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Insolvency insolvency
Jiujiang Chemical Plant was founded in 1958 and was one of the 22 key chlor-alkali producers in the national chemical industry. In Jiangxi Province, it is the largest chlor-alkali producer and the only chlor-alkali producer with both organic and inorganic products. After decades of development, the Jiujiang Chemical Plant has also created glory. In its peak period, it has fixed assets of about 1 billion yuan, total assets of more than 1.7 billion yuan, and annual production value of 380 million yuan. However, it is such a large-scale second-tier enterprise in the country that, under the huge social and historical burden, with the strong promotion of the market economy, the operating mechanism and management model established in the era of the original planned economy has brought the enterprise into a difficult position. . By 2002, the company had already had a debt of 450 million yuan and was in a serious position of insolvency. Workers’ wages were suspended, factory water and electricity were owed, and raw material purchases could not be paid. Ultimately, companies chose policy bankruptcy as their ultimate destination.
With the acceleration of the restructuring of large-scale enterprises in the country, the Jiujiang Municipal Committee and the municipal government reviewed the situation and actively sought to solve the difficult problems for Jiujiang Chemical Factory. In 2002, Jiujiang Xinkangda Chemical Industrial Co., Ltd. implemented a lease operation on Jiujiang Chemical Factory. The new company relocated 1200 employees of the old company to re-employment, and paid “three bonuses†for them, and took full wages of the employees left behind by the company. As a transitional model, leasing makes the old company's first turn very smooth.
Conversion mechanism is back to life
"Old companies have equipment, technology, talent, but also have a certain market base, in order to make the company back to life, it is important to change the system." New Kangda Chemical Industry Co., Ltd. General Manager Gu Xiangguo in the phrase. After leasing, the company carries out all-round reforms. On the one hand, it will transform the operating mechanism, externally market-oriented, adjust the product structure, and actively explore the market; on the internal reform of the organizational structure, adjust the distribution principle, establish a competition mechanism, and implement a performance-related reward and punishment system to ensure that people do their best and make the best use of it. On the other hand, to ensure that the employees of the original enterprise are fully employed, they signed a long-term employment contract with them before signing the identity replacement agreement. Under the premise of guaranteeing “three funds,†the wages have also been greatly improved.
The mechanism is widening. After the mechanism is straightened out, the sales of the company's products will soon open. From 2002 to now, the sales volume of the company's products has been increasing year by year, and 100% of the money has been withdrawn. Over the past few years, New Kangda Chemical Industrial Co., Ltd. has been ranked among the best in the province's industry in terms of production, sales, sales revenue and market share, and has become a leader in the chemical industry in Jiangxi. In September 2006, approved by the State Council, the Jiangxi Provincial Government made a decision on the bankruptcy reform of the Jiujiang Chemical Plant, the retreat into the suburbs, and the reconstruction of the offsite. In 2009, the Jiujiang Chemical Plant was restructured and restructured to carry out substantial operations. In order to solve the problem of employment and life of most employees after the bankruptcy of Jiujiang Chemical Factory and maintain social stability and harmony, the bankruptcy relocation and reconstruction project is planned to be implemented. On September 23, 2009, Jiujiang Chemical Factory officially signed a reorganization agreement with Xinkangda Chemical Industry Co., Ltd., and on September 27, started the resettlement work for employees. At present, 98% of Jiujiang Chemical Factory employees have signed an identity replacement agreement. While signing an identity replacement agreement, employees can choose to sign a labor agreement with Xinkangda Chemical Industry Co., Ltd., achieving a “win-win†for enterprise restructuring, employee placement, and relocation of factory buildings. In October 2009, the second phase of the new Kangda Chemical Industry Co., Ltd. was established in Jinshawan Industrial Park, Hukou County. The total investment of the project is 1 billion yuan, which is divided into two phases. The first phase will invest 300 million yuan. It will be completed and put into operation in October of this year. The second phase will be completed and put into operation in 2013. The annual output value will be 1.5 billion yuan and the tax revenue will be 60 million yuan.
Jiujiang Chemical Plant Restructuring Sidekick New Kangda Phase II Expansion Starts Production This Year
In April 2002, it was a memorable day for the Jiujiang Chemical Plant, which had been built for nearly half a century. The old state-owned enterprise with heavy historical burden and production and management difficulties was leased by Jiujiang New Kangda Chemical Industry Co., Ltd. Re-firing, the once-depressed plant area has returned to life. On October 28, 2009, the commencement ceremony for the second phase of the expansion project of the restructuring and restructuring of Jiujiang Chemical Factory and the new Kangda Chemical Industry Co., Ltd. was held at Jinshawan Industrial Park in Hukou County. At this point, Jiujiang Chemical Factory, which has already been “policy-destructiveâ€, has successfully completed the restructuring of state-owned enterprises. A large number of state-owned idle assets have been able to be revitalized.