Uzbekistan creates Uzagroprommashholding

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May 25, 2014

Uzbekistan creates Uzagroprommashholding

Uzbek President Islam Karimov signed a resolution “On measures on improving management and financial rehabilitating enterprises of agriculture machinery” on 15 May 2014.

The document is directed at further improving activities of agriculture machinery industry, improve their efficiency and profitability, production of new equipment and tools, demanded in Uzbekistan and abroad.

Uzbek President approved a proposal on creation of holding company of agriculture machinery Uzagroprommashholding in the form of open joint stock company.

The enterprise will conduct marketing research of internal and external markets, coordinate supply of agriculture equipment to farms, improve competitiveness of agriculture machinery products, etc. It will also coordinate researches to launch new products, create new and modernize new production capacities in Uzbekistan and others.

The charter capital of the enterprise will be formed due to state shares in the companies, which will be transferred to the holding company. The company allowed to place additional shares, but the state share should not be less than 51%.

In line with the decision, Tashkent Tractor Plant will be liquidated and production of tractors, trailers and cotton harvesters will be located at newly created Tashkent Plant of Agriculture Equipment.

Products, manufactured at Agregat Plant, will be moved to Chirchiqselmash, which will be reorganized, it its turn, into Chirchiq Plant of Agriculture Equipment. Agregat Plant will produce components and spare parts for agriculture equipment.

TTZ and Chirchiqselmash premises will be handed over to Uzagroprommashholding to create new capacities there.

Uzbek leader also ordered to the Government to develop programme of further improving of service system of agriculture equipment for 2014-2016.

The document should include measures on introduction of new methods of providing services to agriculture equipment, further localization of production of spare parts, etc.