Maxam-Chirchiq distributes net income for 2012
10/07/2013 11:45
Maxam-Chirchiq distributes net income for 2012
10/07/2013 11:45
Tashkent, Uzbekistan (UzDaily.com) -- Open joint stock company Maxam-Chirchiq distributed its net income for 2012 at the size of 14.34 billion soums and undistributed income for 2011 at the size of 23.407 billion soums.
According to the decision of shareholders, the company will direct 717.037 million soums of 2012 net income to form reserve fund and 143.407 million soums to fund for modernization and new technologies.
The fund for protection of labour and technical security will get 143.407 million soums as well, the report said.
The shareholders kept 13.337 billion soums and provided right to the company to use them within project “Reconstruction and modernization of raw capacities to increase production of mineral fertilizers at Maxam-Chirchiq”.
Undistributed net income for 2011 at the size of 23.407 billion soums will be also used within the above-mention project.
Maxam-Chirchiq OJSC, former Elektrohimprom, was commissioned in 1940 and specializes on production of ammonia, ammonium nitrate, and carbamide. MaxamCorp S.A.U. purchased 49% stake at Elektrohimprom for US$22 million in 2007. The company undertook obligation to invest US$55 million in next five years. The charter capital of the company is 24.996 billion soums.
Maxam-Chirchiq is a leading chemical enterprise in Uzbekistan, which produces 30 types of goods. The company realizes its products in internal market and exports to the countries of the CIS, European Union, USA, Latin America, and Australia.
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