Uzbek bank to manage assets of "Wimm-Bill-Dann Tashkent"
Uzbekistan, Tashkent, Aug. 24 / Trend D.Azizov /
The assets of "Wimm-Bill-Dann Tashkent" (VBD Toshkent), formerly subsidiary of Russia's "Wimm-Bill-Dann Foods", were transferred to the trust management of NBU Investment, a subsidiary of The Uzbek National Bank for Foreign Economic Affairs, a source in the government told Trend.
In September 2011, the Tashkent City Criminal Court decided on the transfer of assets of VBD Tashkent, a former subsidiary of Russia's Wimm-Bill-Dann, to the state revenue service.
The company's assets (warehouses, production plants, territory and equipment of "VBD Tashkent") are recognized as "an instrument of crime". The court found it necessary to "turn them over to the state budget".
The company's employees were charged for violation of tax and customs legislation, trade regulations, production of substandard goods, theft, and other crimes.
Wimm-Bill-Dann bought 76.98 percent stake in "Toshkent sut" (Tashkent region) for $131,400 and created VBD Toshkent on its basis in April 2004.
The investor undertook investing $7.3 million to develop the plant in five years. The plant began to produce products in September 2004. The design capacity of milk processing enterprises was 68 tons per day, the company offered over 40 kinds of dairy products. VBD Tashkent does not manufacture products from December 2009.
The source said the state enterprise Tashkent sifat sut was established on the basis of the former Russian dairy factory, whose owner is now the Tashkent municipality.
As expected, first production of dairy products will be launched in October-November, 2011.
NBU Investment was established by the National Bank of FEA to control the former bankrupt enterprises, whose assets are transferred to the bank. After the restoration and modernization of enterprises established on the basis of bankrupt enterprises, they can be sold to foreign investors.