Constructions Navals et Exploitations Forestières du Bas-Congo - Conexifor S.C.R.L.
Constitution
On September 12, 1928, the S.C.R.L. Constructions Navals et Exploitations Forestières du Bas-Congo, abbreviated to « Conexifor » was founded . The head office was established in Léopoldville, the administrative headquarters in Brussels.
The share capital was 15 million and was represented by 60,000 shares with no nominal value. Of the 60,000 shares, 24,000 shares were allocated to Compagnie Industrielle Africaine for the contributions described below.
The remaining 36,000 shares were subscribed for by:
The 36,000 shares were paid up by 20% and a sum of 1,800,000 francs was made available to the new company.
Contributions
The Compagnie Industrielle Africaine contributed to the Company its industrial installations from N'Dolo to Leopoldville, including a piece of land in N'Dolo, buildings, equipment and tools, furniture and miscellaneous, hardware, sawmill wood, manufactured furniture.
In consideration for these contributions, 24,000 fully paid-up shares and a cash sum of FF 366,060.81- were remitted to Compagnie Industrielle Africaine.
Object
Its object was, on its own account or on behalf of third parties, whether individuals, States or companies, either by itself or through third parties, or jointly or in participation or in some other form: (a) the operation of shipyards; (b) the production, processing and trade of indigenous or imported timber; (c) the import and export of timber in logs and wrought products, especially to the Belgian Congo and neighboring colonies; it could extend the sphere of its operations to other countries. It could carry out all operations relating directly or indirectly to its object and, in general, all operations involving movable or immovable property, commercial, civil, financial, agricultural, industrial, mining or maritime property, as well as all public or private works or supply undertakings likely to promote or develop its industry and trade.
It could take any direct or indirect shareholding in any operation whatsoever that may be related to one or other specified purpose or likely to promote its realization or development through the creation of new Congolese, Belgian or foreign companies, contributions, subscriptions or purchases of securities, shares or company rights, mergers, associations or shareholdings, guarantee syndicates or otherwise.
The object of the Company could be modified, without however altering its essence, by a decision taken in a General Meeting deliberating under the conditions provided for in Article 37 of the Articles of Association (30-(1928)-1760 to 1783).
Information
Following its incorporation, the Company acquired a shipyard adjacent to its industrial facilities.
As for the logging concessions, sawmill and workshop for mechanical woodworking, the monthly turnover reached nearly 1 million per month on the day of the transfer by the Compagnie Industrielle Africaine (21-1929 T3)-660).
Absorption merger
On July 5, 1929, the Company was liquidated for merger with Société Commerciale et Minière du Congo, by exchange of 60,000 Conexifor shares for 25,000 Cominière shares (21-(1929 T3)-660). The liquidation was closed on February 9, 1931 (21-(1931 T2)-1757).
The exchange of shares took place from February 15, 1930 on the basis of 12 Conexifor shares for 5 shares of Société Commerciale et Minière du Congo "Cominiere" (21-(1930 T3)-503).
The Société Commerciale et Minière de L'Uélé (Comuélé), a subsidiary of Cominière, took over all of Cominière's industrial activity and took over ownership of the facilities of Conexifor , which owned major construction sites in Léopoldville in the city's commercial district and on the banks of the river, as well as a factory for cutting and woodworking. This operation allowed it to have its own fleet to ensure the link between Leopoldville and its Uélé facilities (21-(1930 T1)-1206).