A Research On Merger Patterns And Performance Of China's Cement Industry

Cement industry is an important basic raw materials industry of national economy. Cement industry development is a measure of a country's industrialization and the main mark of comprehensive strength. In the last ten years, China's cement industry developed rapidly in the context of large-scale infrastructure construction, real estate development and the construction of new countryside. However, the unreasonable industrial structure, excess capacity, the lower degree of concentrate and the lower profit level of enterprise came out with the rise. Because of the special position in the process of industrialization, low concentration and low profit level of industry characteristics, this article selects the cement industry as the research object of merger patterns and performance.The essay firstly analyzes the environment and current situation of the cement industry industrial merger, and classifies and summarizes the main merger mode of our cement industry, and contrasts different modes. Finally, based on the theory and practice above, my essay makes an empirical research for the performance of the cement industry merger. The results of the study show that equity agreement is the best choice at present in the cement industry, and at the same time, industrial chain integration can be used as the future mode of mergers and acquisitions in China's cement industry. In m&a of performance, the score of enterprise comprehensive performance after two years after is really improved than score before merger, which mergers and acquisitions really brought improved for our cement industry.