After their discussion, Jiang Hailin and Chang Fuguo reported their plan to Lin Baijie. Their plan was to acquire several factories with solid foundations.
According to the plan the two had drafted together, they intended to acquire a kitchen knife factory, a kitchen cookware factory, an aluminum pressure cooker factory, a rice cooker factory, an iron pipe manufacturing factory, and a comprehensive hardware factory.
In Rongcheng, Lin Baijie reviewed the plan and then reported it to Huang Xiuyuan. Huang naturally had no objections, so he instructed the finance team to review the plan's funding. If there were no issues, they were to put it into action as soon as possible.
The current economic climate was ideal for acquisitions.
The subprime mortgage crisis was affecting both China and the rest of the world, while China's four-trillion-yuan stimulus would not arrive until the end of the year. If they did not take this chance to acquire companies at low prices, they would be letting themselves down.
After discussing it, Huang Xiuyuan and Lin Baijie decided that the six factories to be acquired would be merged into a single subsidiary named Snail Industry.
To avoid managerial chaos within the company, Huang Xiuyuan took the opportunity to begin restructuring and reorganize Suiren Company's various subsidiaries.
The recycling equipment R&D and manufacturing division, which had previously reported directly to headquarters, would have its recycling equipment manufacturing function spun off and merged into Snail Industry.
Blue Era Environmental Group was established, encompassing Shanmei Blue Era, Rongcheng Blue Era, Hui City Blue Era, the various water utilities, Hailu Gas Company, and Hailu Organic Fertilizer.
At the same time, industrial pollution treatment contracting operations and municipal waste recycling plants were transferred from headquarters to Blue Era Environmental Group.
The final subsidiary was Suiren Materials Company, which specialized in