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Lu Guanqiu: 100 percent return for "went abroad" strategy

Ally From Gasgoo.com| March 13 , 2007

It is reported that Wanxiang Group might purchase one part of assets from Delphi Corp and the auto component business under Ford. According to Wanxiang Chairman Lu Guanqiu, the "went abroad" strategy is helpful to build a better environment for the company and optimize allocation of resources. Lu said they had been in talks with Delphi Corp. about the purchase, but no significant result has emerged.

"We have purchased more than 18 enterprises overseas and we obtained almost 100 percent repayments for our investment. Firstly it's because of the exchange rate. Next is the technology, after buying the enterprise, the technical monopoly is in our favor, thus we have gained vast profits in these past years. Currently Wanxiang's purchases mainly concentrates on US and European markets, the product mainly sells to Russia", said Lu.

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