The registered trademark name, Monel, is applied as the prefix name to several corrosion resistant alloys produced by Special Metals Corporation. These alloys are nickel-based and exhibit traits that include high resistance to atmospheric corrosion, salt water, and various acid and alkaline solutions.
Alloys of identical chemical and mechanical properties are available from other manufacturers and offer excellent alternatives to the various Monel® brand alloys.
The corrosion-resistant alloy is widely used in the marine, oil and chemical processing industries.
Monel Availability
Mega Mex supplies Monel 400, K-500 & R-405. Most of these grades are available in the form of plate, sheet, pipe, tubing, fittings, bar, wire and rod.
What are the Characteristics of Monel ?
Good resistance to acids such as hydrofluoric and sulfuric acid
In what Applications are Monel alloys used ?
Pump shafts, oil-well tools, instruments, doctor blades and scrapers, springs, valve trim, fasteners, marine propeller shafts
Monel Trivia
Monel was discovered by Robert Crooks Stanley who worked for the International Nickel Company in 1901. The new alloy was named in honor of the president of the company, Ambrose Monell.
*Monel® is a registered trademark of Special Metals Corporation group of Companies.
Monel Flange,Monel 400 Flange,Monel Steel Flange YUHONG GROUP CO.,LIMITED , https://www.alloypipeline.com
The outcome of the game is not as expected by Dong Mingzhu, but may bring greater uncertainty to Gree. And the "victory of the people" staged by the small and medium shareholders has really won? I don't think so.
If you miss the acquisition of Yinlong, Gree will probably miss an era.
This is what Dong Mingzhu thought of, but those shareholders who voted against it may not have thought of it. And Dong Mingzhu, who has always been advertised as "never make mistakes", may be affected by this inconspicuous tactical error, which may affect Gree's strategy in the future.
Because, Zhuhai Yinlong is the position that Gree must win.
Specialization and pluralism
This should start with Gree's specialization and diversification. As we all know, Gree has been pursuing a professional strategy for many years, and Dong Mingzhu has repeatedly emphasized it on different occasions. According to the data obtained by the author during his two trips to Gree, Gree had more than 5,000 technology R&D personnel, two national technology research centers, one provincial key enterprise laboratory, three research institutes and 26 research institutes. And more than 300 laboratories, with nearly 6,000 domestic and foreign patents, including more than 1,300 invention patents, only applied for more than 1,480 patents in 2011, an average of four patents per day. It should be said that in the aspect of research and development, Gree has achieved the ultimate.
Based on this accumulation, Gree Electric Appliances has formed a three-pronged pattern with Haier and Midea's home appliance industry. In terms of air-conditioning products alone, Gree's share in the Chinese market exceeded 40% in 2015, its share in the global market was 23.1%, global shipments exceeded 170 million units, leading the second place by nearly 6 percentage points, sales data and market share. The rate is amazing.
In such a market structure, if Gree wants to increase market share again, the marginal cost will rise sharply, and diversification will become a matter of course. Therefore, it can be found that Gree has quietly entered other areas of the home appliance industry in the past few years, such as refrigerators and small appliances, and even foundry mobile phones, which makes Gree's traditional offline channels fully utilized.
Gree's channel has made a great contribution to the formation of the Gree air-conditioning empire, and made Gree an exclusive challenge to the nearly monopoly of home appliance sales giants Suning and Gome. On the other hand, the sales of a single air-conditioning product also limits the source of profit for the channel compared to the high cost of self-built channels. Therefore, Gree's limited attempts in the field of home appliances, to a certain extent, can be considered as the exploitation and utilization of excess resources of the channel.
But this is not enough to form a channel's loyalty to Gree. The model envisioned by Dong Mingzhu is the bundle of interests. In 2006, several heavyweight dealers of Gree Electric jointly established River Beijing Haicheng Guarantee Investment Co., Ltd., and at the time approved by Zhuhai State-owned Assets Supervision and Administration Commission, it received a 10% stake in Gree Electric Appliances. This model allows Gree's channels to motivate the channel without taking up too much of its own funds – in part, it is equivalent to achieving another force on Gree's channel.
Among the top ten shareholders of Gree Electric Appliances announced last week, River Beijing ranked second, with a shareholding ratio of 8.91%. The company has been in existence for ten years since its inception in 2006. A reduction in 2012 has caused a lot of trouble, which is another topic.
By Gree's channel benefit bundling model, it is not difficult to understand that the proposed acquisition of Zhuhai Yinlong will be an additional issuance rather than a cash acquisition. Dong Mingzhu hopes that Yinlong's shareholders and Gree will form a deep-bundled community of interests, just as it was earlier. The same pattern as the dealer's deep bundling. This is the style of Dong Mingzhu. She is used to the bundle of interests. She wants loyalty and the loyalty of the downstream dealers to her. Loyalty is the first, Dong Mingzhu said in an interview with Chen Luyu not long ago.
Of course, another reason is that although the cost of additional fundraising acquisitions is higher than cash acquisitions, it can ensure that there is sufficient cash to cope with the possible cash requirements in the acquisition integration process and future additional investments. The same is true for the purpose of private placement.
Gree's mobile future
Another topic is that Gree acquired Zhuhai Yinlong. Is it the same concept that Chunlan and Skyworth entered the automotive industry? Obviously not. Gree’s acquisition of Yinlong’s expectations for automotive air conditioning and strategic considerations in the new energy sector may be far greater than for the new energy vehicle itself. If Gree has strategic considerations for mobile, then this consideration must not be in the mobile phone, but in the car, especially the car air conditioner.
For new energy vehicles, the energy requirements of air conditioning systems are second only to the drive system. Imagine if you dare not turn on air conditioning in the big summer in the south or in the big winter in the north. What would it be like? But this situation is very real in the field of pure electric vehicles. It is not difficult to understand that the mobile strategy of the air-conditioning industry is in the automotive industry, not the mobile phone - of course, the mobile phone will be a control terminal.
Looking at Zhuhai Yinlong's website, we can find that the electric air conditioner series listed under the electric motor control project is one of its main products. The electronic control of the motor is the advantage of Gree. Taking Gree's compressor technology as an example, through years of cooperation with Daikin of Japan, the technology has been basically absorbed and absorbed. How to transfer this capability to the third space in the future except for homes and office spaces, that is, car air conditioners It is exactly what Gree has to consider. This market space is big and unimaginable.
Compared with energy consumption, it is new energy. Gree has introduced photovoltaic air conditioners in the past few years. It has already had this layout. Yinlong's lithium titanate battery technology and energy storage technology can be integrated and supplemented. Coupled with the geographical advantage of Zhuhai, this makes Yinlong almost the acquisition target of Gree Natural.
Therefore, for Gree, Yinlong is inevitable, even at a double premium. As previously analyzed, the issuance rather than the cash acquisition is more conducive to post-acquisition integration and future benefit bundling. You will find that even Dong Mingzhu personally does not hesitate to pay real money and silver, to invest 930 million in cash.
The motion of private placement has also been interpreted by some public opinion as an obstacle set by Dong Mingzhu to prevent "barbarians." It should be said that this kind of consideration is there, and it is necessary to prevent it from happening. It is not a bad thing for the company to grow, mature and stabilize. Vanke is a guide to the past. A storm of "barbarians" invasion, major shareholders can take the opportunity to adjust the pattern, achieve a balance of interests in the game, speculative minority shareholders can also take a leave. However, this kind of shock is the most harmful to the company, and ultimately it is the long-term interests of shareholders.
It can be seen that Dong Mingzhu’s mistake was tactical. In an inappropriate way, he wanted to persuade and even force shareholders to accept her motion. After all, it is a fact that these proposals will lead to dilution of shareholders' rights and damage the interests of minority shareholders. Some comments accordingly consider this to be a violation of the principal-agent relationship contract.
Violated "psychological contract"
And Dong Mingzhu’s worry, from management, has a very interesting explanation. That is, in Dong Mingzhu’s view, it’s these “mindful†shareholders who use the “no applause†behavior to violate what she expected. "Psychological contract" - I have distributed dividends of 18 billion yuan to you in two years. According to the current laws and regulations, I can divide or divide, and I can divide them into more or less, but I have divided them. Therefore, my psychological contract is expected to respect my needs in the event of a conflict of interest in the future.
Organizational behavioralist Aguilis uses a "psychological contract" to explain the relationship between employers and employees (shareholders and management, is a principal-agent relationship, can also be considered an employment relationship), and believes that the relationship between the organization and employees In addition to the content of the formal contract, there are implicit and informal mutual expectations and understandings, which are also important factors in determining employee attitudes and behaviors. Another well-known management scholar, John Cotter, defines the psychological contract as “a hidden agreement between the individual and the organization. The agreement specifies what the other party expects from the other party and the content".
If the contractual contract reflects the transaction relationship, then the psychological contract is somewhat similar to the "community" in the Chinese context, or a trust relationship. Dong Mingzhu hopes to gain the trust and support of shareholders. For her strong, this is also called "loyalty."
This is a topic of management. The solution is to communicate in advance, and management communicates with shareholders in advance. When the other party clearly gives you a "no applause" signal indicating that you don't support your thoughts, what you need to do is not to force the other party to accept your thoughts, but to tell the other party why you accept your thoughts and accept your thoughts. What are the benefits. But Dong Mingzhu does not seem to do this. The end result is that they voted against it.
The psychological need for almost absolute control is a common psychological need of the founders of the enterprise. This is the case with Dong Mingzhu. This generation of entrepreneurs are racing against time and racing with the times. Dong Mingzhu, Zhang Ruimin, Ren Zhengfei, Zong Qinghou, and Liu Chuanzhi are not like this. Some of them have clear or unclear succession plans, but most of them retain absolute control over the enterprise. Even Wang Shi, who seemed to be at ease before, quickly shot at a critical time, showing absolute control over the company. Of course, his lack of control is a problem discussed earlier, and it may be a hole that Dong Mingzhu wants to block. .
Therefore, this generation of entrepreneurs can't use the theoretical framework of professional managers to apply analysis. Their role and mission, as well as pioneering spirit, are not available to professional managers.
In an era of rapid change, this generation of entrepreneurs wants to retain absolute control over the enterprise. To some extent, it is not a greed for power, but a deep concern about the future destiny of companies in a changing era. Because, in their lifetime, it is entirely possible to witness his big-handed enterprise and the business empire created by one hand, and there has been a drastic change in life and death. Zhang Ruimin is worried that Haier’s empire “great collapse†and Ren Zhengfei are worried every day that “the next fall will be Huaweiâ€, as well as Liu Chuanzhi, Lu Guanqiu and Cao Dewang.
A few years ago, a joke with Lei Jun bet, Dong Mingzhu was placed in the spotlight. New companies such as Xiaomi have sprung up, and Dong Mingzhu has begun to rethink the rules of the game in the new business era. In the past two years, while Dong Mingzhu continued to show his strong iron fist style, he also began to show his attitude of opening and embracing new things. For example, she opened the self-media and did not refuse to be labeled as “net red†entrepreneurs.
The era is no longer the old era, Gree is no longer the former Gree, Dong Mingzhu is no longer the former Dong Mingzhu.
Deng Yongbing|Wen Deng Yongbing is a postdoctoral researcher at the Institute of Economics of Tsinghua University and the Chinese Business Research Center of Tsinghua University. He is also a senior author of the Chinese version of Harvard Business Review.
MONEL®
Highly resistant to alkalis
Malleable
Highly corrosion resistant
Stronger than steel
Marine components
Chemical and hydrocarbon processing equipment
Valves, pumps, shafts, fittings, heat exchangers
In addition to the bun, what is Dong Mingzhu playing in the next game?
Abstract On October 28th, the play of the Gree Electric Appliances Shareholders' Meeting was not so much the unexpected emotion of Dong Mingzhu. It was better to say that Dong’s impromptu play was a persuasive drama. The outside world’s criticism of Gree’s acquisition of Yinlong has not been suspended since the beginning of the proposal. The double premium acquisition is...
The play of the Gree Electric Appliances Shareholders' Meeting on October 28 was not so much the unexpected emotional venting of Dong Mingzhu, but rather a persuasion play by Dong Yi improvisation. The outside world’s criticism of Gree’s acquisition of Yinlong has not been suspended since the beginning of the proposal. The double-price acquisition has attracted many questions, and Dong Mingzhu has not given a convincing explanation.