Siyazan Industrial Devices Privatizes through Investment Competition
Azerbaijan, Baku / Trend I. Khalilova / The State Committee on State Property Management of Azerbaijan, announced investment potential of 99.7% of the assets of Siyazan Industrial Devices. Some 14.7% of the assets put up for competition were the remainder of the closed subscription among the employees of the enterprise. The bids made by the participants will be estimated on 6 July and the deadline for submission of bids is 4 July.
According to the terms of the competition, the investor should transfer to the public budget AZN 70,000 and remit 10,000 privatized checks to the State Committee. To confirm the seriousness of their objectives, the participants in the competition should present a guarantee letter issued by any bank in the amount of AZN 20,000.
During the estimation of the bids, preference will be given to the investor who offers the maximum amount of capital investment, takes obligations on their effective use, as well as possess relevant experience in the exploitation of industrial enterprises, production and sale of goods of technical and special appointment or general consumption.
As of 1 March 2007, the statutory capital of the enterprise made up AZN 333,492. The enterprise's liabilities comprised AZN 34,771, the debts for salary and other debts totalled AZN 9,333. Accounts receivable equalled 805 manats.