METATRON CITY SHELVED! METATRON CORP DISBANDED!
Published on 23 June 2017
By Imani Lucim
Of the La Rochelle Times
From La Rochelle.
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The CEO of the Metatron Corporation, Celeste Uataka, announced that the Metatron City project will be cancelled with inmediate effect. The CEO stated that the decision came after a meeting of the Board of Directors and received near-unanimous acceptance.
The Oan electronics giant had announced a project to build a planned city in South Staynes to house the vast majority of its electronics manufacturing projects. The project included the construction of a highway and railway from ths city to Eidenburgh in Xagrurg. Although groundbreaking for the project began on 30 May 2017 and the road and rail route was undergoing construction, both projects were cancelled. Millions of dollars have been spent of the development of the project. The CEO cited the war in Xagrurg as the primary reason for the suspension of the project. She claimed that the political, economic and social strife of the recent coup d’etat, widespread international condemnation thereof and nonviobility of the project caused for the Oan electronics giants to change its strategy and rethink its approach.
The CEO announced that the company would be split into two components. The first would be the legal successor the Metatron Corporation as it currently stands. It will be called Metatron Technologies. It will be responsible for the research and development of electronics and software under the “Metatron” brand. It will simultaneously offer its expertise and resources to develop software and electronics for other companies and organisations. Former head of the Cafe Net brand in Latianburg, Niana Takatunuye, will take over as the CEO, and a new board has already been announced. The chairman will be Prince Takaloanu Ulua, eldest son of the incumbent Defender of the Realm, Ese Ulua.
The second component is called Metatron Industries. Metatron Industries will be responsible for manufacturing the electronics developed by Metatron Technologies. It will also manufacture hardware for other companies. Other electronics companies can outsource their hardware manufacturing to Metatron Industries. The outgoing CEO of the Metatron Corporation, Celeste Uataka will become the CEO of the Metatron Industries. The chairman of the board will be the current CEO of Cafe Net, Etuarti Takatunuye.
CEO’s the new companies alread got the ground rolling, announcing ambitious new projects and goals. Niana Takatunuye announced that Metatron Technologies will be developing software for the Oan military’s weapons and logistics systems a forty year contract worth 30 billion SHD. It will work closely with the arms manufacturing company Oan National Arms Corporation, and with the military divisions of the Oan Aerospace Corporation (which produces aircraft) and the Oan Shipyards Corporation (which produces ships) to develop tech for the two firms.
Celeste Uataka announced that Metatron Industries will build a new 800 million SHD facility in Amber Town near Harmony City that will expand its capacity to produce new hardware. She also announced the planned construction of a new facility in the Asian Pacific Islands worth 1,2 billion SHD. Existing factories will be demolished or leased out as industrial space. The companies plan to create at least 40,000 temporary and 40,000 new jobs in the next year, confident that the peace in the Pacific will make conditions conducive to the realisation of their ambitions.
Shareholders were largely bought out for approximately 80 billion dollars. The Ulua Trust, a holdings firm owned by the Royal Family of the Oan Isles made the massive buy out, receiving 70% ownership of both companies. Standard National Bank retains its share of 30%. The “worker” ownership model is being completely phased out.
Unwieldy and underproductive assets and debts were sold for a record 150 billion dollars primarily to Cafe Net, Oan Telecommunications Corporation and Amalgamated Industries (a company owned mostly by the Uye, and partly by the Uataka families that produces machines and industrial equipment) and Unified Properties (a new property firm owned by the Toaye and Salua families).
The market is currently tenuous due to the announcement, although surprisingly, no major shift in the La Rochelle Stock Exchange has occured, offset by the massive purchase that the Royal Family has made.