| |
According to the current stern global economical trend, Commings lowers the whole year to sell and the income correspondingly anticipated
On April 30, 2009 - the global economic recession initiates the market demand to drop, causes the Commings company in 2009 the first quarter sales volume and the profit appears glides down.First quarter Commings realizes sales volume 2,440,000,000 US dollars, compares in 2008 to reduce 30% same time.In front of the rest tax income 28,000,000 US dollars, the returns ratio for the sales volume 1.1%, compares in 2008 the first quarter to fall 91%.Net profit 7,000,000 US dollars, compared last year to reduce 96%.
In 2009 the first quarter net profit data deducted because the current season reduces staff 66,000,000 US dollar related expense which produces.Because the global economic recession causes the business volume to glide down, Commings can not but reduce 4100 official staffs and the contract worker in the current season.If does not deduct this reorganization kgovtk expense, then the Commings current season net income is 51,000,000 US dollars, in front of the rest tax income 94,000,000 US dollars, account for the sales volume 3.9%.
Forecast based on the first quarter market conditions and to the whole year economic situation that, Commings lowers correspondingly in 2009 whole year in front of the sales volume and the rest tax the income anticipated.According to the new forecast, in 2009 the Commings sales volume will compare in 2008 to fall 30%, in front of the rest tax the returns ratio will be 5% (not expense which will produce including reorganization kgovtk).
Commings Chairman concurrently chief executive officer Su Zhiqiang (Tim Solso) indicated that,“The first quarter situation will be extremely stern, moreover the present does not have the sign to demonstrate the economy will return to warmer weather in 2009.Because this crisis has swept across global each market, we are taking the action to reduce the cost largely and to enhance the efficiency, helps the company to maintain the reasonable profit level in 2009.Simultaneously guaranteed the sufficient cash class continues to invest the key product and the technical development, will finish the preparation for the future development.”
The company has obtained the remarkable result in the reduction expenditure, and further optimizes the capital outlay, concentrates the strength investment essential project, your kind effort support concerns the new product platform as well as the development which the future will develop satisfies in 2010 to discharge the standard the related product.
Although the external economy environment adverse effect, the Commings company's fundamental plane extremely is been still solid - the ratio of debt to net worth to be very low, the floating capital is sufficient.Although the economic situation has the challenging extremely, but Commings does not need to use 1,100,000,000 US dollar circulation credit specified amount.Up to the end of the first quarter, Commings has 353,000,000 US dollars cashes and the cash equivalents, the floating capital total amount amounts to 1,800,000,000 US dollars.
The Chinese market was still the Commings service development key point.Although has the economic crisis external agency, Commings always persisted does not vacillate in the China developmental strategy.In 2009 Commings's certain key projects are deferring to decide the timetable as scheduled to advance:
Fukuda Commings ISF3.8 makes it the motive project to start to limit the quantity the production.Unfolds in April 20 Shanghai vehicle, provides ISF3.8L engine Fukuda European Mark C Gao Duanqing the card to mount the stage officially declaring a position.ISF2.8 makes it the motive development match work also in the methodical development
The Commings Wuhan Unit Factory project will soon be completed the production, the Commings electric power has the new promotion in the Chinese localization productivity
- East wind Commings the ISD/ISL Europe four product developments makes the good progress, the new product hopeful further promotes in the fuel oil efficiency the performance
- Chongqing Commings the QSK19/QSK38 entire electrically controlled high powered diesel engine platform imported project progress are smooth
Commings in China
Commings and China's historical origin might trace to more than half centuries before 1940 ages.On March 11, 1941, American President Ferlan Kelin•Roosevelt signs "Lease-lend act", to includes China's 38 countries to provide the wartime aid."Lease-lend act" includes to the Chinese military aid commodity in provides the Commings engine the river to guard against the patrol boat and the military truck.
1944 year's end, Chongqing Enterprise sent a letter the Commings company, sought the establishment commercial relation, carried on the Commings engine in China the localization to produce, when let Commings engine company General Manager Elvin•Mill in wrote in reply expressed regarding this the strong interest, after hoped the Chinese and Japanese war ended Commings to be able in Huajian Factory.As a result of the well known reason, Mr. Mill's idea only could wait till 30 year after 1970 ages, followed the Chinese and American relations to relax gradually, became the reality only then hopefully.
Commings invests 240,000,000 US dollars in China, took the Chinese diesel engine profession biggest foreign merchant investor, Commings and China's commercial relation began in 1975, when let Commings Chairman Elvin•Mr. Mill visits Beijing for the first time, becomes comes China to seek one of most early commercial cooperation American entrepreneurs.In 1979 China and America established diplomatic relations, the China's openning up policy beginning, the first Commings stationed in China office on established in Beijing.
Commings was most as early as carries on one of western diesel engine companies in China which the engine localization produced, in 1981 Commings starts in the Chongqing Engine plant permit production engine, in 1995 Commings first China Joint capital Engine Factory was tenable.So far, Commings amounts to in China is equipped with 26 organizations, including 15 sole ownership and the joint venture, staff more than 7,000, produces products and so on engine, power set, alternator, filtration system, turbocharging system, exchaust gas system, post-processing and fuel oil system, has by 12 region service center and more than 300 the service network which is authorized the dealer to be composed.
The Commings long-term insistence and Chinese Major industry form the strategic alliance, the realization communal development.As comes China to carry on the foreign capital diesel engine enterprise most early which the localization produces, more than 20 for year Commings already with including the east wind automobile, the Shaanxi steam group and north steam Fukuda's Chinese Commercial Vehicle Leading Enterprise set up four engine joint capital factory, in the Commings 17 engine series had ten locally to produce in China.
The Commings long-term insistence and Chinese Major industry form the strategic alliance, the realization communal development.As comes China to carry on the foreign capital diesel engine enterprise most early which the localization produces, more than 20 for year Commings already with including the east wind automobile, the Shaanxi steam group and north steam Fukuda's Chinese Commercial Vehicle Leading Enterprise set up four engine joint capital factory, in the Commings 17 engine series had ten locally to produce in China.
In 2008 Commings in Chinese sales volume exceed 2,300,000,000 US dollars, 07 years grew 33%, the Chinese area already becomes the Commings whole world scale to be biggest, to grow the quickest overseas market.
About Commings
The Commings company had been established in 1919, the headquarters is located in the American Indiana state Columbus city, is in enterprise' ranking which the American wealth 500 strong enterprises and the wealth in 2008 the `whole world most receives respects only diesel engine company.
Commings is the global biggest independent engine manufacturer, the product line including the diesel oil and the alternate fuel engine, the engine essential subsystem (fuel oil system, control system, air admission processing, filtration system and exhaust processing system) as well as the generating system.Commings provides the service through it in the global 190 countries and the local more than 500 retailing organizations and 5200 dealer mesh points to the customer.
Commings in 2008 the sales volume is 14,340,000,000 US dollars, compares for 07 years to grow 10%; Outside US the international market proportion further enlarges, the share 54% rises from 07 years to 08 years 59%, net income 755,000,000 US dollars, compare for 07 years to climb 2%.
|
|
