This year is the 16th year for unified lubricants, and it is also the third year that Shell has acquired it. In the plant office in Lucheng Development Zone, Daxing, Beijing, Li Jia, general manager of Shell Uniform (Beijing) Petrochemicals Co., Ltd., can clearly recall the situation where he took a back-up renminbi to the bank to verify capital 16 years ago. I remember that the moment when Shell and Unity finalized the acquisition price in the early morning of September 22, 2006. Today, more than two years have passed, Li Jia confidently told the author: "This is a very harmonious and very successful marriage."
Joint venture with Shell to address development bottlenecks
In 1994, the sales volume of unified lubricants was 6 million yuan. By 2005, this figure had reached nearly 3 billion yuan. Ten years of gold growth made the unified lubricants stand out from the more than 4,000 lubricant companies in Beijing at the time and they were in Sinopec. Under the powerful offensive and squeeze of CNPC and many multinational brands, it established its own national brand. To the dismay of many people, why did the Chinese local company, which had a perfect production and sales system and was growing at a high speed, choose to be acquired by Shell at the time?
Zooming in, this is the first step in unifying the lubricating oil internationalization strategy. Starting from reality, it is different from the Great Wall and Kunlun lubricants backed by Sinopec and CNPC. At that time, 80% of the unified raw material base oil was imported, and Shell was Unifying the main suppliers, because there is no long-term contract with Shell, when the supply of the base oil market is tight, the unity will have to choose to buy at a high price. Such an unstable supply environment makes it unsafe to unite in the fierce competition of internal and external attacks. .
At the same time, in 2000 the unified lubricants began a new round of capacity expansion, and invested in the construction of the first lubricants blending plant in Asia with a monomer capacity of 300,000 tons. In the long-term plan for corporate development, the issue of base oil supply channels Nature has become a bottleneck to be solved.
The joint venture with Shell has solved this problem fundamentally. “Now, our base oil purchases have been incorporated into Shell's global procurement system. Shell plans quarterly and annual plans for us to reserve base oil one month ahead of schedule. This way, we don’t have to look for it ourselves. First, base oils are guaranteed, OEM It's also easier. Former customers were worried about the stability of supply. Now that this doubt has been dispelled, and the efficiency of solving the problem has improved. Problems that they couldn't solve before can now ask our brother, Shell.
Two years of marriage to achieve a harmonious and win-win
On September 22, 2006, Shell China Holdings Pte. Ltd. announced that it has acquired 75% of the shares of Uniform (Beijing) Petrochemical Co., Ltd. and United (Xianyang) Petrochemical Co., Ltd., making Shell the No. 1 international company in China's lubricants market. Energy company. At the same time, Li Jia’s identity also changed from the general manager of a private enterprise to the general manager of a joint venture company.
"What did we do after the joint venture?" This is what many people want to ask about Li Jia. Because from the point of view of the market, Uniform Lubricants has retained its own independent dealer network of the first level. Uniform and Shell are not included in each other's sales channels. From the perspective of the internal structure of the company, they have retained their own management and sales teams, while continuing. Innovative and sensitive corporate culture. Then, where did the joint venture change?
“On the product level, we have carried out a series of forward-looking research and development based on the changes in automobiles and engines under the technical support of Shell. We have created a number of new products, such as Euro 3, Euro 4, Euro 5 engine oil, and diesel. Special engine oil for cars, engine oil for CNG fuel, engine oil for alcohol fuel, engine oil for long oil change period (5-15 million kilometers for oil change), engine oil for fuel saving, full life gear oil, etc.," said Li Jia. These products not only prove our R&D capabilities, but also our best embodiment of strengthening market segmentation and customer-only requirements."
At the enterprise level, the two-year joint venture also allows a unified source to continuously absorb the nutrients operated by international companies from the Shell family, laying a foundation for more specialized and larger business scale development in the future. “In the past two years, I have deeply felt Shell's advanced corporate management processes, and constantly digested and absorbed Shell's complete risk control system and business decision-making system to form our core in the future lubricant market. In this process, we have neither completely adopted the Shell model nor extended the unified original model, but have found a model that adapts to the unification of the current development model.†Li Jia said that there have been many cases of Chinese and foreign corporate mergers and acquisitions. However, like Shell and Unity, since the beginning of the acquisition negotiations, it has been rare to see the development of win-win development.
The year of crisis has grown by 17%
Not long ago, world-renowned major lubricant manufacturers, including Shell, invariably stated to their customers that they would lower product prices in the next few weeks, and at the same time adjust production to varying degrees, and as early as January 1 this year, Being the first domestic lubricants company to lower product prices, the demand for the entire year of the crisis has declined, making domestic and foreign companies less optimistic about the market prospects for this year.
However, in the year of this crisis, the goal set by the unity for oneself is to increase by 17%. “First of all, I believe that the country’s 4 trillion investment will affect the crisis, and I believe the crisis will certainly pass. Moreover, the new growth point of the company is often cultivated during the crisis.†Li Jia said that the current unified market share is 5 %, “In other words, 95% of the market is not mine, then the reduction in total demand has a very limited impact on my percentage. In the two years after the joint venture, the unified investment in fixed assets is several times. In the past, including our recent new project with a value of nearly 100 million yuan, at the stage of government approval, we have made the fundamentals of the entire enterprise and product very solid by various means. The crisis is precisely our opportunity. !â€
Judging from the current market share, Uniform Lubricants ranks first in China’s Coke Oil Lubricants and Motorcycle Lubricant Rankings, and ranks fourth in the domestic lubricating oil rankings. Li Jia said frankly: “Continuing While pursuing the market of second and third tier markets, diesel engine oil and motorcycle lubricating oil, the development of lubricating oil for passenger cars is the most important development route at present. Beishangguang is also our key market, and we must focus on the development of high-end car lubricants. Now In the car industry, the price of car prices and lubricants has no absolute hierarchy. The standard for many high-end car oils and ordinary household car oils is exactly the same, so our goal is to do the public Rather than the Mercedes-Benz BMW in the lube industry!"
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