Uzbekistan transferred the state share in the authorized capital of JSC “Uzmetkombinat” to the trust management of SFI Management Group.
According to the agreement, all the deputies of the chairman of “Uzmetkombinat” will be appointed and dismissed from their positions by the supervisory board on the proposal of the SFI Management Group. The company will also be able to make proposals on changing the organizational structure and structure of the company’s executive office.
At the same time, the plant’s chairman of the board will be elected by the general voting of shareholders. Further the office will be approved by the Cabinet of Ministers in agreement with the president of Uzbekistan.
Moreover, the structure obtained a new management. A number of regional companies were reorganized into the branches of the JSC “Uzmetkombinat”.
JSC “Uzmetkombinat” is the only authorized body for the procurement of scrap and waste of ferrous metals in the country. Calculations for the surrendered volumes are carried out at a contract price, determined on a market basis. (Trend/Ukrainian metal)
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