Foreign company expands activity in Uzbek textile market

Business Materials 2 February 2018 21:59 (UTC +04:00)

Tashkent, Uzbekistan, Feb. 2

By Mammad Dashdemirov – Trend:

Aysel-Invest JSC, rendering tourism and hotel services, joined the founders of one of Uzbekistan's biggest textile enterprises, JV LLC UzTex Tashkent, receiving a 20-percent share in the statutory fund, the company's management told Trend.

UzTex Tashkent LLC is a part of UzTex Group, which is the biggest manufacturer of textile products in CIS with eight big factories of a total capacity of 20,000 tons of hard yarn and 4,800 colored yarn. Its products are exported to 45 countries.

UzTex Tashkent was established in 2010. Its capacity is 6,000 tons of combed compact yarn, 1,000 tons of pneumatic compact spun yarn and 1,500 tons of double twisted yarn. The German, Italian, Swiss and Japanese equipment was installed at the enterprise. Its average annual sales volume is $20 million. The products are exported to Italy, China, Korea, Poland, Russia and Turkey.

Aysel-Invest was established in 2002. It is fully owned by Swiss Capital International Group. Aysel-Invest also owns 48.5 percent in the statutory fund of UZTEX SHOVOT JV LLC.

Aysel-Invest’s assets increased 2.2 times to 61.7 billion soums, its capital rose 2.1 times to 27.4 billion soums, net profit increased 9.2 times to 31.2 billion soums in January-September 2017 compared to the same period of 2016.

(8,175.77 UZS = 1 USD on Feb. 2)