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20 January 2022

Solidarity is a factor of success

“Ohangaronshifer” JSC, located in Ahangaron, is one of the largest manufacturers of construction materials.

The powers of the company's executive body have been transferred to the trust management of “Mega Golden House” LLC by the decision of the general meeting of shareholders on August 22, 2018, subject to investment and the establishment of high-tech production. However, during this period of reliable management, the company's production and sales volumes have been steadily declining, with a loss of 0.8 billion soums in 2018 and 1.9 billion soums in 2019.

As a result, current expenses related to wages and production were covered by the trust manager, and 8.4 billion soums of creditor debts to the company were created.

After that, by the decision of the Ahanganron Interdistrict Economic Court from July 6, 2021, the company was declared bankrupt and liquidation proceedings were initiated without suspension.

It should be noted that the State Assets Management Agency (UzSAMA) pays special attention to the process of economic rehabilitation of such bankrupt enterprises.

Particularly, due to the possibility of restoring the solvency of the company and in order to save the jobs of about 400 employees, by the initiative of UzSAMA proper job has been done to bring the company out of bankruptcy by introducing external management.

For example, by the ruling of the Urtachirchik Interdistrict Economic Court from November 23, 2021, the liquidation proceedings against "Ohangaronshifer" JSC were completed and the company was appointed external management for a period of 12 months.

On January 18 this year, the Deputy Directors and executives of UzSAMA met with employees of "Ohangaronshifer" JSC and said that about 300 employees of the company during the external management of the enterprise improved the production activity of the enterprise, paid salaries on time and plan to increase the production amount.

UzSAMA will continue to take the necessary measures to financially rehabilitate enterprises, increase the number of jobs and provide them with full support to ensure their full operation.

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