You are here

Shanghai Turbo regains control of factory premises after 5-month impasse

PRECISION engineering group Shanghai Turbo Enterprises on Thursday updated that after the assault incident on a group of people - including its director Raymond Lim and CEO of subsidiary Changzhou 3D Technological Complete Set Equipment Zhang Rong - on Wednesday morning, the local government and police have intervened to eject the group of former employees and their external accomplices from the factory premises on Thursday afternoon.

The assault incident was directly followed by the intervention of the local authorities, using riot police to evict the group of trespassers from the factory premises, it said. Local police have arrested several of them.

From July 2017, the factory premises has been occupied by some of the former management personnel and their associates, and production at the factory had also halted. The new management team of Changzhou 3D had to convene a meeting with the employees to announce plans for compensating those who remained as well as those who chose to leave.

On Thursday, Shanghai Turbo said: "The board is pleased to announce that the impasse, which lasted more than five months, has finally ended. The management of Changzhou 3D is taking stock of the production machinery and inventory, as well as documentary records. Some 50 employees have also returned to their work stations today."

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom