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Work Together, Win Together

2017-09-11 10:54:00 Print To share:
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On September 5, Ren Hongbin, the President of SINOMACH, went to Berkshire Blanket & Home Co., Ltd. (hereinafter referred to as “BBH”), a subsidiary of SUMEC Group Corporation (hereinafter referred to as “SUMEC Group”) in America, accompanied by Yang Yongqing, the Secretary of the Party Committee and Chairman of SUMEC Group, and Wang Shentao, the Secretary of the Party Committee and Deputy General Manager of SUMEC Textile & Light Industry Co., Ltd. (hereinafter referred to as “SUMEC Textile & Light Industry”), and Chairman of BBH.

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As a front-runner in American household textile market, BBH is celebrated for its excellent quality and exceptional service. SUMEC Textile & Light Industry purchased 100% of BBH shares in 2016, making BBH the first overseas enterprise held by SUMEC Group through industrial merger and acquisition. Products of BBH such as blanket, quilt, bed sets, leisure wear, etc. has won good reputation among mainstream channels and consumers of American household textile products for its strong ability in product R&D and design. After the acquisition was completed, a vertical and integrated industrial chain oriented towards market demand and with high flexibility is formed from the perfect combination of technological R&D and industrial manufacturing of SUMEC and brand and channel of BBH, which effectively promotes the company’s operation. BBH sale is expected to increase by over 20% in 2017, with the projected target realized.

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During the investigation, the President Ren Hongbin listened to introduction made by the Chairman Wang Shentao and other directors of BBH on the development history, product positioning, R&D innovation, channel building, market shares, business condition and development prospect of BBH.

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Then, Yang Yongqing, the Chairman of SUMEC Group, briefed the President Ren Hongbin on M&A of BBH. He said in the report that: the initial success won from SUMEC’s acquisition of BBH as its wholly-owned subsidiary, is attributed to the advantaged platform of SINOMACH, firm support of the management of BBH, overall collaboration of the two companies and explicit performance orientation; in future, BBH will continuously enhance the competitiveness of industrial chain, expand the main channel market and create overseas large platform so as to meet needs of operation for more categories and larger scale; BBH aims at becoming a resolute explorer of international expansion of SUMEC, a determined practitioner of re-building a new SINOMACH overseas, and a benchmarking enterprise of full industry chain with Chinese-brand household textile products well-known in American market and sales at the top. 

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After conducting the field investigation and listening to the report on BBH, the President Ren Hongbin firstly thanked the management team and all staff of BBH for their hard work on behalf of SINOMACH. He said that over the past year after M&A has been completed, BBH staff has achieved desirable results as they are full of spirit and energy with high morale, which is also inseparable from multinational management and collaboration of management teams.

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Next, the President Ren Hongbin shared the connotation of “Five Ideas of SINOMACH”, namely, “Value-based SINOMACH, Innovative SINOMACH, Green SINOMACH, Responsible SINOMACH, and Happy SINOMACH” with the management team of BBH. Value-based SINOMACH means that we are expected to unceasingly promote the value creativity. Competitiveness and quality development rely on better and stronger progress; Innovative SINOMACH means that we shall lead the future development through sustainable innovation. The development history of BBH is a portrayal of innovation; Green SINOMACH requires us to put idea and thought of green throughout the operation and management. Apart from green products, such philosophy also includes eco-service, and a sustainable operation pattern with resource-saving and environmentally friendly features; Responsible SINOMACH requires us to be responsible for staff, customers, partners and the society by building a brand of social responsibility; the most important and also the most core idea, i.e. Happy SINOMACH, represents the foothold and destination of the aforesaid four ideas of SINOMACH. We aim at enabling sense of gain and family happiness for staff, strive to ensure happiness for the stakeholders, and work hard to build a good image of enterprise citizen.

The President Ren Hongbin expected the management team of BBH to take a broad view to the reform tendency of global industry development, spare no efforts to build a supply chain system and management system of high flexibility through forward-looking strategic vision and definite strategic target and continuously work out a new round of competitive advantages of BBH.
In the end, the President Ren Hongbin encouraged the management team of BBH and SUMEC team to make joint efforts for win-win results through innovation by quoting “Work Together, Win Together”.

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