On August 1, Hengfeng Stainless Steel formally absorbed and merged the old stainless steel company-Foshan Jiye Stainless Steel Products Co., Ltd., and established "Xin Hengfeng Stainless Steel Products", which means that another large stainless steel welded pipe enterprise in Foshan was officially born. The annual output of stainless steel pipes will reach more than 100,000 tons, which is tantamount to another giant of stainless steel decorative pipes.
After the strong alliance, Xin Hengfeng invested more than 20 million yuan to introduce 950 calenders, increasing the number of pipe-making machines from 55 to 86, and operating 2 shifts. In addition, the two major brand companies will gradually establish a new management system of unified research and development, unified sales and unified procurement through integration, fully exploit synergies, and fully optimize resource allocation. The two parties will deeply explore synergies in key products, technology research and development, sales network, market layout, procurement management, logistics distribution, after-sales service, brand enhancement, etc., and coordinate the integration of different production bases and different production lines to speed up the elimination and closure. Stop some low-efficiency and ineffective production capacity, concentrate resources on the development and application of cutting-edge technologies, further improve the technological research and development capabilities of strategic products, and gradually form a large-scale integrated stainless steel pipe manufacturing enterprise based on technological research and development advantages.
