The PSC Tema Ship yard has been closed down. This is the commencement of government’s move to buy back the 70 per cent shares sold to a Malaysian company in 1997. Officials of the Divestiture Implementation Committee on Thursday locked up the premises after obtaining a court order. Some of the workers were not happy with government's failure to give prior notice but urged officials to speed up the takeover process in order for them to get back to serious business. There have been several bitter wrangling between workers and the management mostly over conditions of service, with the workers lately accusing management of engaging in some fraudulent activities. Investigations conducted by Joy News last year instigated by these wrangling showed how the company, which was once the beacon of West Africa’s ship yard had been mismanaged. Government then constituted a committee chaired by Mr Chris Ackumey to investigate operations within the company and make recommendations. The committee recommended a take-over after its investigations. The Minister of Transport, Mike Hammah told Joy News cabinet has already set up a committee to oversee the takeover and transition of the PSI Ship Yard. He assured workers the company will soon be opened for brisk business. Story by Nathan Gadaugah/Myjoyonnline.com/Ghana