Mining machinery manufacturing industry has played a leading role in the machinery and equipment manufacturing industry in China. After years of development, the mining machinery industry in China has formed huge industrial scale. The mining machinery and equipment (cone crushers, dryer machine, ball machine etc.) not only plays an important role in the domestic infrastructure construction and mine construction, but also takes share in the international market. But for a long time, the mining machinery manufacturing industry has left the impression of low-cost, low-quality, low-tech in the international market. As the international mining machinery giants have shifted the industry to Asia, Latin America and other regions, they have possessed the cost advantages of abundant labor resources and low wages, which reduces the original price competitiveness of the mining machinery industry in China. And domestic mining machinery enterprises have begun to seek a way to improve core competitiveness.
The mining machinery industry explores technological innovation the way that is suitable for themselves at the extreme constantly in the long-term course of development. In the past, our mining machinery industry largely imitate the foreign advanced products and as for the same products, we just make a slight change in the shape and structure, but the internal parts are imported from abroad and the technology is also introduced from abroad. It is a shortcut to launch new products for the mining machinery industry, but not a shortcut to master new technology. We just take advantage of the foreign parts and technology and the domestic mining machinery enterprises just play the assembly role. Another way is to buy out the foreign advanced technology with high price. However, in this way, we just bought over someone else's technology. But the technology is constantly innovative and the core technology still lies in the hands of others. We just bought the property rights of a technological achievements and how to digest the technologies to improve ourselves is the fundamental problem.
Currently, due to the impact of the European debt crisis, many foreign mining machinery enterprises are in the plight of capital turnover, which provides a golden opportunity to conduct mergers and acquisitions of foreign enterprises. Many domestic mining machinery enterprises also regard it as a way to improve the core technology. The successful merger will naturally bring good opportunities for the development of the enterprise, but what is more important is the complete digestion and absorption of the technologies. The real master of the advanced technology is the fundamental way to improve the core competitiveness of the mining machinery industry.