Saigon Crystal Enterprise has merged with Thong Nhat Rubber Co. to increase the latter“s capital from 29.8 to 35.8 billion dong, said Nguyen Van Tho, director of Thong Nhat.
“However, Thong Nhat wil…
Saigon Crystal Enterprise has merged with Thong Nhat Rubber Co. to increase the latter“s capital from 29.8 to 35.8 billion dong, said Nguyen Van Tho, director of Thong Nhat. “However, Thong Nhat will not turn out crystal items, as Saigon Crystal stopped production in June 1999 and now has no equipment,” said Tho. Thong Nhat Rubber Co. manufactures export sports shoes and soles and women“s shoes, and technical rubber accessories for oil and mineral exploitation, construction, and automobile manufacturing. Saigon Crystal“s 9,000 square meter premises would be used to expand production, Tho said. The merger is also part of a program to restructure and reorganize State-owned enterprises in HCMC.