Decision No. 84/2004/QD-BCN on the transformation of Quang Trung Mechanical Company into Quang Trung Mechanical State-owned Joint Stock Company with One Member

DECISION

Regarding the transformation of Quang Trung Mechanical Company into Quang Trung Mechanical Joint Stock Company with State Capital

Nhà máy Cơ khí Quang Trung - Công ty trách nhiệm hữu hạn một thành viên nhà nước

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. 63/2001/ND-CP dated September 14, 2001 of the Government on the conversion of state-owned enterprises and enterprises of political organizations and socio-political organizations into joint stock companies with one member;

Pursuant to Decision No. 125/QD-TTg dated January 28, 2003 of the Prime Minister approving the overall plan for restructuring and modernizing state-owned corporations and state-owned enterprises under the Ministry of Industry for the period 2003-2005;

Considering the proposals of Vietnam Machinery and Industrial Equipment Corporation (Letters No. 669/CV-HĐQT dated July 20, 2004, No. 768/CV-HĐQT dated August 18, 2004, No. 805/CV-HĐQT dated August 30, 2004) and the dossier on the transformation of Quang Trung Mechanical Company into Quang Trung Mechanical Joint Stock Company with State Capital;

At the suggestion of the Enterprise Reform and Development Board under the Ministry and the Director of the Personnel and Organization Department,

DECISION:

Article 1. Transform Quang Trung Mechanical Company, an independent accounting unit under Vietnam Machinery and Industrial Equipment Corporation, into Quang Trung Mechanical Joint Stock Company with State Capital.

Quang Trung Mechanical Joint Stock Company with State Capital (referred to as the Company) shall have its own seal, be allowed to open accounts at domestic and foreign banks in accordance with the law, and operate in accordance with the Company's Charter and the Enterprise Law.

- Full name: Quang Trung Mechanical Joint Stock Company with State Capital.

- Abbreviation: Quang Trung Mechanical Company;

International trade name in English: QUANGTRUNG MECHANICAL ENGINEERING LIMITED COMPANY.

- Abbreviation: QTMEC Ltd.

- Head office located at: 360 Giải Phóng Street, Thanh Xuân District, Hanoi City

- Registered capital of the Company: 12,251,990,000 VND,

(Twelve billion two hundred fifty-one million nine hundred ninety thousand VND)

Article 2. Business activities of the Company:

- Design, manufacture, repair, installation, and technology transfer of paper and pulp production lines with capacity up to 5,000 tons/year; various types of boilers with capacity up to 20 tons/hour, pressure up to 30 KG/cm2; various types of pressure vessels with volume up to 250 m3, pressure up to 60 KG/cm2.

- Manufacture of steel structures, workshops, non-standard structures, crane assembly and installation, synchronous equipment, spare parts serving the industry.

- Ultrasonic and X-ray inspection of pressure equipment.

- Production of packaging paper, corrugated cardboard, welded steel pipes, construction steel.

- Import and export of equipment materials, machinery, mechanical spare parts.

- Warehousing and office business services.

- Other businesses as prescribed by law.

Article 3. Organization and operation of the Company:

1. The organizational structure of the Company includes:

a) Chairman of the Company;

2. The organization and operation of the Company are specifically regulated in the Company's Charter.

c) Subordinate units of the Company.

2. The organization and operation of the Company are specifically regulated in the Company's Charter on organization and operation.

Article 4. The State-authorized representative as the owner:

Board of Directors of Vietnam Machinery and Equipment Corporation, address: No. 2 Trieu Quoc Dat Street, Hoan Kiem District, Hanoi City.

The Board of Directors of Vietnam Machinery and Industrial Equipment Corporation shall be responsible for exercising the rights of the owner of the capital according to Decree No. 63/2001/ND-CP dated September 14, 2001 of the Government and the Company's Charter.

Article 5. Quang Trung Mechanical Joint Stock Company with State Capital shall be responsible for receiving and using effectively the capital and assets transferred by the Board of Directors of Vietnam Machinery and Industrial Equipment Corporation to fulfill the mission of developing production and business; inheriting all lawful rights, interests, and obligations regarding capital, assets, labor, land of Quang Trung Mechanical Company.

Article 6. The Chairman of Quang Trung Mechanical Joint Stock Company with State Capital shall be responsible for drafting the Charter of organization and operation of the Company to submit to the approval of the Board of Directors of Vietnam Machinery and Industrial Equipment Corporation; appointing the General Director, Deputy General Directors, Chief Accountant of the Company in accordance with the Company's Charter and current laws.

Article 7. 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, Heads of Departments and Bureaus under the Ministry, the Chairman of the Board of Directors and the General Director of Vietnam Machinery and Industrial Equipment Corporation, the General Director of Quang Trung Mechanical Company, the Chairman and General Director of Quang Trung Mechanical Joint Stock Company with State Capital are responsible for implementing this Decision./.