Thursday, February 14, 2008

Premier confirms defense company establishment

Taipei, Feb. 14 (CNA) Premier Chang Chun-hsiung confirmed Thursday that a defense company has been established with investment from various government agencies and state-owned corporations, but stressed that it was a private company.

Chang confirmed a local newspaper report about the company named "Taiwan Goal" on the sidelines of a Lunar New Year meeting with China-based Taiwanese business people, but did not elaborate on the company's objectives.

The Chinese-language China Times reported Thursday that Taiwan Goal, charged with integrating local and international military equipment manufacturers and various military services, has been established and that Wu Nai-jen has been named as president.

Also on Thursday, National Defense Minister Lee Tien-yu said that an investment of 45 percent of the initial Taiwan Goal's capital came from the Ministry of National Defense (MND), adding that the MND will hold a press conference Friday to elaborate on the functions of the company.

Wu Nai-jen said in a statement issued Thursday that Taiwan Goal was established as a platform to integrate international military equipment suppliers and competent local companies to work on military system maintenance and components manufacture.

Wu said he took the role as a voluntary president without compensation, adding that he will resign after the next president is inaugurated May 20. He went on to say that Taiwan Goal will not be able to sign any contracts before May 20.