Gomel Bearing Plant for Sale, Production Slashed
Resource from: CBCC Likes:2956
Jul 21,2009
The Gomel Bearing Plant (Gomel Oblast, Republic of Belarus, a joint stock company), like a number of other CIS bearing manufacturers, has had to cut its working hours and move to shorter workweeks due to slumping demand across all of its product lines. Reportedly, no layoffs have been implemented, however.
Gomel manufactures bearing balls and a variety of finished ball bearings for other bearing manufacturers and other manufacturing businesses, primarily in Belarus and the CIS region.
Although it is listed as a joint stock company, Gomel Bearing is 97% state-owned by the Republic of Belarus and run by the Industry Ministry.
Until January 1, 2009, there had been severe restrictions on selling these state-owned entities, even though they had been converted to joint stock companies.
But Gomel Bearing Plant is now one of 147 smaller, second-tier joint stock companies targeted for sale and true privatization sometime by the end of 2010. The State Property Fund of the State Property Committee plans to sell its entire 97% stake in the company, but has not formally targeted a price range or given many details about requirements an acquirer must meet. Frequently, attempts to privatize state-run manufacturing businesses have been hobbled by onerous acquisition terms, massive legacy costs and restrictive operating conditions.
Founded in 1938, Gomel Bearing has long been considered by many to be an unsalvageable mess. Even under more forgiving auspices as a state-run enterprise, management has been severely criticized for running the plant far below capacity or potential capacity for no good reason, not caring if orders are filled, and focusing only on the easiest production items. Workers have also been criticized for the same failings. The plant has also been faulted for failing to implement even rudimentary inventory and/or manufacturing controls.
Gomel Bearing Plant is in Gomel Oblast, the eastern part of Belarus, not far from the country's borders with Russia and Ukraine.
()
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
