Under the pressure of industrial restructuring and the elimination of production capacity, private steel enterprises in Hebei have turned to state-owned steel enterprises to seek a way out.
In Qian'an City, Tangshan City, Hebei Province, Jiujiang Wire Material Co., Ltd. (hereinafter referred to as Jiujiang Wire) is adjacent to Shougang Qian'an Iron and Steel Co., Ltd. (Shougang Qian'an) and Tangshan Songting Iron and Steel Co., Ltd.
For a long time, the status of the state-owned enterprise of Shougang Qian’an did not envy the Jiujiang wire.
“Before 2010, private steel enterprises were light in burden, flexible in management, and they were able to live well.†A senior executive of Jiujiang Wire sighed to the reporter that the days were getting more and more difficult. In addition to market changes, the policy risks were also more The bigger it is.
In order to avoid policy risks and avoid being merged by other companies, as early as 2008, led by Jiujiang Wire, 27 local private steel and mining companies jointly formed a large private steel group - Great Wall Steel Group.
However, as the regulatory policies of China's steel industry become more stringent, the identity of large private steel groups cannot make enterprises feel practical, and they have begun to envy the “state-owned enterprise background†of Shougang Qian'an.
"Joining the state-owned enterprises, at least not worrying about being a 'steel black household' and being shut down, that is to say, it can fundamentally reduce policy risks." The above-mentioned Jiujiang wire material executives said frankly.
In the recent less than two months, 12 private steel enterprises in Hebei have joined the Hebei Iron and Steel (3.81, -0.03, -0.78%) Group (hereinafter referred to as Hebei Iron and Steel), the largest steel company in Hebei Province. Jiujiang wire is one of them.
This also announced the failure of the plan to form a private steel group between private enterprises in Hebei Province.
Embarrassed
The establishment of a large-scale private steel group in Hebei Province began in 2006. At that time, the National Development and Reform Commission's "Steel Industry Policy" was just released, clearly stated that the goal of macroeconomic regulation and control is to eliminate backward production capacity and solve the problem of overcapacity. In principle, it will not significantly expand steel production capacity.
In the face of severe macroeconomic regulation and control, for many private steel enterprises in Wu'an City, which had only a few hundred thousand tons of production scale at that time, only the joint formation of large-scale groups to evade regulation and control has no way out.
In February 2006, Hebei Xinwuan Iron and Steel Group Co., Ltd., which was registered with Hebei Administration for Industry and Commerce, was established. The company consists of 12 private steel companies including Wu'an Wenfeng Iron and Steel Co., Ltd., Puyang Iron and Steel Co., Ltd. and Xinghua Iron and Steel Co., Ltd. The 12 natural persons jointly invested 1.25573 billion yuan, and the Wu'an Municipal Government invested 240 million yuan in the name of Wu'an State-owned Assets Management Co., Ltd.
The new Wu'an Iron and Steel Group produced 16.71 million tons of crude steel in 2009, and its production capacity ranked eighth in China, becoming a large steel enterprise group in China. However, although the new Wu'an Group ranks among the top ten in the Chinese steel industry, its crude steel production figures are simply a combination of its subsidiaries and there has been no substantial restructuring.
“The establishment was not based on market operation, nor was it an administrative order, just to avoid the risk of being merged. Therefore, most member companies did not promote the actual restructuring.†A deputy general manager of Xinwuan Iron and Steel Group told this reporter. It is confessed that the size and profitability of each member company are similar, and no one has the strength to take the lead in restructuring.
Different from the new Wu'an Group, the two major private steel groups established in Tangshan City at the end of 2008, the Great Wall Iron and Steel Group and the Tangshan Bohai Iron and Steel Group, have strong government support and some companies take the lead in restructuring. Even so, the two groups are facing the same embarrassing situation as the new Wu'an.
On December 19, 2008, 39 private steel enterprises in Tangshan City, Hebei Province were consolidated and reorganized into two major steel groups, namely Great Wall Steel Group and Tangshan Bohai Iron and Steel Group. Great Wall Steel was led by Jiujiang Wire and was invested by 27 private steel enterprises in Qian'an. Bohai Steel was led by Guofeng Iron and Steel, and was funded by 12 private steel enterprises in Fengnan District of Tangshan.
The above-mentioned Jiujiang wire material executives said that at the beginning of the establishment of the Great Wall Steel, the Qian'an Municipal Government required the enterprises to implement the “five unification†as soon as possible and enter the substantive operation stage, and must reach close cooperation before the end of August 2009. According to the Great Wall Steel Plan, the enterprise's backward production capacity will be packaged and replaced, and the new coastal capacity will be replaced to achieve the first step of substantial restructuring. However, this plan has not been approved by the state. "After that, the substantial restructuring of Great Wall Steel will be stranded. Each company manages itself."
“At the beginning of the establishment of Bohai Steel, it was planned to relocate and reduce and replace the new steel enterprise with a capacity of 5 million tons to achieve a substantial restructuring.†An official of Guofeng Iron and Steel revealed to the reporter.
According to the plan of Bohai Iron and Steel Group, the first phase of the project is an annual output of 5 million tons of iron steel. During the project construction period, 12 member companies will not increase new production capacity, and will not launch large-scale technical transformation projects, and set a timetable for eliminating backward equipment. After the completion of the first phase of 5 million tons of production capacity, 22 blast furnaces and 14 converters of Guofeng and other member companies were demolished, and the total ironmaking capacity was 6.82 million tons/year and the steelmaking capacity was 6.9 million tons/year. The main body of the enterprise was 12 The number of homes has been reduced to six.
After Bohai Steel's new production capacity of 5 million tons has reached production and the Group's stable operation, according to the requirements of industrial policies, the Group will continue to carry out relocation and reduction and replacement by adopting various methods such as reverse merger of its subsidiaries and equity of member companies. In the end, the number of enterprises was reduced from 12 to one, which reduced the total steel production capacity of Tangnan Fengnan District by 20%, forming a modern steel group with reasonable layout, advanced technology and more than 10 million tons of production capacity.
"Now, the elimination of backward production capacity of our member companies has been completed, and each enterprise has eliminated the blast furnace below 200 cubic meters, but the approval of the replacement is not available, we can not carry out the next step." The above Guofeng Steel executives It is said that the 5 million tons base is a platform for the development of 12 private steel enterprises in Fengnan District to eliminate backward production capacity. If it cannot be started, it is equivalent to the integration of Bohai Steel.
An industry veteran of the Hebei steel industry revealed to the reporter that Hebei Province actually valued the project of Bohai Steel, and the provincial leaders also went to the Ministry of Industry and Information Technology for “public relationsâ€.
In Qian'an City, Tangshan City, Hebei Province, Jiujiang Wire Material Co., Ltd. (hereinafter referred to as Jiujiang Wire) is adjacent to Shougang Qian'an Iron and Steel Co., Ltd. (Shougang Qian'an) and Tangshan Songting Iron and Steel Co., Ltd.
For a long time, the status of the state-owned enterprise of Shougang Qian’an did not envy the Jiujiang wire.
“Before 2010, private steel enterprises were light in burden, flexible in management, and they were able to live well.†A senior executive of Jiujiang Wire sighed to the reporter that the days were getting more and more difficult. In addition to market changes, the policy risks were also more The bigger it is.
In order to avoid policy risks and avoid being merged by other companies, as early as 2008, led by Jiujiang Wire, 27 local private steel and mining companies jointly formed a large private steel group - Great Wall Steel Group.
However, as the regulatory policies of China's steel industry become more stringent, the identity of large private steel groups cannot make enterprises feel practical, and they have begun to envy the “state-owned enterprise background†of Shougang Qian'an.
"Joining the state-owned enterprises, at least not worrying about being a 'steel black household' and being shut down, that is to say, it can fundamentally reduce policy risks." The above-mentioned Jiujiang wire material executives said frankly.
In the recent less than two months, 12 private steel enterprises in Hebei have joined the Hebei Iron and Steel (3.81, -0.03, -0.78%) Group (hereinafter referred to as Hebei Iron and Steel), the largest steel company in Hebei Province. Jiujiang wire is one of them.
This also announced the failure of the plan to form a private steel group between private enterprises in Hebei Province.
Embarrassed
The establishment of a large-scale private steel group in Hebei Province began in 2006. At that time, the National Development and Reform Commission's "Steel Industry Policy" was just released, clearly stated that the goal of macroeconomic regulation and control is to eliminate backward production capacity and solve the problem of overcapacity. In principle, it will not significantly expand steel production capacity.
In the face of severe macroeconomic regulation and control, for many private steel enterprises in Wu'an City, which had only a few hundred thousand tons of production scale at that time, only the joint formation of large-scale groups to evade regulation and control has no way out.
In February 2006, Hebei Xinwuan Iron and Steel Group Co., Ltd., which was registered with Hebei Administration for Industry and Commerce, was established. The company consists of 12 private steel companies including Wu'an Wenfeng Iron and Steel Co., Ltd., Puyang Iron and Steel Co., Ltd. and Xinghua Iron and Steel Co., Ltd. The 12 natural persons jointly invested 1.25573 billion yuan, and the Wu'an Municipal Government invested 240 million yuan in the name of Wu'an State-owned Assets Management Co., Ltd.
The new Wu'an Iron and Steel Group produced 16.71 million tons of crude steel in 2009, and its production capacity ranked eighth in China, becoming a large steel enterprise group in China. However, although the new Wu'an Group ranks among the top ten in the Chinese steel industry, its crude steel production figures are simply a combination of its subsidiaries and there has been no substantial restructuring.
“The establishment was not based on market operation, nor was it an administrative order, just to avoid the risk of being merged. Therefore, most member companies did not promote the actual restructuring.†A deputy general manager of Xinwuan Iron and Steel Group told this reporter. It is confessed that the size and profitability of each member company are similar, and no one has the strength to take the lead in restructuring.
Different from the new Wu'an Group, the two major private steel groups established in Tangshan City at the end of 2008, the Great Wall Iron and Steel Group and the Tangshan Bohai Iron and Steel Group, have strong government support and some companies take the lead in restructuring. Even so, the two groups are facing the same embarrassing situation as the new Wu'an.
On December 19, 2008, 39 private steel enterprises in Tangshan City, Hebei Province were consolidated and reorganized into two major steel groups, namely Great Wall Steel Group and Tangshan Bohai Iron and Steel Group. Great Wall Steel was led by Jiujiang Wire and was invested by 27 private steel enterprises in Qian'an. Bohai Steel was led by Guofeng Iron and Steel, and was funded by 12 private steel enterprises in Fengnan District of Tangshan.
The above-mentioned Jiujiang wire material executives said that at the beginning of the establishment of the Great Wall Steel, the Qian'an Municipal Government required the enterprises to implement the “five unification†as soon as possible and enter the substantive operation stage, and must reach close cooperation before the end of August 2009. According to the Great Wall Steel Plan, the enterprise's backward production capacity will be packaged and replaced, and the new coastal capacity will be replaced to achieve the first step of substantial restructuring. However, this plan has not been approved by the state. "After that, the substantial restructuring of Great Wall Steel will be stranded. Each company manages itself."
“At the beginning of the establishment of Bohai Steel, it was planned to relocate and reduce and replace the new steel enterprise with a capacity of 5 million tons to achieve a substantial restructuring.†An official of Guofeng Iron and Steel revealed to the reporter.
According to the plan of Bohai Iron and Steel Group, the first phase of the project is an annual output of 5 million tons of iron steel. During the project construction period, 12 member companies will not increase new production capacity, and will not launch large-scale technical transformation projects, and set a timetable for eliminating backward equipment. After the completion of the first phase of 5 million tons of production capacity, 22 blast furnaces and 14 converters of Guofeng and other member companies were demolished, and the total ironmaking capacity was 6.82 million tons/year and the steelmaking capacity was 6.9 million tons/year. The main body of the enterprise was 12 The number of homes has been reduced to six.
After Bohai Steel's new production capacity of 5 million tons has reached production and the Group's stable operation, according to the requirements of industrial policies, the Group will continue to carry out relocation and reduction and replacement by adopting various methods such as reverse merger of its subsidiaries and equity of member companies. In the end, the number of enterprises was reduced from 12 to one, which reduced the total steel production capacity of Tangnan Fengnan District by 20%, forming a modern steel group with reasonable layout, advanced technology and more than 10 million tons of production capacity.
"Now, the elimination of backward production capacity of our member companies has been completed, and each enterprise has eliminated the blast furnace below 200 cubic meters, but the approval of the replacement is not available, we can not carry out the next step." The above Guofeng Steel executives It is said that the 5 million tons base is a platform for the development of 12 private steel enterprises in Fengnan District to eliminate backward production capacity. If it cannot be started, it is equivalent to the integration of Bohai Steel.
An industry veteran of the Hebei steel industry revealed to the reporter that Hebei Province actually valued the project of Bohai Steel, and the provincial leaders also went to the Ministry of Industry and Information Technology for “public relationsâ€.
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