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Economy 14/05/2012 Shareholders of Maxam-Chirchiq distribute part of net income
Shareholders of Maxam-Chirchiq distribute part of net income
Tashkent, Uzbekistan (UzDaily.com) -- Stakeholders of Maxam-Chirchiq open joint-stock company distributed part of net income of the company of 2011 at the size of 24.4 billion soums, the company’s statement said.

The company disclosed that shareholders adopted decision to direct 1.22 billion soums (5% of net income) to formation of reserve fund and 244.009 million soums to formation of fund on modernization and new technologies (1%).

Shareholders also issued 244.009 million soums to formation of fund on labour protection and security. Other part of net income for 22.693 billion soums was not distributed.

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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