In China's huge steel production capacity, many small and medium-sized steel enterprises have unreasonable product structure and low grade, and there are many technologies and equipment that have been eliminated internationally in these enterprises, which will inevitably lead to high energy consumption, high pollution and low efficiency.
In addition, ordinary building steel has overcapacity and small profit margin. In 2009, driven by infrastructure projects, steel production was mainly concentrated in some low-end construction steels. According to the domestic steel output of 570 million t, these small and medium-sized steel enterprises still provide at least 200 million t for the market. Moreover, the output of some small and medium-sized steel enterprises is still on the rise, and how to completely eliminate backward production capacity in the future will still be a tough battle, which will inevitably involve the deepening merger, reorganization and integration of steel enterprises.
The low concentration of China's steel industry is also reflected in the fact that there are many steel enterprises but not strong. Compared with the major steel producing countries in the world, the concentration of steel industry in China is obviously low, and steel production is scattered. The output of large steel enterprises accounts for a small proportion of the national steel, and the dispersion of production intensifies the disorderly competition among steel enterprises. At the same time, due to the lack of super-large and powerful steel enterprises, compared with the trend of deepening merger and reorganization of global steel industry and the emergence of super-steel enterprises at present, the progress of China steel enterprises is obviously much slower, which is not conducive to the rational layout of industrial structure and the improvement of international competitiveness of China steel enterprises, further leading to the lack of voice in global resource procurement and product sales. With the rapid growth of domestic steel demand, the bottleneck contradiction of domestic iron ore resources is still difficult to solve, and China steel industry still relies heavily on imported ore.
Therefore, it is urgent to strengthen the merger and reorganization of iron and steel enterprises in China, improve industrial concentration, build a "strong enterprise" of iron and steel, and enhance the bargaining power of resources represented by iron ore. Among the top ten industrial revitalization plans, the steel industry ranks among them, and among the six key regulatory industries with overcapacity, the steel industry ranks first. This shows that the state attaches unprecedented importance to the steel industry, and its core is how to promote the structural adjustment of the steel industry and the merger and reorganization of enterprises.
Regarding the future development of China's iron and steel industry, there are four guiding industrial policies at the national level, namely, the iron and steel industry development policy, the iron and steel industry adjustment and revitalization plan, the guiding opinions on promoting the industrial structure adjustment and optimization and upgrading of raw materials in the central region, the merger and reorganization of iron and steel enterprises (expected to be issued in the near future), and the regional planning policies successively issued by steel-producing provinces such as Hebei and Shandong.
In particular, it should be pointed out that advantage reorganization is not a simple addition in mergers and acquisitions. The first viewpoint should be "advantage" first, highlighting the leading role of dominant enterprises in the process of restructuring and changing the traditional "matching" enterprise combination. It is necessary to find out the differences between the two sides in time, region, personnel and technology, and clarify the positioning and development direction after the merger.
The choice of M&A strategy, the determination of target enterprises and the integration of target enterprises after M&A will have a great impact on the success or failure of M&A. For example, although some companies have announced the merger, in fact, the specific production and operation processes are still fragmented and have not formed synergy and efficiency. The fundamental reason lies in the fact that it is particularly difficult to solve in the process of restructuring China's iron and steel industry, especially when it involves the interests of complex places or interested parties, which makes many administrative mandatory mergers and acquisitions become a mere formality in advance and simply add up, failing to reach the expected target structure.
The restructuring initiated by dominant enterprises and supported by the government from the perspective of long-term strategy of enterprises is more worth looking forward to. With the support of national and local policies, combined with comprehensive factors such as resource allocation and market complementarity, the dominant steel enterprises have defined the same direction and formed a unified business organization, which finally reflects the advantageous results after merger and reorganization.
Advantage reorganization of iron and steel industry can supplement and adjust the assets and corresponding production capacity among enterprises, radiate the management and technical advantages accumulated by advantageous enterprises to the integrated enterprises, and reduce the unit production cost; At the same time, the unit operating cost is also reduced because of the adjustment, and the original scattered marketing network and management personnel can be re-optimized. Through the rational division of production within the group, the specialized production level of subordinate subsidiaries can be improved, the production scale of specialized products can be expanded and the market share can be increased; For iron and steel enterprises, it can also improve the concentration of purchasing raw materials such as iron ore, reduce the purchasing cost, improve the enterprise's ability to resist risks, and finally achieve the goal of reducing the cost of steel production.
In June 2009, Premier Wen stressed during his inspection of iron and steel enterprises that structural adjustment must combine technological transformation, reduction of backward production capacity and merger and reorganization, and the revised iron and steel industry development policy will also put forward higher requirements for industry concentration. Deepening the reorganization of advantages in iron and steel industry will become the main trend of the development of the whole industry from 20 10 to 20 15.
Iron and steel industry is a typical scale economy industry, and the development of the industry itself is a large-scale process. Because China's support policy for steel enterprises is aimed at scale, many mergers and acquisitions in the steel industry are only for the pursuit of scale and capacity expansion. Economies of scale and high concentration are important characteristics of this industry. Shandong Iron and Steel reorganized Rizhao Iron and Steel, Baosteel merged Ningbo Iron and Steel, and Shougang laid out Changzhi Iron and Steel and Tonghua Iron and Steel. Since 2009, the pace of joint reorganization of China iron and steel enterprises has obviously accelerated. Especially with the introduction of steel revitalization plans in various provinces, merger and reorganization seems to be a compulsory course for every steel enterprise, and even some steel enterprises regard the number of steel enterprises to be acquired and reorganized as a hard indicator of whether to complete the annual task in their annual work plans.
Due to the huge existing iron and steel industry clusters in China and the multi-level and multi-regional distribution of iron and steel demand, the distribution of iron and steel industry will still show obvious regionalization, but the concentration in the region will be further improved, and it is expected to form a regional iron and steel cluster represented by several leading enterprises in the future. Enterprises that have not been merged also hope to continuously expand their production capacity and avoid being merged or eliminated, because the iron and steel industry policy clearly points out that a group of large iron and steel enterprises with 10 million tons will be formed, and these enterprises can get more support policies from the state. On September 8, 2009, the board of directors announced.
On May 2, 2009, Sinosteel Research Technology Group Co., Ltd., which was restructured into a wholly state-owned company, completed the change registration.
On March 19, 2009, the State-owned Assets Supervision and Administration Commission approved the reorganization of China Yan Gang Science and Technology Group Company into a wholly state-owned company, and conducted a pilot project of the board of directors.
On June 5438+1October 65438+1October 8, 2007, Sinosteel Research Technology Group Co., Ltd. was officially registered in the State Administration for Industry and Commerce.
On February 26, 2006, the State-owned Assets Supervision and Administration Commission (SASAC) officially approved: "The Iron and Steel Research Institute was renamed as China Yan Gang Science and Technology Group Company, and the Metallurgical Automation Research and Design Institute was merged into China Yan Gang Science and Technology Group Company and became its wholly-owned subsidiary."
In July 2006, "Iron and Steel Research Institute" was awarded the first batch of 103 innovative pilot enterprises by the Ministry of Science and Technology, the State-owned Assets Supervision and Administration Commission and the All-China Federation of Trade Unions.
From June 5438 to October 2004, "Iron and Steel Research Institute" was registered as a high-tech enterprise by Beijing Science and Technology Commission.
1July, 1999, the Iron and Steel Research Institute of the Ministry of Metallurgical Industry and the Automation Research Institute of the Ministry of Metallurgical Industry were transformed from scientific research institutions into large-scale scientific and technological enterprises directly under the central government. In March and May, 2000, they were registered as enterprise legal persons in the State Administration for Industry and Commerce, and were named "Iron and Steel Research Institute" and "Metallurgical Automation Research and Design Institute", which were affiliated to the State-owned Assets Supervision and Administration Commission of the State Council.
1988 In September, the Institute of Metallurgical Automation was renamed as the Institute of Automation of the Ministry of Metallurgical Industry.
1979, 1 The Iron and Steel Research Institute of the Ministry of Metallurgical Industry was named as the Iron and Steel Research Institute of the Ministry of Metallurgical Industry in June.
1973 10 The Ministry of Metallurgical Industry decided to merge the Architectural Research Institute, some units of the Iron and Steel Research Institute and Beijing Metallurgical Instrument Factory to form the Metallurgical Automation Research Institute.
1958 65438+ 10, the iron and steel industry research institute was renamed as the iron and steel research institute of the Ministry of Metallurgical Industry.
195565438+ 10, "Experimental Research Institute of Iron and Steel Industry" was renamed as "Comprehensive Research Institute of Iron and Steel Industry".
In June, 1952, 1 1, the iron and steel research institute was established, initially as the iron and steel industry experimental research institute of the Ministry of Heavy Industry.