Czech company acquires shares of Uzbek Sanoatqalinqogozsavdo

Business Materials 29 July 2011 19:02 (UTC +04:00)

Uzbekistan, Tashkent, July 29 / Trend D.Azizov /

The Czech Paper Mill Holding s.r.o purchased 53.05 percent of stake in the Uzbek Sanoatqalinqogozsavdo (Promkartontorg) specializing in the production of cardboard and paper products.

The local media reported about the purchase contract. The sum of deal was not disclosed.
Promkartontorg reported that Paper Mill Holding s.r.o purchased all shares - 48.3 percent - from the Swiss Miller Trading GmbH and 4.75 percent of shares from minority shareholders - physical persons.

Sanoatqalinqogozsavdo's charter capital makes up 609.588 million soums, which comprises of 406,392 ordinary shares with nominal value of 1,500 soums.

Promkartontorg is one of the leading companies in Uzbekistan's paper industry.

Its production capacity is 100,000 tons of container board a year, 125 million square meters of corrugated packaging and 100,000 square meters of fiber board for the furniture industry.

The official exchange rate is 1724.94 soums to $1 on July 29.