Guoyu Shipbuilding looks to resume operations after settling with workers
Financially troubled Yangzhou Guoyu Shipbuilding has reached a settlement agreement with the representative of its employees on salary payment terms, with the involvement of the local government.
At the end of July, a number of workers from the yard protested against the shipyard at Yizheng local government after the company broke an agreement on salary payments made after an earlier protest in January.
Guoyu has promised to pay the salaries and compensation to employees in several payments spread over the next two years, which will be supervised by the local government.
The shipyard said it is now making efforts to resume operations and is in talks with the local government and financial institutes for financial support.