for obvious reasons: it is the best and also the largest company in the world in dyeing and finishing machinery manufacturing. Through the strategic acquisition, it not only highlights Fong’s Industries as the most important global platform for CHTC to strengthen its businesses in the cotton and man-made fibres, dyeing, printing and finishing machinery manufacturing sectors, but also to become a stronger major player for premium and competitive textile machinery.
　　中国恒天集团同意并购立信工业，原因很明显：立信在染整机械制造方面是全球最好也是最大的。通过战略并购，不仅将其打造成为中国恒天集团在棉纺织和化纤以及印染整机械制造业务上全球最重要的平台，而且还将以其富有竞争力的优质纺织机械成为更强的顶尖公司。

It also fulfils the responsibility of China Hi-Tech Group to further promote the Chinese textile industry, with its final goal, through the global dyeing and finishing mechanical domain leading technology, the high quality brand resources reorganization, to strengthen the country’s textile industry upstream, the high added value products, the high profit domain overall strength and to promote the textile industry industrial upgrading.
　　战略并购还将有助于中国恒天完成其进一步振兴民族纺织工业之重任，其最终目的是通过与全球染整机械领域领先技术和优质品牌的资源重组，强化我国在纺织工业上游、高附加值产品、高利润领域的整体实力，促进我国纺织工业的产业升级。
 

 整理发布：中国纺机网TTMN.COM　孙红云