Tashkent, Uzbekistan, April 8
By Demir Azizov- Trend:
Uzbekistan`s Uzeltekhsanoat (Uzeltekhprom) association, including the electro-technical enterprises, transformed into Uzeltekhsanoat joint stock company in the form of the open joint stock company in accordance with the decision of President Islam Karimov.
In accordance with the decision of the Uzbek president, the company will coordinate production and marketing activities of enterprises of electro-technical industry, aimed at expanding the production of quality and competitive products.
Company objectives will include: conduction of a unified technical policy envisaging widespread introduction of modern high-performance technologies into the industry enterprises, further deepening of the localized production of finished products, components and materials based on industrial cooperation, and study of demand for produced products in the domestic and foreign markets of Uzbekistan.
The company will also be responsible for the implementation of investment projects to modernize and expand the range of electrical production in the sector and attracting foreign investors in the industry for the production of household appliances.
The initial authorized fund of the Uzeltekhsanoat JSC is formed at the expense of a package of public shares and the assets of the transforming Uzeltekhsanoat Association.
Uzeltekhsanoat JSC gained the right to issue shares and other securities in order to attract the necessary investment for the implementation of the projects to modernize and expand production of electrical products for the industry, according to the presidential decree.
Herewith, the public share in the authorized fund of the JSC may not be less than 50 percent plus one share as a result of issue and placement of additional shares and other securities.
Today, Uzeltekhsanoat unites 23 enterprises of the electro-technical industry, including three - for the production of cable products, 10 for the production of industrial products, eight for production of complex and electronic products, two for provision of service and repair services. The most part in the volume of the produced goods accounts for cables and wires - 61.2 percent and production of industrial and technological products - 30 percent.
Translated by S.I.
Edited by C.N.