Coca-Cola Bottlers Uzbekistan to resume production in September

Tashkent, Uzbekistan, August 8
By Demir Azizov- Trend:

JV Coca-Cola Bottlers Uzbekistan Ltd. (Coca-Cola Ichimligi Uzbekiston) which stopped production in 2013 will resume it in September - early October this year, Uzpischeprom food industry association told Trend.

"At present, the joint venture is preparing for the release of products. As it is expected, Coca-Cola drinks will be available in September-October," the association`s representative said.

JV Coca-Cola Bottlers Uzbekistan Ltd. was established in 1993. Its founders were the Coca-Cola Export Corporation, ROZ Trading Ltd. and "Uzpischeprom" state association. Each of the participants owned 33.3 percent share in the joint venture.

ROZ Trading increased its share up to controlling package (55.055 percent) in the course of several transactions and the newly created ROZ Trading Uzbekistan, a wholly-owned "daughter" ROZ Trading became the fourth member of a joint venture with a share of 9.947 percent. Coca-Cola Export Corporation owned 32.998 percent by 2001, "Uzpischepromu" - 2 percent.

In 2001, the Economic Court of Uzbekistan declared illegal the transaction to increase the share ROZ Trading in the joint venture. The company has also been sued for breach of tax and currency legislation.

In April 2002, ROZ Trading Uzbekistan was declared bankrupt. The court decided to withdraw from ROZ Trading 23.416 percent share in the joint venture to repay the debt to the state.

In September 2003, "Uzpischeprom" and Coca-Cola Export Corporation signed an agreement on the joint venture and the new version of the charter, according to which "Uzpischeprom" owned 57.118 percent, Coca-Cola Export Corporation - 42.882 percent of shares.

In 2004, the State Property Committee of Uzbekistan sold shares of "Uzpischeprom" in the Coca-Cola Bottlers Uzbekistan JV to "Muzimpex", whose controlling package of shares was owned by Zeromax.

In 2010 the company Zeromax was declared bankrupt and its assets were arrested. However, the JV Coca-Cola Bottlers Uzbekistan Ltd., which is according to unconfirmed reports controlled by Uzbek President`s daughter Gulnara Karimova, continued to work.

In 2013, a group of managers of the JV Coca-Cola Bottlers Uzbekistan Ltd were arrested for financial irregularities, and the company ceased production.

In accordance with the government decision, the share of Zeromax GmbH (Switzerland) in the joint venture in the amount of 57.118 percent was donated to the center for management of the state assets under the State committee of the Republic of Uzbekistan on privatization, demonopolization and development of the competition.

Currently, the joint venture has three plants - in Tashkent, Namangan and Urgench. The total capacity of all the companies is 142 million liters of soft drinks per year.

Edited by CN

Davit Zalkaliani congratulates Gerry Connolly on election as President of NATO PA
Davit Zalkaliani congratulates Gerry Connolly on election as President of NATO PA
Georgian banks see increase in interest income
Georgian banks see increase in interest income
National Bank of Georgia reveals data on losses of commercial banks
National Bank of Georgia reveals data on losses of commercial banks
Loading Bars
Latest
Kalbajar returned to its true owners - Turkish government
Assembly of new-generation combines starts in Azerbaijan
Azerbaijani currency rates for Nov. 25
Iranian currency rates for November 25
US welcomes observance of agreements on settlement in Karabakh - Pentagon
Kalbajar district's return to Azerbaijan - new triumph of historical justice, says expert
As winter approaches, Egypt braces for second coronavirus wave
Turkmenistan, Malaysia aim to boost co-op in oil and gas sector
Uzbekistan reveals its COVID-19 data for November 25
President Ilham Aliyev allocates AZN 5m for design and construction of Barda-Aghdam railway line
Iranian Energy Exchange announces products to be on sale November 25
Fitch withdraws ratings of Yerevan due to incorrect information
Iran to expand economic relations with Qatar
Iran announces readiness to increase percentage of enrichment
Davit Zalkaliani congratulates Gerry Connolly on election as President of NATO PA
First video footage from liberated Kalbajar region (PHOTO/VIDEO)
720 new coronavirus cases in Kazakhstan over last 24 hrs
Energy, transport sectors – main area of Romanian interest in Turkmenistan
1 dead, 2 missing after workshop collapse in SW China city
Import of Turkish clothes by Uzbekistan drops sharply
75 more coronavirus patients die in Moscow in past day — crisis center
Number of COVID-2019 cases across globe up by over 463,000 in past day — WHO
Israel reports 798 new COVID-19 cases, 330,796 in total
Units of the Azerbaijan Army enter Kalbajar region
Pennsylvania certifies election results for Biden
Iran, Qatar sign MoU to cooperate on economy
Kalbajar region of Azerbaijan being liberated from Armenian occupation today
China, Japan eye closer cooperation amid COVID-19 pandemic
Construction of the TAPI gas pipeline in Afghanistan territory will continue next year
ICESCO SecGen sends letter to President Aliyev
Azerbaijani, Russian presidents hold phone talks
Urban transformation back on track for ‘abandoned’ Istanbul neighborhood
“Scorched earth” strategy of Armenians leaving Azerbaijani Kalbajar region did not escape EC attention - report
President Rouhani: Iran to be able to mass produce coronavirus vaccine soon
Turkmenistan is convinced of the need to attract political-diplomatic tools to achieve peace and prosperity in Afghanistan
Georgian banks see increase in interest income
Azerbaijan’s revenues from export of hazelnuts down
Azerbaijan’s import of plastics and plastic products drops
Turkmenistan will continue to cooperate with Afghanistan on security issues
Nursing homes will be first to get COVID-19 vaccine in Spain
Troops from Azerbaijan's Nakhchivan who took part in Karabakh conflict, return home (PHOTO)
Speaker of Azerbaijani parliament takes part in int’l conference initiated by Turkish parliament, PACE (PHOTO)
Any result that acceptable for Azerbaijan - acceptable for Turkey too, FM says
Volume of paid services in Azerbaijan’s Nakhchivan Autonomous Republic down
Azerbaijan shows aerial footage of Shusha city (VIDEO)
Kazakhstan eyeing to develop information system for accounting of oil and gas condensate
Anglo Asian Mining's production of precious metals in Azerbaijan may decrease
Uzbekistan eyes to increase share of renewable energy sources by 2030
Airbus CEO says industry might need until 2025 to reach pre-crisis levels
Parliament's plan to increase subsides - costly for Iranian government
Ukrainian companies enter Uzbek commodity exchange
National Bank of Georgia reveals data on losses of commercial banks
Import of sugar and confectionery by Azerbaijan down
Demand for Turkish electrical goods on Kazakh market grows in 10M2020
Azerbaijan confirms 1,259 more COVID-19 recoveries
Bahar Azadi gold coin price again falling in Iran
Azerbaijan discloses data on destroyed houses in liberated Fuzuli district
Baku Media Center prepares video covering Armenian vandalism on occupied territories of Azerbaijan (VIDEO)
Russian president hopes for participation of int’l organizations in Karabakh conflict settlement
Power abuse by major states prevents resolving conflicts - Russian FM
Uzbek-Korean JV to buy electrical products via tender
Turkmenistan offers business opportunities for Switzerland in number of fields
North-South Corridor - on Iran's agenda - Minister of Roads and Urban Development of Iran
Turkish, Russian military personnel to jointly patrol in Nagorno-Karabakh - Turkish MoD
Azerbaijan shows footage from Abdal, Gulabli villages of Aghdam district (VIDEO)
Egyptian air operator enters Uzbek market
Uzbekistan to introduce changes to electricity payments in 2021
Iran assigns more funds to complete unfinished projects
Turkmenistan's Turkmennebit opens tender for purchase of equipment
Azerbaijan’s startup sector expects big investments
Iran's ten-month import of steel from Turkey drops
Tesla set to breach $500 billion in market value
State budget for 2021-2023 approved in Kazakhstan following amendments introduction
Kazakhstan's bitumen output exceeds 2020 plan as maintenance works held country-wide
Port of Baku reveals total 10M2020 cargo shipments
New railway vehicles put into operation in Iran
Iran`s Zarif to visit Moscow and Baku despite postponement
Kazakhstan looking to double renewables share in electricity production
Iran continues to cut reliance on oil revenue
Volume of container transshipment between Kazakh, Azerbaijani ports almost triples
LUKOIL refusing plans to construct giant petrochemical complexes
Iran, Qatar sign an extensive Memorandum of Understanding to facilitate cooperation
Switzerland names main trade statistics with Turkmenistan
Dry cargo transshipments through Baku port grow in 10M2020
LUKOIL says reducing oil exports to Europe is inevitable
Georgia receives new buses of modern standards
Georgian hazelnuts exports up
Georgia sees increase in export of tangerines
Ryanair wants to be 'at front of queue' for new 737 MAX order
Azercell’s Mobile Eye Clinic joins campaign for IDPs initiated by the UN (PHOTO)
El Al to launch Tel Aviv - Dubai flights next month
Kazakhstan’s third-quarter economic performance benefits from recovery of oil prices
Azerbaijan informs UNESCO, ISESCO about results of initial monitorings on liberated areas
Turkmenistan’s private sector participates in dev't of poultry farming
Iran discloses plan on creation of new jobs in Yazd Province
Destroyed Armenian positions firing at Azerbaijani army during recent hostilities shown (PHOTOS)
Central Bank of Azerbaijan discloses data from foreign exchange auction
CBI announces Iran's external debt
Azerbaijan starts to grow bananas - Azerbaijani Ministry of Agriculture
Azerbaijani servicemen help Armenians to move belongings from villages of Aghdam district (VIDEO)
All news