Gupta-linked assets sold

Machinery worth millions auctioned to the public as retrenched staff look on

RETRENCHED employees of the Gupta-owned VR Laser Services watched with sadness as machines they used over many years to build armoured vehicles for banks, Denel and the police went under the hammer.

Hundreds of businessmen descended on VR Laser’s premises in Boksburg, east of Joburg, yesterday to buy the troubled company’s goods.

The auction saw the businessmen slugging it out to buy items including plant machinery, vehicles and office furniture at reduced prices.

One crane fetched R1.75 million, while it was believed to be valued at more than R4m. A Mercedes Benz truck was sold for R260000.

A businessman got a Ford Ranger bakkie at R80000, while a 2010 Kia bakkie was auctioned at R57500.

The auction went ahead on the orders of business rescue practitioners Louis Klopper and Robert Knoop.

Klopper and Knoop were brought on board by the controversial Guptas after VR Laser lost its bank account. Commercial banks closed the accounts of all companies owned by the controversial family.

After some months of trying to rescue VR Laser, Klopper and Knoop decided to liquidate the company and sell its assets. They are hoping to gather more than the R347m that VR Laser owes to creditors.

Attempts by the National Union of Metalworkers of SA (Numsa) to block the auction failed earlier this week.

Judge Selemeng Mokose ruled at the North Gauteng High Court that the union had failed to prove that its application was urgent.

Numsa had hoped Judge Mokose would hear its plea to save the jobs of 146 of its members at VR Laser.

The company had about 300 employees, described as “uniquely skilled” arms producers by Numsa’s Irvin Jim in the union’s court papers.

A number of these employees, who have not been paid for six months, observed the auction yesterday.

Visibly dejected, they said they were still shocked at how their jobs had disappeared.

“How can we lose our jobs because of a mere bank account?” asked Sipho Mabena, who had been with VR Laser for 11 years. “There were still jobs here. The only thing that the company doesn’t have is a bank account.”

The now jobless workers criticised the government for not intervening in the matter.

“Our government has really failed us,” said Mabena. “It’s disappointing that it allowed a company like VR to just collapse.”

Employee Meshack Kutumela said it was painful to lose a job he had held for 16 years.

“We were building vehicles for Denel even before the Guptas bought the company,” he said. “We didn’t choose to work for them. They found us here and messed up our beautiful work.”

How can we lose our jobs because of a mere bank account?” SIPHO MABENA VR Laser employee