PSE Circular for Brokers No. 2616-98
PSE Circular for Brokers No. 2616-98 • Philippine Stock Exchange • Circulars for Brokers • Nov 19, 1998
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November 19, 1998 PSE CIRCULAR FOR BROKERS NO. 2616-98 November 18, 1998 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Mr . Reynold P . Ong Vice-President Listings and Disclosure Group Gentlemen : We wish to advise you that during its meeting today, the Board of Directors of SSEC, Inc., an approximately 67%-owned subsidiary of Solid Group Inc., approved a resolution to permanently close the operations of its manufacturing plant located at EDSA, Balintawak, Quezon City, effective November 30, 1998, in view of falling demand from its principal customer, Sony Philippines, Inc. The requirements of Sony Philippines, Inc. for the products formerly being produced by SSEC, Inc. will be handled by Solid Laguna Corporation, another subsidiary of Solid Group Inc. which has better and more efficient production facilities. Very truly yours, (SGD.) ROBERTO V. SAN JOSE Corporate Secretary
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