A few days ago the Polish media reported on the acquisition of Huta Stalowa Wola the Polish construction equipment manufacturer made by Guangxi Liugong the Chinese company. It was originally scheduled that the signing ceremony would be held on June 29 in Warsaw Marriott Hotel, I have done a number of related arrangement, but then I was informed that the case had been delayed.
The cause of this is related to the large number of negative reports about COVEC in Poland. The board of HSW expects Guangxi Liugong to guarantee a 5-year working contract with the staff plus 5% raise of salary, but Liugong only promised a 3-year working contract with 3% raise of salary. And now they are facing a deadlock. Some media analyzed that probably the Chinese company should set up their own company and the costs might be lower. Currently the project is facing the possibility of collapse.
Regarding to this case, Wang Zhuguang, secretary of the CEO of Liugong commented in his interview with “First Financial Daily” that the acquisition did not stop and the negotiation was still going on. He said that the case with COVEC didn’t affect the acquisition; the only affect from COVEC was the speculation from the media. As same details are still under negotiation thus the agreement has not been signed.
According to the comments to this post among Chinese net citizens, most of they are keen on the idea that Chinese company should set up their own company and build up their own company culture.
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Autor: Ma Keyong (Ma Bin) jest studentem drugiego roku psychologii UW, mieszka w Warszawie.