1.5 billion acquisition of 10 coal mine temperature re-assigned to a piece of business - restructuri

1.5 billion acquisition of 10 coal mine temperature re-assigned to a piece of business - restructuri

15 M 10 Coal Mine, the first private non-Shanxi Coal Group set up

Temperature finally assigned to coal operators a share restructuring

Sensation last year, the country's coal mines in Shanxi integration event, most of Wenzhou coal owner suffered heavy losses, but Huang Xiang Miao has become a few exceptions.

Recently, Cangnan County of Underground Mining Association annual meeting, Cangnan membership entrepreneur Huang Xiang Miao announced that he had financed 1.5 billion, approved by the Shanxi provincial government, was founded at the Shanxi Coal Group Xiyang Fenghui, mergers and acquisitions of the 10 major coal Xiyang County. Huang Xiang seedlings Fenghui Group, Shanxi Province Coal Group's first private from other provinces.

Re-assigned to a piece of Coal

Yesterday, Shanxi Coal Group Leader Xiyang Fenghui Huang Xiang Miao told reporters, in fact, as early as last October 27, looks the same as Xiyang county government signed an agreement to set up Fenghui Coal Group, according to Shanxi Province The Government introduced in May last year, the "restructuring and revitalization of the coal industry in Shanxi Province plans" solely responsible for Xiyang County coal mine acquisition. Xiyang County's decision has also been approved by the Shanxi provincial government.

According to Huang Xiang Miao say: "This is the only one outside the provinces of Shanxi Coal Industry Group, the private."

Agreement just signed, Xiang Huang Miao United 56 relatives and friends, set up within one month of 1.5 billion financing Fenghui Group, expand the merger work. On November 24 last year, had in accordance with the relevant provisions of the Shanxi provincial government to pay 80% of the M & A section.

Present, Huang Xiang seedlings Fenghui Coal Group has 3,500 employees and 10 mines and coal reserves of 180 million tons to the current production, mining life can reach more than 50 years.

"On August 1 this year, the largest mine will be officially put into production capacity of 1.2 million tons, and the remaining four major mines will be completed by the end infrastructure." Huang Xiang Miao said all the 10 coal production, the Group on output will be 20 billion yuan. Wenzhou Xiang Huang Miao

Why? In accordance with the provisions of the Government of Shanxi Province, Shanxi Province, Shanxi Coal Mine M subjects are designated by the government in the province of large state-owned enterprises or private enterprises, such as the Miao Huang Xiang Wenzhou private enterprises from other provinces to take a slice?

"Of which there are many twists and turns, even I did not expect." Huang Xiang Miao said at first he thought only in accordance with the policy over to sell their coal.

Huang Xiang Miao from Cangnan county in rural areas. 1986, 20 years old along the mining Lingbao him to spell out day laborers, toiling, a small contractor, did 5 years.

1991 and 1996, Huang Xiang Miao two-Shanxi, have aimed at investment opportunities to buy shares with others Cooperation Operating coal mine.

2002 he went to Shanxi Xiyang, despite opposition from his family, bought the then-effective financing of 12 million yuan of poor iron charcoal kiln Xiyang County coal mine. Two years, the annual output of 30,000 tons of mineral can expand to produce 300,000 tons.

The end of 2008, Huang Xiang Miao total assets in Xiyang two companies reached 263 million yuan, annual output value of 150 million yuan, yearly tax of more than 2,000 yuan. Last year, he invested in Hebei Jin Xiangxing (iron) Mining Co., Ltd..

"He Xiyang 10 million in total donations over 1000." A person familiar with Huang Xiang Miao said, it is, therefore, Xiang Huang Miao except as "Xiyang County of Wenzhou Chamber of Commerce", the successively elected as the sixth, seven Session Xiyang , vice president of Industry and Commerce Xiyang County, Shanxi Province Zhejiang Business Association executive vice president of corporate development, president of Zhejiang Province, the posts have been Xiyang county and higher levels of government recognition of the leadership .

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