Chantier Naval de N'Dolo - Chanado S.C.A.R.L.
Constitution
The Société Chantier Naval de N'Dolo "Chanado", was incorporated on October 11, 1927, with a capital of 10 million francs represented by 100,000 shares with a capital of 100 francs. The registered office was established in Leopoldville and its administrative headquarters in Antwerp.
Of the 100,000 shares, 14,580 fully paid-up shares were allotted to the contributor below, the remaining 85,420 shares were subscribed for in cash by:
The Société Commerciale du Centre Africain "SOCCA", 30,000 shares ; the Banque des Colonies, 8,960 shares; the Crédit Colonial et Commercial "anc. L. and W. Van de Velde, 8,960 shares; Messrs. Joseph Muylle for him and a group, 4,250 shares; Baron Edmond Kervyn for him and a group, 5,000 shares; Joseph Schramme for him and a group, 3,250 shares; Charles Valckenaere for him and a group, 6,250 shares; Louis Valckenaere for him and a group, 6,250 shares; Georges Valckenaere for him and a group, 10,000 shares; Bernard van den Berkhof van Kockengen, 2,500 shares.
A first payment of 20% was made and a sum of 2,135,500 was made available to the Company (12-(05-06/12/1927)-14275).
34,168 shares were sold by public subscription at a price of BEF 140 per share from March 12 to 29, 1928. 20,000 shares were reserved for holders of shares in the capital stock of the Société Commerciale du Centre Africain "Socca" on an irreducible basis at the rate of 1 Chanado share for 3 shares of BEF 500, or by 15 shares of 100 Socca shares, and also on a reducible basis. The remaining 14,168 shares were subscribed by the public on a reducible basis (21-(1929 T1)-643).
Contribution(s)
Mr. Pierre Verbeek, an industrialist in Kinshasa, contributed to the present company:
1°) An industrial land located in the urban district of Leopoldville, at the place called "Kinshasa" against the avenue Colonel Thys.
2°) Various buildings and constructions on the land under n° 1 including a large dwelling house with all the furniture and a garage. The above-mentioned dwelling house was built in brick and cement, as well as the garage.
3°) A shipyard installation, such as a connection to the Colony's railway, a Decauville track with two wagons, rails, two trolleys for slipwayThe slipway with a rail is intended to be launched or towed dry for the purpose of repair, steel cable, clopp generator, steam engine as well as a Delage motor car, etc.
4°) All the rights that the contributor owns on the above land.
5°) All the rights that the contributor could assert on a strip of land lying within a width of 20 meters over the entire length that the above-mentioned leasehold land occupies along the banks of the Congo River.
6) For the benefit of its customers and business relations, as well as its studies and organizational work.
In remuneration of the above contributions, Mr. Pierre Verbeeck was granted 14,580 fully paid-up shares of 100 francs each (12-(05-06/12/1927)-14275).
First Board of Directors
For the first time, the number of directors was set at nine:
Messrs. Pierre Verbeek, Armand Bailly, Joseph Muylle, Baron Edmond Kervyn, Henri Mayer, Georges Van de Velde, Charles Valcheneare, Louis Valckenaere, Georges Valckenaere (12-(05-06/12/1927)-14275).
Object
For itself, on behalf of third parties, individuals, States, either by itself, or through third parties, or jointly, the operation in Africa and especially in Leopoldville-Est, in the town of N'Dolo, of a shipyard, and the construction, repair, purchase and sale of boats, river equipment and accessories; it could carry out all operations within the widest limits directly or indirectly related to the achievement of its object (12-(05-06/12/1927)-14275).
Changes in capital, event(s), shareholding(s), dividend(s), quotation, etc.
Chanado, a Socca subsidiary, took over and operated a ship repair yard in Leopoldville-N'Dolo, which was completed with facilities that enabled the company to cope with the growing development of river navigation in Congo. The slip works were nearing completion. There were twelve 128-metre-long parallel lanes on which six trolleys were maneuvered, operated mechanically by a 67 HP electric motor or manually, to load the boats to be brought from the shore to the shipyard for hull overhaul and major repairs. The slip was able to dry out the largest river units in the Congo in a minimum of time.
Workshops and steel structures, with brick walls, were installed near the top of the slips. They included workshops for mechanics, boiler making, forging, carpentry, stores, etc., and covered an area of 600 square meters. They were served by a railway line and the use of overhead travelling cranes was planned.
In addition to the activity devoted to the creation of the construction site, the company also undertook some commercial activity. It carried out various ship assembly and repair works, reassembling the 500-tonne Africa sternwheelerA paddle-wheel boat is a type of boat that uses one or more paddle wheels for its propulsion. and its two barges of over 400 tonnes and then the passenger sternwheeler Alphonse Fondère, commissioned by the John Cockerill company. During this first financial year, the company acquired an interest in Société des Ateliers et Chaudronnerie J. Mathyssens, which specializes in the construction of certain types of river units, including the Chanado, which was called upon to reassemble in the Congo (21-(1929 T3)-643).
In view of the size of the deficit balance sheet, the EGM of May 1, 1934 had to decide on a proposal to liquidate the Company and decided not to dissolve it.
As a result of the law of October 17, 1945, establishing a tax on capital, 5,000 registered capital shares were created in favor of the State, without any change in capital.
On June 7, 1957, the EGM decided to change the representation of the capital to 10,500 wdvwithout designation of nominal value shares, the exchange took place on February 24, 1958 on the basis of one share for 10 capital shares of 100 francs, the same meeting decided to change the company's name to Coloval (12-(18-19/11/1957)-28830).
The company operated its installations, rented part of its facilities in ChanicChantier Naval et Industriel du Congo for a few years and made some investments, the last of which, in 1957, was a palm oil mill in Bokolongo (Province of Ecuador) which was to be operational in 1958 and brought back in 1959 but unfortunately remained on standby due to the state of the roads preventing the supply of its factory, rolling stock and spare parts (21-(1963 T3)-2116). Congo Shipyard and Industrial Shipyard
In 1960, in accordance with the law of June 17, 1960, the company decided to make a contribution to one or more companies under Congolese law to be created, of all or part of the company's branches of activity on the territory of Congo and of assets necessary for the operation of its activities 12(08/07/1960)-20267).
In 1961, following the law of June 17, 1960, the company adopted the status of limited company under Belgian law (12-(06/01/1962)-493).
Apart from the first two financial years and a few profit-making years, it recorded losses, reaching a loss of more than 3 million francs in 1960 (21-(1963 T3)-2116).
Dissolution and liquidation
On June 7, 1974, the EGM decided to dissolve the Company early and liquidate it. Liquidation was completed on December 23, 1975; shareholders were invited to exchange their shares for the sum of BEF 362 per Coloval share (21-(1975 T2)-1185).