Yuanda Group Reverses Money-Loosing to Profit-Making in Hengshui ¡¡¡¡Yuanda Group in Hengshui County, Hebei Province dismantled 20000 outdated spindles and laid off 1505 staff and workers last year. ¡¡¡¡However, this move has saved funds to the tune of 48 million yuan, slashed spending and wages, optimized deployment of money, manpower and materials, cut output of sluggish products, increased added value and beefed up bullish polyester output. As a result, money-loosing has been reversed, profit has been made and the laid-off staff and workers have been shifted to other jobs. Economicnews 1999-02-24 Page2 Full Story in Chinese