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The Plan of Zhongze Group to Restructure Horoc Group was Approved - Group News - ZHONGZE GROUP
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The Plan of Zhongze Group to Restructure Horoc Group was Approved
On June 14,Zhongze Holding Group Co., Ltd. has successfully restructured Jilin HOROC Group Co., Ltd., which will open a new way of HOROC Group's mixed ownership reform.
2019-06-19中泽集团 浏览(5222)

The Plan of Zhongze Group to Restructure Horoc Group, a key state-owned Enterprise in Jilin Province was Approved


    On June 14,Zhongze Holding Group Co., Ltd. has successfully restructured Jilin HOROC Group Co., Ltd., which will open a new way of HOROC Group's mixed ownership reform.
    In the last 10 years, influenced by the nickel price continued to fall and other disadvantages, HOROC Group's domestic incremental projects and overseas mergers and acquisitions projects have failed to achieve expectations, large amount of debt made the enterprise into a debt crisis, operation crisis and credit crisis. In 2018, HOROC Group and its subsidiaries Jilin Jien Nickel Industry Co., Ltd., and Jilin Daheishan Molybdenum Industry Co., Ltd., entered in to restructuring process according to law.
    Zhongze Holding Group Co., Ltd. is a large private group whose core business is investment, merger and acquisition and business development, and with investment of M&A and restructure large and medium-sized enterprises, implementation of resource integration and constantly import emerging industries as the development mode, promoted the strategy of “Two-wheel drive for investment merger and acquisition investment and enterprise development”,established the industrial pattern of "multi-point support, multi-industry simultaneous development and diversified development".
    Over the past 20 years, Zhongze Group has acquired and restructured large state-owned enterprises for dozens of times, and through system transformation, structural adjustment, relocation and reconstruction and other innovative modes, transformed and upgraded the restructured enterprises and achieved sustainable development.
    Zhongze Group invested nearly 5 billion yuan in the restructure, will provide HOROC Group with financial support, and import the market mechanism and management concept, fully release Horoc enterprise brand, technology and talent advantages in the field of nickel, molybdenum and other fields, gradually into the new energy, new materials, advanced alloy material field layout, to realize enterprise transformation  from the personnel intensive to technology intensive .
    After the acquisitions of Jitie and Jilin Carbon, Zhongze Group successfully restructured HOROC, which brings a significant influence for enterprise image, economic strength and asset scale, etc. And this also brings a broad platform for Zhongze Group, positive stimulating role for Zhongze Group long-term development strategy to establish diversified industry structure, integrate multiple formats of industrial clusters, revitalize multidimensional investments and etc.


 

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