| Author: | Yatsko, P. |
| Title: | Urge to merge |
| Journal: | Far Eastern Economic Review
1996 : MAY 23, VOL. 159:21, p. 56-59 |
| Index terms: | ECONOMICS CHINA MERGERS |
| Language: | eng |
| Abstract: | China pins hopes on mergers to save state firms. Three years ago, Baida was hardly the type of company you would want to bring home to meet your accountant. The state-owned Shanghai knitwear factory hadn't shown a profit for 10 years, its sales were paltry, and its debts twice the size of its assets. For Su Shounan, though, Baida was a perfect match. Su has merged baida and five other failing state-owned garment companies and did it without laying off workers. "I saw opportunity in crisis", 58-year-old Su explains. |
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