The Research And Evaluation Of Hejian Chemical Fertilizer Plant's Bankruptcy And Reform

Hejian Chemical Fertilizer Plant was set up in 1970. it's a small nitrogenous fertilizer company which produces carbamide and had given important contribution to local and Hebei province's economy. Since the reform and opening up, the company was encumbered by it's old operating mechanism and met great difficulty in marketing competition. There was overabundance debts which made the company unable to go forward. in 2002, Hejian Shengda Chemical Technoloy Corporation was established upon the old company through reformation. But the new corporation had also gone to the difficult environment for the halfway reformation. In order to save the insolvent company, Hebei Construction Investment Corporation performed and accomplished the bankruptcy and reform on Hejian Chemical Fertilizer Plant and Hejian Shengda Chemical Technoloy Corporation and Hejian Yingzhou Chemical Corporation was set up two years after.This bankruptcy and reform was a complicated capital operation in essence, which includs complex connection, difficulty in planning, long duration, and was typical in company reformation in China, so i choose this case as research object in this article. I has gone to the company many times and interviewed with most of the participants in order to clearly understand the progress. To show the bankruptcy and reform more clearly, the article divides the progess into four parts: prophase work, plan decision, plan perform and the managment in the whole progess. In order to analyze the result of the bankruptcy and reform, the article set 2006-9-30 as the benchmark date, and compares the production and operation benefit fore-and-aft. Through those analyses, the article goes to the conclusion that the bankruptcy and reform is successful as a whole, the original intention has been turned into reality, the plan is performed in stabilization and the benefit of the company has been improved highly after the bankruptcy and reform.The article concludes seven chapters. The first chapter is the guide of the paper, the background , the problem to be discussed and the method of the research are introduced in it. The second chapter analyzes the prophase work, plan decision, plan perform and the managment in the whole progess. The evaluation of the performance of the bankruptcy and reform is the third chapter. The forth chapter is the evaluation of the direct achievement and the fifth chapter is the evaluation of the sustainability. The impact of the bankruptcy and reform is analyzed in sixth chapter. The seventh chapter is the conclusion and the revelation.