Decision No. 196/2006/QD-TTg dated August 29, 2006 of the Prime Minister approving the Scheme on transforming the Vietnam Cement Corporation into one operating after the parent - subsidiary company model

DECISION

APPROVING THE SCHEME ON TRANSFORMING THE VIETNAM CEMENT CORPORATION INTO ONE OPERATING AFTER THE PARENT - SUBSIDIARY COMPANY MODEL

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to Law on State Enterprises dated November 26, 2003;

Pursuant to Law on Enterprises dated November 29, 2005;

Pursuant to Decree No. 153/2004/ND-CP dated August 9, 2004 of the Government on the organization and management of the State corporations and the transformation of the State corporations and independent State companies into ones operating after the parent - subsidiary company model;

At the proposal of the Management Board of the Vietnam Cement Corporation,

DECIDES:

To approve the Scheme on transforming the Vietnam Cement Corporation into one operating after the parent - subsidiary company model as follows:

1. The parent company - Vietnam Cement Corporation:

The parent company - Vietnam Cement Corporation shall be a State-owned company with its legal status and owned seal, the Charter on organization and operation; be allowed to open its account at

The parent company shall be formed on the basis of reorganizing the Office of the Vietnam Cement Corporation and Hoang Thach Cement Company. The parent company shall have responsibility to inherit the legitimate rights and obligations of the Vietnam Cement Corporation according to law provisions.

The management apparatus of the parent company includes: a Management Board, an Inspectorate, a General Director, deputy general directors, a chief accountant and an assistant apparatus.

2. Subsidiary companies include:

a) Companies equitized in 2006-2010 and companies where the parent company holds dominant shares: 10 companies:

- Ha Tien 1 Cement Company (shall be equitized in 2006);

- Da Nang Construction Materials and Assemble Company (shall be equitized in 2006);

- Cement Materials and Technical Company (shall be equitized in 2006);

- Hai Van Cement Company (shall be equitized in 2007);

- Ha Tien 2 Cement Company (shall be equitized in 2008);

- The Cement Import Export Company (shall be equitized in 2008);

- The Cement Investment, Development and Consulting Company (shall be equitized in 2008);

- Hoang Mai Cement Company (shall be equitized in 2009);

- Tam Diep Cement Company (shall be equitized in 2009);

- Hai Phong Cement Company (shall be equitized in 2010).

b) Subsidiary companies, where the parent company holds controlling shares and capital: 12 companies:

- But Son Cement Joint Stock Company;

- Bim Son Cement Joint Stock Company;

- The Materials Transport Cement Joint Stock Company;

- The Cement Gypsum Joint Stock Company;

- Bim Son Cement Packing Joint Stock Company;

- But Son Cement Packing Joint Stock Company;

- Ha Tien Transportation Joint Stock Company;

- Hoa Phat Construction Stone Joint Stock Company;

- Hai Phong Transportation Service and Trading Joint Stock Company;

- Hai Phong Cement Packing Joint Stock Company;

- Hoang Thach Transportation Service and Trading Joint Stock Company;

- Ha Tien – Kien Giang Cement Packing Joint Venture Company;

c) To establish cement mechanical and assembling joint stock companies on the basis of concentration of mechanical and assembling capabilities of the cement companies belong to the Corporation.

3. Associated companies where the parent company contributes under 50% of the charter 8 companies:

- 4 joint venture companies with foreign partners:

+ Hai Phong Chinfon Cement Joint Venture Company;

+ Nghi Son Cement Joint Venture Company;

+ Holcim Vietnam Cement Joint Venture Company;

+ Lafarge Vietnam Concrete Company Limited.

- 4 domestic joint stock companies:

+ Dong Nai Construction Materials and Covering Joint Stock Company;

+ Hoang Thach Cement Packing Joint Stock Company;

+ Ha Tien 2 - Can Tho Cement Joint Stock Company;

+ Song Da 12 Joint Stock Company.

4. Non-business units:

- The Cement Technical College;

- The Cement Training Center;

- The Functions Rehabilitating Center.

5. The supplementation of subsidiary companies, associated companies, non-business units and the Management Board of the Vietnam Cement Corporation shall comply with law. 

Organization of implementation

1. The Minister of Construction shall:

- Direct and monitor the implementation of this Decision.

- Decide on transformation of companies specified in Item a, Point 2, Article 1 of this Decision into joint stock companies in accordance with current stipulations.

2. The Management Board of the Vietnam Cement Corporation shall:

- Submit to the Ministry of Construction the Decision on equitization of companies specified in Item a, Point 2, Article 1 of this Decision.

- Set up a Scheme on the establishment of the Cement Financial Company and submit to the Prime Minister for consideration and approval.

This Decision takes effect 15 days after its publication in CONG BAO.

The ministers of Construction, Finance, Planning and Investment, Labor, War Invalids and Social Affairs, Home Affairs, the Governor of the State Bank of Vietnam, the heads of the concerned agencies, the Steering Committee for Enterprise Renewal and Development and the Management Board of the Vietnam Cement Corporation shall have to implement this Decision.