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Taiwan Tobacco and Wine Board to be privatized.

Taiwan Economic News

| April 26, 2002 | COPYRIGHT 2001 China Economic News Services. (Hide copyright information)Copyright

Taipei, April 26, 2002 (CENS)--The Legislative Yuan yesterday ratified a proposal to privatize and restructure the state-run Taiwan Tobacco and Wine Board (TTWB) into the Taiwan Tobacco and Wine Corp

Based on the statute governing privatization ratified by the legislature, the TTWB's capital assets and production equipment will be transferred to the newly incorporated entity while the remaining property assets and housing facilities will be returned to the National Property Bureau under the Ministry of Finance

Meanwhile, TTWB employees will not be laid off as a result …

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