Sanlu jobs guaranteed

Source: Xinhua | February 18, 2009, Wednesday |

Print Edition

A PROSPECTIVE bidder for the bankrupt Sanlu Group, a Chinese dairy company at the center of a milk-adulteration scandal, has guaranteed to employ all present staff, the company told an employee congress yesterday.

Employees who had signed contracts with Sanlu will be able to join the new company.

As of the end of 2008, Sanlu had 4,332 active staff, 455 retirees and three employees with industrial injuries.

The Shijiazhuang municipal government has asked any potential bidder to guarantee it will employ all Sanlu staff after an auction of the company's assets, a government official from the Sanlu bankruptcy work team said on condition of anonymity.

That auction is scheduled for March 4 at the Intermediate People's Court of Shijiazhuang, capital of north China's Hebei Province.

Sanlu Group's land-use rights, buildings, machines and equipment will be auctioned off. Assets also include Sanlu Group's investment rights and interests in three other dairy companies.

The court declared the company bankrupt last Thursday.

Beijing-based dairy company Sanyuan has confirmed that Sanyuan Group, through subsidiary Hebei Sanyuan, will bid in the auction.

Executives from Sanyuan were present at the employee congress yesterday.

Nation

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Sanlu jobs guaranteed

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