The hottest restructuring entered the fast lane, a

2022-09-19
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Reorganization and restructuring enter the fast lane, and the glass industry enters the integration period

under the continuous reminder of overcapacity in the glass industry by relevant national regulatory departments, the integration and reorganization of the glass industry continues. Lenovo Hony investment, which has participated in the restructuring of China Yaohua Glass Group for four years, finally made new progress

recently, we learned from Hony capital that on October 27, Hony capital signed a framework agreement with Qinhuangdao Municipal Government on Hony's investment in China Yaohua Glass Group Corporation (hereinafter referred to as Yaohua Group). According to the contents of the agreement, Hony capital will jointly invest with CO investors to increase the capital of US $100million to Yaohua Group and Qinhuangdao Northern Glass Group Co., Ltd. (hereinafter referred to as Northern Group) to participate in the restructuring of Yaohua Group and promote the restructuring of the two

market analysts believe that due to Yaohua's state-owned background, a group of leading enterprises and leading military materials in Qinhuangdao Municipal Administration continue to grow, and the government is more looking forward to a new Yaohua. In the near future, the integration and reorganization may occur between Northern Glass Group and Yaohua Group

It is understood that Yaohua Group, founded in 1922, is known as the "cradle of China's glass industry" and is a large-scale pillar enterprise group in Hebei Province. "Yaohua" brand float glass is recognized by the state as "China Chi regulations to adopt methods (4) to verify famous trademarks" and "China's famous brand products", and its products sell well in more than 40 countries and regions at home and abroad. Yaohua Group also owns Qinhuangdao Yaohua Glass Co., Ltd., or ST Yaohua

North group is a large-scale first-class state-owned enterprise restructured and formed on the basis of float glass group. It was founded in 1976. North group and Yaohua Group are both state-owned enterprises managed by the state owned assets supervision and Administration Commission of Qinhuangdao

however, in recent years, Yaohua Group has suffered losses for years, and its production and operation have fallen into difficulties. Industry insiders revealed that they wanted to invest in the reorganization of Yaohua Group as early as March 2005, with the purpose of making China's glass manufacturing aircraft carrier. Up to now, the scandal of Hony and Yaohua spread for several years has finally fallen to the ground. Zhao Linghuan, President of Hony, said happily at the signing ceremony: "the investment in Yaohua Group is an important strategic deployment of Hony in the field of building materials. We will give full play to the resources and advantages of Lenovo holdings and Hony to provide various value-added services for Yaohua."

in this framework agreement, the two sides have reached a consensus on major strategic arrangements such as the future factory relocation, the construction of new production lines, and the integration of Northern Glass Group and Yaohua Glass Group. It is understood that after the reorganization of Yaohua's property rights, it will highlight the leading position in the industry. The registration place of Yaohua Group will remain unchanged, and the "Yaohua" brand will remain unchanged. More than 85% of the on-the-job employees will be arranged to work in the enterprises after the restructuring

the glass industry has entered the integration period

with the reminder of overcapacity in traditional industries such as glass by the national regulatory authorities, the restructuring and reorganization of Yaohua Group has made substantial progress. However, Yang Xin, a senior analyst in the building materials industry of Guosen Securities, said that for Lenovo Hony, the acquisition of Yaohua is naturally conducive to the growth and strength of the enterprise itself. Hony capital and Pilkington, the two major shareholders of China glass, have ambitions to expand the domestic market, and the acquisition of Yaohua will never be the last step in the acquisition of its domestic market. Building a Chinese glass aircraft carrier has become Hongyi's determination

however, for the domestic glass market, which is already in oversupply, the final decision of Yaohua reorganization seems to be just a spray of door structure corresponding to the wave of integration and reorganization of the glass industry. Market analysts believe that overcapacity makes it impossible for enterprises to solve problems by expanding production. Only by leading the industry to an oligarchic competition pattern through acquisition will it be conducive to the development of the industry

it can be expected that in the near future, the glass industry will reproduce the restructuring wave

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