Decision No. 13/1999/QĐ-BCN on the establishment of the Vietnam Wool Company based on the merger of the Bình Lợi Blanket-Wool Weaving Company, the Vĩnh Thịnh Wool Company, the Biên Hòa Wool Company, the Hải Phòng Wool Company, and the Hà Đông Wool Company.

Pursuant to …;

Regarding the establishment of Vietnam Wool Company based on the merger of Binh Loi Blanket-Wool Textile Company, Vinh Thinh Wool Company, Bien Hoa Wool Company,

Hai Phong Wool Company and Ha Dong Wool Company

THE MINISTER OF INDUSTRY

Pursuant to Decree No. 74/CP dated November 1, 1995 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Industry; Pursuant to Decree No. 55/CP dated September 6, 1995 of the Government approving the Charter on organization and operation of Vietnam Textile and Garment Corporation;

Pursuant to Document No. 583/CP-DMDN dated May 28, 1998 of the Prime Minister approving the establishment of Vietnam Wool Company as an independent accounting member enterprise of Vietnam Textile and Garment Corporation based on the merger of Binh Loi Blanket-Wool Textile Company, Vinh Thinh Wool Company, Bien Hoa Wool Company, Hai Phong Wool Company and Ha Dong Wool Company;

Pursuant to Decree No. 50/CP dated August 28, 1996 of the Government on the establishment, restructuring, dissolution, and bankruptcy of state-owned enterprises;

At the proposal of the Chairman of the Board of Directors of Vietnam Textile and Garment Corporation (Proposal No. 247/TT-HĐQT dated March 11, 1999) and the Director of the Department of Organization and Cadres,

To establish Vietnam Wool Company based on the merger of Binh Loi Blanket-Wool Textile Company, Vinh Thinh Wool Company, Bien Hoa Wool Company, Hai Phong Wool Company and Ha Dong Wool Company.

DECISION: 

Article 1Vietnam Wool Company is an independent accounting member enterprise of Vietnam Textile and Garment Corporation, having full legal personality, bank accounts, and seals for transactions in accordance with the law.

Rename the companies: Binh Loi Blanket-Wool Textile Company, Vinh Thinh Wool Company, Bien Hoa Wool Company, Hai Phong Wool Company, Ha Dong Wool Company to factories: Binh Loi Blanket-Wool Textile Factory, Vinh Thinh Wool Factory, Bien Hoa Wool Factory, Hai Phong Wool Factory and Ha Dong Wool Factory.

These factories are dependent accounting units of Vietnam Wool Company, having bank accounts and seals for transactions according to the regulations of the General Director of the Company.

International trade name: Vietnam Blanket-Wool Company, abbreviated as Blatex.

The main office of the Company is located at 237 Le Thanh Ton Street, District 1, Ho Chi Minh City.

Production, business, and import-export of wool (including wool from animal hair, synthetic fibers), products made of wool, garments; raw materials, spare parts, other goods related to wool and garments; operating other businesses as prescribed by law.

Article 2. Business fields:

Business capital of the Company: 95,646,735,636 Vietnamese dong

Of which: - State budget capital: 60,087,700,365 Vietnamese dong

- Self-supplement: 35,559,035,271 Vietnamese dong

The directors of the companies: Binh Loi Blanket-Wool Textile Company, Vinh Thinh Wool Company, Bien Hoa Wool Company, Hai Phong Wool Company, Ha Dong Wool Company are responsible for transferring all assets of their companies to the General Director of Vietnam Wool Company in accordance with state regulations.

Article 3. Vietnam Textile and Garment Corporation is responsible for guiding and directing these units during the merger transition period.

Vietnam Wool Company is responsible for completing all procedures in accordance with the law to ensure the effective operation of the Company as soon as possible.

Article 4. The Chief of the Office of the Ministry, the Inspector General of the Ministry, the Heads of functional Departments, the Heads of specialized management Agencies under the Ministry, the Chairman of the Board of Directors, the General Director of Vietnam Textile and Garment Corporation, the Directors of the companies: Binh Loi Blanket-Wool Textile Company, Vinh Thinh Wool Company, Bien Hoa Wool Company, Hai Phong Wool Company, Ha Dong Wool Company and the General Director of Vietnam Wool Company are responsible for implementing this Decision./.

Article 5. This Decision takes effect from the date of signature.

Article 6- Economic Reform Board,