Skier1..16 Jan 2015 08:32
Hi there skier, its not a factory dispute, they have to relocate due to the new passenger rail link to Beijing being built right through the ind estate..they have said a compensation package 'agreeable to both parties' will be concluded..the hold up is the proposed site for the new factory is tech based & deemed not suitable for industrial companies like SORB..the rethink is to link the new factory with the existing plant in Linyi city..
June 2013 RNS
As detailed in the announcement issued on 23 April 2013, the Board has been working towards finalising the details of the compensation package in relation to the Company's manufacturing facility in Ulanqab City, Inner Mongolia. The Company has subsequently been approached by local authorities in Linyi City with regards to a new, possibly more beneficial opportunity relating to the relocation of the Company's existing original facility in Linyi City, Shandong Province. In light of this approach, the Board has decided to await further detailed information on the new potential Linyi City compensation package that would be offered to the Company prior to concluding on the negotiations relating to the Inner Mongolia compensation package. The Board is keen to act in the best interests of its shareholders and, it will need to review this new opportunity fully prior to making a further update to the market.