Uzbekistan, Tashkent, June 12 / Trend D. Azizov /
Maxam-Chirchiq company (Chirchiq town, Tashkent region) is one of the leading enterprises of the Uzbek chemical industry.
Maxam-Chirchiq company's net profit as of 2012 amounted to 14.34 billion soums compared to 24.4 billion soums in 2011 (decrease by 41.2 percent), the company said.
According to the report, the company's net proceeds increased by 15.9 percent - up to 315.2 billion soums as a result of product sale. The cost of the sold products increased by 25.9 percent - up to 250.42 billion soums, the gross profit decreased by 12.9 percent - to 64.8 billion soums in 2012.
Maxam-Chirchiq's company reduced expenses by 1.7 percent - to 62.3 billion soums in 2012.
The company's assets increased by 18.7 percent - up to 609.266 billion soums. The long-term assets increased by 32.6 percent - up to 228.508 billion soums, current assets - by 11.6 percent (up to 380.758 billion soums).
According to the report, the liabilities increased by 24.4 percent - to 403.845 billion soums, including long-term liabilities - 64.253 billion soums (decreased by 9.6 percent), current liabilities increased by 33.9 percent - to 339.592 billion soums.
The company's net capital increased by 8.8 percent and amounted to 205.421 billion soums in 2012 given the authorized capital to the amount of 24.996 billion soums and undistributed profit to the amount of 46.249 billion soums compared to 32.902 billion soums in the previous year (an increase of 40.6 percent).
Maxam-Chirchiq enterprise was put into operation in 1940. The company specializes in the production of ammonia, ammonium nitrate and carbamide.
In 2007, the Spanish Maxam Corp. S.A.U. acquired 49 percent stake in OAO Electrokhimprom for $ 22 million with investment commitments of $ 55 million to be invested in the development of the company during five years.
MAXAM Corp owns 49 percent of the shares, while the state - 51 percent in the authorized fund structure.
A large-scale ammonia unit AM-76 worth $ 24.72 million was reconstructed and modernized at the enterprise in 2010.
MAXAM Corp. S.A.U. commissioned the production of low-density ammonium nitrate (porous ammonium nitrate) at Maxam-Chirchiq company worth $15.4 million in November 2011.
The company completed upgrading the carbamide production worth $20.8 million in February 2013. As a result, the company's carbamide production increased by 1.6 times - up to 270,000 tons per year.
The plant produces about 35 kinds of chemical products, including liquid technical ammonia, nitric acid, ammonium nitrate and urea, ensuring the needs of the domestic market and exporting its products to CIS countries, EU, U.S., Latin America, and Australia.
According to the company, the company produced 511,260 tons of synthetic ammonia (an increase of 14.4 percent compared to 2011), 296,269 tons of nitrogen fertilizers (an increase of 6 percent), 479,670 tons of ammonium nitrate (an increase of 1.8 percent) in 2012.
Carbamide production increased by 5 percent - up to 197,187 tons, ammonium sulfate - by 31.8 percent (up to 190,803 tons), non-concentrated nitric acid - by 8.3 percent (up to 477,414 tons) in 2012.
Last year, the company exported products worth more than $76.681 million, including 105,146 tons of ammonium nitrate worth $26.94 million, carbamide - 95,308 tons ($33.66 million), ammonium sulphate - 9,869 tons ($ 1.46 million).
The company shipped 19,224 tons of porous ammonium nitrate to the amount of $5.81 million, 17,721 tons of ammonia worth $5.85 million for export. Exports of other products totaled $2.95 million.
The official exchange rate is 2.088.09 soums/$ 1 on June 11.