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Azerbaijan announces competition to sale shares of household machines enterprise

Business Materials 2 October 2011 11:45
State Property Committee of Azerbaijan has announced an investment competition for the sale of 99.67 percent of shares of "Baki Meishet Mashinlari" JSC ("Baku household machines").
Azerbaijan announces competition to sale shares of household machines enterprise

Azerbaijan, Baku, Oct. 2 /Trend, N.Ismayilova/

State Property Committee of Azerbaijan has announced an investment competition for the sale of 99.67 percent of shares of "Baki Meishet Mashinlari" JSC ("Baku household machines"), the state committee reported on Saturday.

The competition is open to individuals and legal entities of Azerbaijan and foreign investors.
Applicants must submit an investment program with proposals to introduce new technologies that improve the quality and range of products, gradually increase production capacity, restore employment and social welfare of workers.

Baki Meishet Mashinlari is engaged in the production and sale of universal household appliances. The factory is located in the Narimanov district of Baku, in A.Haibov str. 6.

The authorized capital of JSC is 4.53 million manat, for this amount, 2,263,874 shares of par value in two manat of each have been issued. The object of the competition are 2,256,428 shares with the total nominal value of 4.51 million manat.

As of Sept. 1, 2011, the company has debts amounting to 561,700 manat, including salary debts of 320,600 manat, the debts for raw materials and services rendered are 241,200 manat.

The company has been operating since 1985. The number of its employees is 31 people.
Applicants can review the requirements of the competition, the privatization plan and get more information from 10:00 to 17:30 by Nov. 1, 2011 in the address: Baku, Y.Safarov str., 20. Documents and proposals are accepted from 10:00 to 17:30 prior to Nov. 1.

The proposals will be reviewed by the competition commission at the State Committee from 11:00 on Nov. 3, 2011.

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