Baku based cotton fabric factory shares up for sale
15 Jul '05
1 min read
The state property management and privatization department of the Ministry of Economic Development announced issuance of a tender for the sale of 99.31% of the Mingachevir-Weaver Open Joint-Stock Company (OJSC) shares.
Baku based company produces cotton fabrics and employs 19 persons.
Local and foreign investors have been invited to bids and the release says preference will be given to bidders offering highest investments and those committed to efficient investing and experienced in producing cotton threads and raw fabrics and applying modern technologies.
Tender is open till July 29.
The unit is located in Mingachevir District, 250 km west of Baku, and covers an area of 140,000 square meters. OJSC has charter capital of 6.9 billion manats (over $1.4 million), has 687,784 shares with a value of 10,000 manats each. Currently, the OJSC's arrears run up to 5.4 billion manats ($1.1 million).
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