本案例由江南大学商学院的刘进教授团队撰写，江南大学商学院案例中心研究员汤振容全文改编，江南大学商学院案例中心研究员陈田田为责任编辑，作者拥有著作权中的署名权、修改权、改编权。

摘要：美国CA公司长期专注产品防护领域，已发展成为该领域全球领导企业。中国加入WTO后，巨大的市场潜力吸引着全球的资金，CA公司也渴望在这席卷全球的“中国热”中分得一杯羹。该案例以CA公司进入中国市场13年沉浮经历为背景，重点描绘了其战略扩张历程，从成立独资贸易公司、并购重组设立合资生产企业、再设独资公司、展开后续并购、进行资源和业务重组及新生产基地建设等一系列曲折发展历程。该案例旨在引导思考企业如何选择扩张战略、如何进入新市场及如何进行重组整合，以期获得发展动力和持续竞争优势。

关键词：市场进入；市场扩张；并购重组；竞争优势

Caplugs Company: Strategic expansion in the Chinese market

Abstract: CA company has long focused on the field of product protection and has developed into a global leader in this field. After China's entry into the WTO, the huge market potential attracts global capital, and CA company is also eager to take part in the "China fever" sweeping the world. This case takes CA company's 13 years of ups and downs in the Chinese market as the background, focusing on describing its strategic expansion process, including a series of twists and turns including the establishment of a wholly owned trading company, the establishment of a joint venture production company through merger and reorganization, the establishment of a wholly owned company, the subsequent merger and acquisition, the restructuring of resources and business and the construction of a new production base. This case aims to guide enterprises to think about how to choose expansion strategy, how to enter new markets and how to restructure and integrate, so as to obtain development momentum and sustainable competitive advantage.

Keywords: Market entry; Market expansion; Merger and reorganization; Competitive Advantage