Abstract:

The acquisition and anti-acquisition are surging with the developing globalization. In the April of 2007, the CHALCO （Aluminum Corporation of China Limited） as the leader in alumina industry acquired Shandong Alumina and Lanzhou Alumina and successfully was listed in Hongkong, Shanghai and Shenzhen stock exchanges. This kind of acquisition not only embodies the integration as the strategy, but also provides a bigger space for future growth. This paper, aiming at CHALCO’s advantages and disadvantages after acquisition, presents some strategies for CHALCO’s development in the future.

Key words:

acquisition and consolidation; competition; alumina industry; China

摘要：

随着经济全球化的日益发展，国内市场不断掀起收购与反收购的热潮。2007年4月，中国铝业公司作为铝行业的龙头老大，通过换股方式先后吸并山东铝业和兰州铝业，成功实现三地上市。中国铝业这一大的并购举措不仅完善了其一体化的发展战略，更为其进一步发展提供了更大的空间。本文旨在从并购后的中国铝业所具有的优势，以及仍然存在的问题出发，对其作出简要分析及建议。

关键词: 并购整合；行业竞争；铝工业；中国