Anshan Iron and Steel reorganizes Benxi Iron and Steel, the world's third largest steel company is born
Our reporter Wen Jicong
After the reorganization, Angang's crude steel production capacity will reach 63 million tons, and its operating income will reach 300 billion yuan, ranking second in China and third in the world.
Angang's future development can be expected, but the bottleneck challenge still exists.
According to expert analysis, Ansteel's reorganization of Benxi Iron and Steel needs to realize the substantive transfer of control rights, effectively improve the company's governance capabilities, and effectively realize the further integration of Anshan Iron and Steel's Benxi Iron and Steel's culture and thinking, before it can achieve the synergy of "one plus one greater than two".
On August 20th, Anshan Iron and Steel's reorganization meeting of Benxi Iron and Steel was held in Anshan City, Liaoning Province.
The State-owned Assets Supervision and Administration Commission of Liaoning Province transferred its 51% equity interest in Benxi Iron and Steel to Anshan Iron and Steel for free, and Benxi Iron and Steel became the controlling subsidiary of Anshan Iron and Steel.
After this reorganization, Angang's crude steel production capacity will reach 63 million tons, and its operating income will reach 300 billion yuan, ranking second in China and third in the world. The industry’s voice and leadership will continue to increase, and it will strive to build a "steel aircraft carrier" in Northeast China. "Baowu in the south and Anshan Iron and Steel in the north" pattern.
It is understood that Anshan Iron and Steel has a complete product series such as general steel, special steel, stainless steel, vanadium and titanium, and its profit in 2020 will be the best in history.
In the first half of 2021, the total profit achieved exceeded 20 billion yuan, the sales profit rate reached twice the industry average, the asset-liability ratio was lower than the average level of central enterprises and the industry, and the international rating was investment grade.
Benxi Iron and Steel is the largest provincial state-owned enterprise in Liaoning Province, with rich mineral resources, first-class technology and equipment, the world's widest continuous hot rolling unit, world-class cold rolling production line, and a crude steel production capacity of 20 million tons.
Tan Chengxu, Chairman of Anshan Iron and Steel Group, said that Anshan Iron and Steel's reorganization of Benxi Iron and Steel will help increase the concentration of the iron and steel industry, promote the optimization and structural adjustment of the iron and steel industry, maintain the safety and stability of the supply chain of the iron and steel industry, and promote the high-quality development of the iron and steel industry.
Industry insiders believe that Anshan Iron and Steel’s main production base in Liaoning is adjacent to Benxi Iron and Steel, and the resource endowments, production line allocation, and product structure are relatively similar, which has caused serious disorderly competition between the two companies for a long time, which has reduced the two companies’ Competitiveness.
The reorganization is conducive to giving full play to the synergy in the aspects of strategy, resources, R&D, procurement, sales, logistics, etc., speeding up the unified production capacity layout, avoiding repeated investment and construction, effectively promoting the upgrading of technical equipment and product structure optimization, and rapidly improving efficiency and benefits.
The iron and steel industry is the foundation of the country's industry, and iron ore is the main raw material for the iron and steel industry.
At present, my country's dependence on foreign iron ore is as high as 80%, which is a risk point for the development of my country's steel industry.
Liu Jie, an academician of the Chinese Academy of Engineering, said that after the reorganization, through the use of Anshan Iron and Steel's relatively advanced mining and dressing technology advantages and mine construction capabilities, it can effectively reduce the dependence on imported iron ore, solve the "stuck neck" problem, and help improve the national iron ore resources. Security capability.
Angang's reorganization of Benxi Iron and Steel can be expected to develop, but the bottleneck challenge still exists.
Chen Li, chief economist of Chuancai Securities, said frankly that the reorganization has been mentioned for many years, because one is a central enterprise and the other is a local state-owned enterprise, and the production bases are all in the same area. How to achieve better coordination at taxation and management levels requires Both sides conducted in-depth research.
Especially with the large number of old employees in enterprises, the issue of green development is also the focus. How to optimize resources and make a good combination of the two needs to be further explored.
Tian Lihui, Dean of the Institute of Financial Development of Nankai University, said that the sign of successful restructuring is whether it can successfully integrate and achieve the synergy effect of “one plus one is greater than two”.
Otherwise, mergers and acquisitions and reorganizations may also experience reduced efficiency and substantial failure.
Angang's reorganization of Bengang needs to realize the substantial transfer of control, effectively improve the company's governance capabilities, and effectively realize the further integration of Angang's Bengang's culture and thinking.
Wen Jicong
Wen Jicong