2018-03-20
On March 20th, the signing ceremony for acquisition of Shandong Jianda Construction Group Co., Ltd by Shandong Water Conservancy Construction Group Co., Ltd. (SDWP) was successfully held in the conference room of SDWP.
Shandong Water Construction Group, strictly following the merger and acquisition procedures, conducted preparatory work through due diligence, auditing, evaluation, preparation of feasibility study reports, and SASAC expert review process, and finally reported to the general manager office of Shuifa Group and the board of directors for approval. Based on the principles of equality and free will, mutual benefit, and win-win cooperation, the two parties reached a consensus on the related issues in accordance with the ¡°Company Law of the People¡¯s Republic of China¡±, the ¡°Contract Law of the People's Republic of China¡± and other laws and regulations, and formally executed the contract of merger at 3:45 pm, this conglomerate merger lasted six months.
Shandong Jianda Group has qualifications for the general contracting of architectural engineering construction and qualifications for building decoration engineering, with a relatively stable market share in Jinan City and Heze City. It has undertaken the construction of a large number of high-quality building engineering projects, accumulated rich building construction experience, and established a good social reputation.
Since its inception, Shandong Water Construction Group has been focusing on the water conservancy as its main business, and implementing the development strategy of ¡°conglomeration, diversification, capitalization, and internationalization¡±. As a state-owned enterprise, it has absolute advantages over private enterprises in terms of financial support, equipment supply, and anti-risk capabilities, capable of increasing resource use efficiency and output efficiency through merger and acquisition of the target company, thereby realizing optimal resource allocation and achieving resource sharing and association between strong enterprises.
That Shandong Water Construction Group successfully acquired Shandong Jianda Group will expand its business scope and operation scale and extend its industrial chain, which shows that the diversification strategy has taken a substantial step, adding new strength to the steady and rapid development of the Group.
