Central Enterprises and Shanxi Enterprises Enter into the "Marriage and Love Period"

Recently, a company reorganization information was quickly spread in the chemical industry: Nanfeng Chemical Group was transferred to China Salt Industry free of charge! Another central state-owned enterprise obtained a controlling stake in local state-owned enterprises through low-cost transfer of state-owned shares. A key state-owned company that plays a key role in the salt chemical industry has been included in the China National Salt Corporation. This has caused the salt industry and the chemical industry to pay close attention and shake up. Analysts concerned: The restructuring of Nanfeng Chemicals reflects the acceleration of mergers and acquisitions by central corporate resource companies. Gratuitous transfer is a reorganization of Chinese characteristics. The reason for this is the homogeneity of the company. This move undoubtedly set off the trend of central SOEs restructuring and acquiring state-owned chemical companies in Shanxi. It indicates that a new round of mergers and acquisitions and strong alliances will become a major trend in the concentration of China's chemical industry.
Looking at the information we have, the large-scale restructuring of the central enterprises in Shanxi Chemical Industry has become more and more intensifying. From May 2002, the Bluestar Group reorganized Taihua TDI, and in October 2007 China National Salt Corporation entered the Nanfeng Chemical Group. In just 5 years, China National Chemical Industry Group entered the Shanxi Synthetic Rubber Group, Shanxi. Yuanping Chemical Group, Double Happiness Tire Company, and Yucheng Foster Chemical Co., Ltd., Sinochem International and Tianji Group co-founded Tianjiu Sinochem Gaoping Chemical Co., Ltd. and other cases. For these restructured companies, at least six of them are provincial key chemical companies. After the reorganization, the central SOEs will use nearly 10 billion yuan in investment to leverage and control nearly 120 billion yuan in assets, and the capital effect will be increased by 12 times.
At present, some powerful chemical companies in Shanxi are still negotiating restructuring, and some have already achieved results. The state-owned enterprises of Shanxi Chemical Industry were so favored by capital that many people in the economic community were amazed. Shanxi's enterprises suddenly discovered that they had such a good opportunity. The desire of the remaining companies to enter the “national team” was activated, and many companies asked friends to help find opportunities for negotiation and reorganization with central enterprises. This phenomenon is not accidental. This is an upsurge created by the development trend of China's coal chemical industry.
Analysis of the industry, the merger and reorganization of central enterprises, the most important thing is to look at the Shanxi chemical companies are resource-based enterprises and have two basic characteristics of basic chemical raw materials, anti-risk ability and ability to become bigger and stronger also within the consideration of the central enterprises. "Eleventh Five-Year Plan for Development of Chemical Industry in Shanxi Province" puts forward that in the next five years, the total investment of Shanxi coal chemical key projects will reach 87 billion yuan, including mainly five main lines of "fat, alcohol, alkynes, benzene and oil". To the end of the “11th Five-Year Plan”, production capacity of 1 million tons/year urea, 4.5 million tons/year methanol, 2.5 million tons/year PVC, 1.6 million tons/year benzene and 2.55 million tons/year coal tar. It can be seen that the development of the coal chemical industry in Shanxi Province is uniquely endowed with resources and competitive advantages. At the same time, it also has strong policy support. In the world with rising oil prices and energy shortages, coal chemical industry has broad prospects for development. As an advantageous coal resource province, Shanxi's coal chemical industry has a good investment prospect.
For the current Shanxi chemical industry, relying on existing resources, it is quite difficult to achieve the “Eleventh Five-Year” target in a short period of time. Therefore, actively promote the reorganization of large-scale state-owned enterprises in Shanxi Chemical Industry, use the existing scale to build the relevant industrial chain, and become the only shortcut.
The original intention of joint mergers and acquisitions of enterprises is to achieve mutual complementarity through joint efforts, so as to become bigger and stronger. From the actual situation of the development of chemical industry in Shanxi in recent years, the joint merger of central enterprises is successful. So what does the merger and reorganization bring in the end?
After the “Third-year Construction, Three-year Trial, and Five-year Shock” Taihu TDI Project Signed a Restructuring Agreement with the China Bluestar Group in the form of debt mergers and debt restructurings, the China BlueStar Group invested 350 million yuan, not only Taihua resumed normal production, increased the original 20,000 tons/year of TDI output to 30,000 tons/year, and also caused huge fixed assets that had been idle for more than 10 years and the debt of 800 million yuan to return to life.
In July 2003, Taiyuan Rubber Factory signed an asset reorganization agreement with the China National Bluestar (Group) Corporation and the Taiyuan Municipal People's Government, and transferred Shuangxi Tire Industrial Co., Ltd. to the Bluestar Group as a whole. After Lan Xing took over, it invested 1.27 billion yuan on the basis of the original investment and launched the 1.8 million/year all-steel radial tire project that has been set aside for more than 10 years. By July this year, 600,000 sets of all-steel radial tire projects had been fully completed.
Shanxi Synthetic Rubber Group Co., Ltd. and Bluestar Group conducted asset integration and reorganization in 2003. The 30,000-ton/year neoprene project with an investment of 985 million yuan is currently under construction in Yanggao Industrial Park; China National Chemical Industry Group and Shanxi Fucheng Foster The reorganization of assets of Chemical Co., Ltd. has completed the construction of a 10,000-ton-class polyphenylene ether production line with an investment of 160 million yuan.
At the same time, the central government’s reorganization of Shanxi chemical companies was given a deeper meaning. Some scholars have pointed out that behind this reorganization, the willingness of the Shanxi provincial government to expand and strengthen local state-owned enterprises can be fully interpreted as “holding local resources firmly.” This will is even more apparent in resource-based industries such as coal chemical industry. . The restructuring of state-owned enterprises in Shanxi Province has become relatively easier because of the macro-level guidance from the government. The integration of the state-owned enterprises in the same industry has become more prominent in the marketization.
Some experts also propose different opinions and they can do good things. Why should they "sell" others? In the period to come, many outstanding enterprises in Shanxi will face the situation of being acquired or controlled by central enterprises. Five years later, when we recounted the top 100 enterprises in Shanxi, how many companies are genuine Shanxi enterprises?
In fact, local governments are more cautious than companies because of concerns about benefits and risks. “The SASAC is becoming more and more like a company when it comes to reorganization of state-owned enterprises.” Zhang Chonghui, director of the Shanxi Provincial State-owned Assets Supervision and Administration Commission, recently said that both Shanxi Luan Group and Xinjiang Coal Co., Ltd., the largest coal company in Xinjiang, signed a joint restructuring agreement. Technology or resources will be the basis for their win-win cooperation. Whether it is for the development of chemical industry in Xinjiang or Shanxi, whether it is the preservation or appreciation of state-owned assets, it is a special event that has special significance, events, events, and promotion. The common prosperity of the land is our common goal.

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