On February 13, the auction for the state’s 100% stake in Auto Rubber concluded on E-auksion.
The bid from Izyumprom was recognized as the best, offering 33.81 billion sums for the lot, which is 5% above the starting price. The signing of the contract is now awaited.
According to data from the State Register, Izyumprom was established in April 2022 in Akhangaran and is engaged in wholesale trading of fruits and vegetables. The company's authorized capital amounts to 1.228 billion sums and is fully owned by Sarvar Umarov.
The asset was first put up for sale in August 2024 as part of a privatization program approved several months earlier. The Auto Rubber plant, which produces rubber components for vehicles, is located in Andijan and employs over 400 people.
The main assets are valued at 69.4 billion sums with a 14% depreciation rate. The company has 97.1 billion sums in current assets and 107 billion sums in accounts payable, while its liabilities total 29.1 billion sums. The company's profit stands at 1.67 billion sums.
The buyer will be required to maintain the primary business profile of the enterprise for 10 years following privatization. They must adhere to the licensing requirements of UzAuto Motors for the products and the standards set by General Motors.
Earlier, Spot reported that 7 applicants submitted bids for the privatization of "Avtooyna."