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Story About ThyssenKrupp-Tianrun Crankshaft Acquisition
September 6, Development and Reform Commission of Weihai city, Shandong province, for the first time, formally released detail of ThyssenKrupp-Tianrun Crankshaft Acquisition. As was informed that ThyssenKrupp is to acquire Tianrun's steel crankshaft business, the iron crankshaft business, Tianrun's core business, will still be controled by themself.
Recently, this acquisition and LYC-Schaeffler one were often talked about for their potential to threat national economic security or even national security. To deal with similar acquisitions, state authorities had published relevant provisions under which LYC-Schaeffler acquisition were greatly hindered, while ThyssenKrupp-Tianrun one was approved by local government.
However, outsiders had no access to the above mentioned information before. What they saw is another domestic strong enterprises being acquired by foreign enterprises. Various of gossips became heard everywhere, having a negative impact on the normal process of that acquisition. To help finish the acquisition, Weihai government released some details of the acquisition.
Tianrun Crankshaft Co.,Ltd is a joint venture, formed by Shandong Crankshaft Factory and Merrill Lynch Group, an American Investment company. In the joint venture, Merrill Lynch only invested by cash, having 40% of the company shares. In 2006, the last year of the joint venture, Merrill Lynch began to find ways to transfer their holding shares to cash. As Tianrun Crankshaft could not afford to purchase the 40% shares held by Merrill Lynch, Merrill Lynch had to find another buyer of the shares. ThyssenKrupp is the right one.
At that moment, ThyssenKrupp were seeking opportunities to enter Chinese crankshaft market, so Merrill Lynch reached consensus with them very soon. Then, ThyssenKrupp began to contact Tianrun Crankshaft for acquisition details.
During the course, various problems came out, such as state restraint for potential threat to economic security, gossips etc. Finally, this acquisition was approved by Shandong authorities on August 8, indicating it can be carried out according to the agreement both parties had signed.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| H241/710HG bearing | 710 | ||
| H32/710HG bearing | 710 |