Azerbaijan Tyre Plant For Sale

96.98 per cent of the shares in the Azershin tyre factory in Azerbaijan are for sale. Commissioned in 1959, the Azershin plant is located in Baku, Azerbaijan and covers an area of 17.9 hectares. The plant produces 1.5 million tyres per year. The enterprise, with the charter capital of 8.9 billion manats ($1.87 million), employs 69 people and has 894,314 shares with a value of 10,000 manats each. Azershin has arrears amounting to 26.5 billion manats ($5.6 million).

The winner of the tender process will be required to present an Investment Program detailing the amount and duration of investments, as well as proposals on application of new technologies and reopening of jobs. They will also have to submit 70,000 privatisation shares (vouchers), transfer five per cent of the required amount of investment to the OJSC account and 1.350 billion manats ($285,000) to the state budget.

Bidders are required to submit the necessary documents and bids before 5 August.