What led to Yihua’s acquisition of Shuanghuan?
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Some people say that Yihua acquired Shuanghuan at that time because Shuanghuan was overwhelmed by the huge expenses during the commissioning of the SHELL coal gasification unit and went bankrupt.* * It was reorganized and acquired by Yihua. What is the reason? This post was last edited by Pioneer on 2008-1-11 18:44 ]
Hubei Shuanghuan is the first manufacturer in the world to apply SHELL technology to the chemical industry. It is understandable that its trial operation cost is huge, but if it leads to bankruptcy, it means that SHELL technology is too immature, at least at that time.
In fact, the specific reason was that the relationship between Shuanghuan and Hubei Provincial State-owned Assets Supervision and Administration Commission was not good at that time, no bank was willing to lend money, and the funds were broken. Boss Jiang from Yihua, Hubei is a very energetic person. He spent almost no money to buy Shuanghuan. He just helped Shuanghuan guarantee the repayment. Awesome, this is capital operation