by the industry as "super carrier" of the Bright Food Group is a large-scale "downsizing", and in accordance with the Shanghai State-owned "a retreat into a" policy, Bright Food Group in thin At the same time, is also accelerating the expansion of overseas acquisitions.

Bright Food Group owns four listed companies, the highest number of its subsidiaries had reached nearly 3,000, suffered outside the "big but not strong," the criticism. Yesterday (January 19), Bright Food Group Chairman Wang Zongnan told reporters that in 2010 the Group completed the sale number, restructuring, certain things to exit 35, Number 5 compression industries involved; two years, the compression Number 17 involving industry, the number of groups involved in the industry 50 years from 2008 down to 33. Currently, the number of Guangming Group subsidiary has been compressed to more than 500.

From nearly 3,000 500 The

as corporate restructuring and other historical reasons, the Bright Food Group for many years facing the management level has been too long, too wide dispersion of cross-industry issues. "The maximum number of its subsidiaries had reached nearly 3,000, the management had reached a maximum level of 6, in such a huge administrative system, the group headquarters, a command is passed to the fifty-six through layers of subsidiaries, not to mention the implementation of the is the understanding of the instructions are often the deviation. "Cao Shumin Bright Food Group president, said in an interview earlier.

2009, the Shanghai SASAC should be required, Bright Food Group within the proposed "three-year exit plan", on the one hand stripping associated with the main business, industry, take off, stop and, transfer, sell approach, gradually reducing the industries involved; on the other hand, through the restructuring, equity transfer, mergers and other means, the compression management level, shutting down a large number of middle layer of the "loft" companies, striving to 3 years so that the number of industry groups decreased from 50 to 33, 3 to 5 years will be reduced to three levels of the management level.

The end of 2008, a subsidiary of Bright Food Group had 644, involved in the industry 50. End of 2009, Bright Food Group under five, six companies have all been canceled, the cancellation of about 90 the number of companies.

"2010 years, we complete the sales numbers, restructuring, certain things to exit 35, the compression industry, the number of five, two years, compression (covered) sector number 17, Group (involved) industry has been reduced to 33. "Wang Zongnan said, is expected to be completed within the next two years to exit goals.

This means that the number of Group subsidiaries have been compressed to more than 500.

Global M & Speed

in accordance with the Shanghai State-owned "a retreat into a" policy, Bright Food Group implementation of "exit plan", while also accelerating organic growth within and outside the M & A expansion.

New Zealand last year's acquisition of Bright Dairy Dairy letter together and made the pace of internationalization. The group said the number of wine, dairy, sugar, health food, logistics and other aspects of mergers and acquisitions are also actively promoting the project. Announced in the Jan. 19 acquisition by the China Federation of Association and other organizers of the 2010 Top Ten M & A Award, Guangming Group overseas M & M selected China's top ten events in 2010.

"Group of Global M & A will be bright in the next two years an important means of development, the Group has six core business of the international strategy have been identified, the relevant team system also has been formed." Ge Junjie, vice president of Guangming Group said the choice of acquisition targets, including consideration of standards, whether the strategic policy group, is associated with the main industry, is able to create synergy, and the price and risk factors.

Also revealed that the group is now actively promoting the listing of its sugar assets, is currently doing preparatory work. Guangming Group total 2010 sales expected to exceed 2.1 million tons sugar, sales revenue exceeded 100 billion yuan.

2010, the Guangming Group main business income of 61.8 billion yuan, an increase of 22%; to achieve a total profit of 3.2 billion, an increase of 45%. "Ensure that the main business income in 2011 to achieve 70 billion yuan, 75 billion yuan and strive, by 2012, ensure 800 billion, and strive to achieve 900 billion." Ge Junjie said.