 2009-12-05 |
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Reported by Taipei Times
ACHEM (1715), constrained by its scattered shareholding, has been embroiled in ongoing management disputes. On December 4, with support from regulatory authorities, YC (4306), which increased its stake to a majority, officially took over. The newly appointed chairman of the board from YC, Liao Cheng-Ching, stated that he would file a lawsuit next week against former ACHEM board members, including Li Guang-Hong, for allegedly using improper means to mortgage properties, which may involve the hollowing out of the company's assets.
Yesterday morning, accompanied by lawyers and over ten security personnel, Liao Cheng-Ching went to ACHEM's headquarters. There, he faced a standoff with security personnel from the previous management for two hours, with tensions running high. To prevent any incidents, police were deployed in force around the area. Eventually, employees opened the door, allowing the new chairman Liao Cheng-Ching and his lawyers to enter the chairman's office and successfully assume control.
Liao Cheng-Ching noted that ACHEM has excellent employees and product development capabilities, and its quality is highly regarded in the market. Representing its parent company, YC, in taking over ACHEM is expected to create a synergistic effect where one plus one is greater than two. In addition to expanding distribution channels and creating higher profits, he aims to make ACHEM the largest tape manufacturer in the world within the next two years.
(Source: Commercial Times – Reporter Peng Hsuan-Yi, Taipei) |
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