Profitability of the top ten of the central enterprises in the international financial crisis become a big loss, two years after the successful turnaround
Al, why can quickly out of the crisis
Recently, Italy and Spain sovereign credit rating was lowered, the problem grows more developed countries, government debt, collective end of September, commodity prices dive. The world economy "double dip" the risk of a sudden in 2008 the international financial crisis struck in the memory as yesterday.
Second half of 2008, by the international financial crisis, the decline in aluminum prices avalanche occurs, the biggest decline in more than 80%glue stick Aluminum Corporation of 2008 and 2009 years of losses of hundreds of billion yuan. However, only two years later, the aluminum to achieve a reversal, a profit of 2.696 billion yuan in 2010, not only that, in 2011, the aluminum in the world top 500 list, ranked No. 330, and enter the first World Mining Group camp. Between two short years, from the "high dive" to the "magnificent turn," Why aluminum?
Crisis and other issues focused on the outbreak of institutional mechanisms
In 2009, glue gun stepped in the aluminum companies face is managing Xiong, except 2008, nearly $ 7 billion loss, but in January 2009 and a loss of $ 1.8 billion.
Aluminum non-monopoly, competition would have been intense. The international financial crisis fell aluminum, aluminum overcapacity in the industry itself, of course, are the cause of structural imbalance, but there was still a loss of domestic fewer or no loss of aluminum, many of whom are private enterprises. Xiong and leadership in the aluminum companies together, cast aside, to private enterprise "on the mark." A look to know, in the management level of aluminum in some companies up to five, while private enterprises only 2-3. The same aluminum production capacity, only 1,000 private enterprises, but with 11,000 people in the aluminum, only Kejiyishang 1,000 cadres. Xiong realize that "serious difficulties encountered in aluminum, is fundamentally not a financial crisis, nor is it to bring industry and competitors, but its institutional mechanisms and structural issues focus on the outbreak."
The next year and a half, the aluminum company launched the "compression management positions, compression management" double compression, management-level compression of the 1-2, Division level cadres reduced to 7800 from more than 13,000 people, 4500 cadres out of the management positions. The aluminum division in Shanxi Province, leaving only 2,000 people, is the original staff of the 1 / 8, to maintain existing production capacity, the remaining 14,000 by the export of labor services, such as placement of secondary industry restructuring, not only improves the production efficiency, but also taking into account the social stability.
Reform, although accompanied by a huge pain, but also pregnant with new life, to August 2009, a month in the aluminum companies to achieve profitability. The end of 2010, the actual cost of aluminum nearly billion. Xiong admitted: "If not the financial crisis, a series of reforms, adjustment, probably not so easy when faced with life and death, as long as is in order to survive, we will support."
Profitability of energy saving as an important support
Aluminum has been criticized the most is in the process of production and processing of high energy consumption. Particularly in response to the international financial crisis, energy, efficient use of resources to achieve profitability becomes more important. To this end, 0.4 million tons of Shanxi Branch stopped the relatively high sintering energy production, the remaining 180 tons of production line using an innovative hybrid method, the cost per ton of aluminum fell by nearly hundred dollars.
2009 to 2010, the aluminum company in the case of severe financial stress, is still invested about 300 million, mainly to carry out energy saving technology development and application, the first in the industry, eliminate backward technology to increase the degree of production capacity, close 29 tons of electrolytic aluminum small pre-baked anode, out of 230,000 tons of high energy consumption and 116,800 tons of alumina production line copper smelting production line.