Two municipal enterprises to become open joint-stock companies

31 July 2006 (11:14)

Chelyabinsk Region Government approved of the proposal consisting in privatizing two municipal enterprises, Emanzhelinsk Printing Works and Pharmaceutics Factory, and making them open joint-stock companies, with the 100% share holding still belonging to Chelyabinsk Region Government. Such decision was made at the Government sitting today.

According to Evgeny Teftelev, Chelyabinsk Region Minister of Industry and Natural Resources, the privatization of the two enterprises was actually included in the privatization plan for 2006.

After the reorganization takes place, the authorized capital of Emanzhelinsk Printing Works (founded in 1992) will come to 5 .441 million RUR, that of Pharmaceutics Factory (founded in 1965) to 29.479 million. The Board of Directors will be partly made up by the Ministry executives and the representatives of ministries and administrations dealing in printing and pharmaceutical businesses.

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