| Imperial Date 313-1106 |
| Date 01-47-1106 |
General Shipyards loses MCr382 over Efate closure. Megacorp subsidiary General Shipyards (Efate) made a loss of MCr382 last year because of the huge cost of ending small craft manufacture at its Angel One plant, according to a report by the company. The loss campared with a MCr254 profit in 1103 and was due to a MCr368 provision for re-structuring costs. General Shipyards is ending small craft production at the end of 1st quarter next year. But it said it would avoid compulsory redundancies by moving workers to other sites and offering voluntary pay-offs.
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