www.Gasgoo.com, May 21, 2009
An exclusive interview with Bill Russo, Senior Advisor to Booz & Company, Founder and President of Synergistics Limited
By Michelle Fan
Gasgoo.com: Now the auto parts suppliers in European and North American auto markets are experiencing a bankruptcy boom, with the financial crisis pushing more suppliers onto that road. Do you think it a good time for Chinese companies to acquire some of the businesses?
Bill Russo: The time we are in right now is pretty historic in terms of the development of the automotive industry. No one expected the global financial crisis could hit the industry as hard as it has. It’s creating economic problems for many companies, but it also presents opportunities for restructuring the industry.
Clearly there is a need, on the part of the European and North American OEMs and suppliers, to find additional sources of funding in order to keep their operations going, while the rapid growth of China auto market in recent years has provided Chinese companies more capacity to invest. However, there are real challenges in finding suitable partners. Partners in the west are not necessarily going to be compatible, for a lot of reasons, both from a technological and from a cultural standpoint.
Click below to read:
full interview in English at Gasgoo.com
Special report on bankruptcy boom of suppliers (中文）