Decision No. 239/2003/QĐ-BCN On the transfer of the Mechanical Construction Chemical Enterprise under the Construction Chemical Company to the Joint Stock Mechanical Construction Chemical Company

DECISION OF THE MINISTER OF INDUSTRY

Regarding the transfer of the Chemical Construction Installation Mechanical Workshop under the Chemical Construction Company to the Chemical Construction Installation Mechanical Joint Stock Company

Considering the proposal of Vietnam Industrial Construction Corporation (Document No. 1151/CV-ĐMDN dated December 19, 2003), the privatization plan of the Chemical Construction Installation Mechanical Workshop and the verification report of the Enterprise Reform and Development Board of the Ministry on December 23, 2003; 

THE MINISTER OF INDUSTRY

Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Industry;

Pursuant to Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the conversion of state-owned enterprises into joint-stock companies;

Approves the privatization plan of the Chemical Construction Installation Mechanical Workshop under the Chemical Construction Company (an independent accounting member enterprise of Vietnam Industrial Construction Corporation) including the main points as follows:

At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,

DECISION:

Article 1. The charter capital of the joint stock company is 3,500,000,000 VND (Three billion five hundred million VND). Of which:

1. Capital structure:

The actual value of the Chemical Construction Installation Mechanical Workshop under the Chemical Construction Company at the time of December 30, 2003 for privatization (Decision No. 3418/QĐ-TCKT dated December 22, 2003 of the Ministry of Industry) is 20,387,556,172 VND. Among this, the actual value of the State capital portion in the Workshop is 2,293,954,237 VND.

State share: 51.00%;

Shareholding ratio sold to employees of the company: 49.00%.

Value of one share: 100,000 VND.

The total number of preferential shares sold to 210 employees in the Workshop is 10,604 shares with a preferential value of 318,120,000 VND. Among these, the number of preferential shares sold on credit to 21 poor employees is 1,959 shares, valued at 137,130,000 VND.

4. Regarding the privatization costs, retraining of employees, and surplus labor resolution of the enterprise, An Lac Shoe Company will handle the procedures, report to the Ministry of Industry and relevant state authorities for approval according to current regulations.

Regarding the privatization costs, retraining of employees, and resolution of surplus labor in the Workshop, the Chemical Construction Company shall handle the procedures, report to Vietnam Industrial Construction Corporation and relevant state agencies for approval according to current regulations.

Transfer the Chemical Construction Installation Mechanical Workshop under the Chemical Construction Company to the Chemical Construction Installation Mechanical Joint Stock Company,

Article 2. International trade name: CHEMICAL CONSTRUCTION AND INSTALLATION MECHANICAL JOINT STOCK COMPANY;

Abbreviation: CCIM;

Head office: Km 5 Lam San area, So Dau ward, Hong Bang district, Hai Phong city.

Manufacturing mechanical products, non-standard equipment, steel structures, prefabricated building frames, installation of technological equipment, electrical measurement, and automatic control systems;

Article 3. The joint stock company engages in the following business activities:

Constructing industrial and civil works, power transmission lines and substations, telecommunications projects;

Producing and trading construction materials, metal supplies, civilian machinery, and import-export services;

Designing and consulting investment projects;

The Chemical Construction Installation Mechanical Joint Stock Company is a legal entity under Vietnamese law from the date of business registration, independently accounting for economic activities, using its own seal, opening bank accounts according to legal provisions, operating according to the Articles of Association of the joint stock company and the Law on Enterprises.

Engaging in other businesses in accordance with the provisions of the law.

Article 4. Vietnam Industrial Construction Corporation is responsible for directing the Chemical Construction Company to organize the sale of shares and convene the first General Meeting of Shareholders of the Chemical Construction Installation Mechanical Joint Stock Company in accordance with current regulations.

Article 5. The Director and Chief Accountant of the Chemical Construction Company are responsible for managing the operations of the Workshop until the full transfer of capital, assets, labor, and land to the Board of Directors and General Manager of the Chemical Construction Installation Mechanical Joint Stock Company.

The Head of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the Chairman of the Board of Directors, and the General Director of Vietnam Industrial Construction Corporation, the Director of the Chemical Construction Company, and the Chairman of the Board of Directors and the General Manager of the Chemical Construction Installation Mechanical Joint Stock Company are responsible for implementing this Decision./.

Article 6. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

The Head of the Ministry’s Office, the Inspector General of the Ministry, the Heads of Departments, the Directors of Bureaus under the Ministry, the Chairman of the Board of Directors, the General Director of Vietnam National Industrial Construction Corporation, the Directors of Chemical Installation Company, and the Chairmen of the Boards of Directors and Directors of Vietnam Mechanical and Chemical Installation Joint Stock Company are responsible for implementing this Decision./.