subject: Glass Industry To Enter Integration Of [print this page] Relevant regulatory authorities at the national glass industry overcapacity, the constant reminder of the case, the glass in the ongoing restructuring of industry consolidation. Up to 4 years old Legend Hony Capital to participate in China Yaohua Glass Group, has finally been re-
New development.
Recently, the reporter learned from the Hony Capital, October 27, CDH Investments and Hony Capital Qinhuangdao municipal government on the China Yaohua Glass Group Corporation (hereinafter referred to Yaohua Group) signed a framework agreement. Under the agreement, joint venture Hony Capital will jointly to the Group and Qinhuangdao Yaohua Glass Group Northern Ltd. (hereinafter referred to as the North Group) replenishment of the 100 million U.S. dollars, to participate in Yew Wah Group of restructuring, and to promote the restructuring of the two.
Market analysts believe that, due to the background of Qinhuangdao Yaohua the national capital city is also looking forward to a new Yaohua, in the near future, the integration of reorganization may occur in the northern Yaohua Glass Group, and between groups.
Restructuring into the fast lane
It is understood that Yaohua Group was founded in 1922, known as "the cradle of China's Glass Industry", is a major pillar of enterprise groups in Hebei Province. "Wah" brand float glass by the state as "Chinese Famous Brand" and "China Top Brand" products are sold abroad more than 40 countries and regions. Yaohua there Qinhuangdao Yaohua Glass Group Corporation, the ST Yaohua.
The northern group is in the Float Glass Group, founded by restructuring on the basis of a class of large-scale state-owned enterprises, was founded in 1976, the North Group and Qinhuangdao Yaohua Group belong to the management of state-owned enterprises SASAC.
However, in recent years, Yew Wah Group of successive losses, production and management trouble. Industry sources, as early as in March 2005 from the beginning wanted to invest in restructuring Yaohua Group, whose aim is to manufacture aircraft carriers made of glass in China. Today, Hong Yi and Wah scandal last few years the spread of dust landing. Hong-yi, president Ling-Huan pleased at the signing ceremony, said: "The Wah Group's investment is an important area of Hong Yi in the strategic plan of building materials, we will play a variety of Legend Holdings and Hong Yi Wah resources and advantages for the provision of various value-added services . "
In this framework agreement, the two sides on the investment company's future plant relocation, the new production line, the north and Yaohua Glass Group Glass Group's integration of major strategic plan have reached a consensus. It is understood that after the reorganization of property rights Yew Wah, will highlight the industry leading position, Yiu Wah Group of registration and the "Wah" brand change, the arrangements of workers is more than 85% of employment in the restructured enterprise posts.
Glass industry to enter integration of
Along with national regulatory authorities for glass and other traditional industries to remind overcapacity, the Wah Group of substantive progress in restructuring and reorganizing.
Guoxin Securities analyst Yang Xin, a senior building materials industry, said Hong Yi for Lenovo, the acquisition of the company Yaohua naturally conducive to their bigger and stronger, the two major shareholders of China Glass Pilkington Hony Capital and the expansion of the domestic market has ambition, the acquisition will not Yaohua acquisition of its domestic market, the final step in the road. China to build aircraft carrier into Hong Yi's determination of glass.
However, already in oversupply in the domestic glass market, the restructuring decision Yaohua Glass industry consolidation seems to be the tide of a waves restructuring only. Market analysts believe that excess capacity led to companies unable to expand production through to solve the problem, only by way of the acquisition will lead to an oligopoly industry pattern, will be conducive to development of the industry.
It is anticipated that in the near future, the glass industry will re restructuring wave.
