UDL Argos wins short reprieve

UDL Argos Engineering & Heavy Industries has been given three weeks' grace to devise a scheme to pay off creditors. The company is the subject of a winding-up petition and was granted a three-week adjournment at the Court of First Instance yesterday. UDL Argos laid off 520 workers in November 1996 as a result of completing 50 per cent of construction work for China Light and Power (CLP). The company was the contractor for CLP's Black Point Power Station near Tuen Mun.