History of Electric Induction Heating

Starting Over

By James Farol Metcalf

Vera's Letter to Allcarb

To: Chairman of the Joint Venture, Allcarb.
Date: 6 March 1990

The Board of directors of BEPA has ratified the contract and charter signed in Zaporozhye on 2 March 1990 by yourself and James F Metcalf. Sealed signatures for those documents will be mailed today.

BEPA will arrange its affairs and accounts to become inactive by the time the JVC has been registered with the Minister of Finance. This will allow us to work full time for the JVC activity.

A temporary holding unit under the name of the JVC will be formed to accumulate useful assets and cash for transfer in accordance with the provisions of the contract and charter.

This temporary holding unit may become the USA branch activity if approved by the General Director and the Board at some later date.

In addition, as director of Allcarb, I approve the actions of the meeting of the JVC Board on March 2, 1990 which selected its Chairman and the General and Deputy Director.

Vera K Metcalf
Secretary of BEPA
Director Allcarb