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恆豐紙業加碼西南市場,擬收購錦豐紙業突破產能瓶頸

4月25日,恆豐紙業(600356)披露資產收購草案,計劃通過發行股份收購四川錦豐紙業股份有限公司100%股權。根據公告,錦豐紙業擁有國內領先的特種紙生產線,並逐步通過技術改造或新建產線方式佈局生產高透成形紙、無鋁襯紙等特種紙。

此次收購將能緩解恆豐紙業的長期產能高負荷運轉情況。恆豐紙業2023年總體產能利用率已超95%,同時受地理位置限制,西南地區市場運營成本較高。收購錦豐紙業後,恆豐紙業將能快速突破產能瓶頸。此外,錦豐紙業距離雲南中煙、四川中煙等國內排名靠前的幾大中煙公司較近,可以有效解決恆豐紙業西南地區客戶運輸距離過長導致的成本劣勢的問題。

收購錦豐紙業也將有助於恆豐紙業緊跟國際菸草發展趨勢,提升國際業務市場份額。錦豐紙業規劃建設的無鋁襯紙新品生產線是國際市場需求較大的產品線,而且恆豐紙業國際大客戶基於供應鏈安全考慮,避免自然災害等不可抗力影響產品正常供貨,要求主要供應商需在多個區域佈局生產線,以加強供應商抗風險能力、保障生產經營穩定。本次收購完成後,恆豐紙業能快速滿足國際大客戶的該項要求,同時能很好滿足國際大客戶的產品需求,進一步增加對國際客戶的銷售,加速恆豐紙業的國際市場佈局。

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