Russia's United Engine Corporation has offered for sale a 97.72% stake in JSC Topaz (Moldova) at an initial price of $15.72 million.
This was reported by regnum with reference to the auction card, noting that 97.72% of the authorized capital of the Topaz joint venture was offered for sale. The tender starts (the results of which will be summed up on January 23, 2023) with an initial price of 1,076,214,214,000 rubles ($15.72 million) at the exchange rate of the Central Bank of the Russian Federation). In total, 3,217,601 ordinary inscribed shares of the JV Topaz, which dates back to 1978 - from the Chisinau Instrument-Making Plant, were put up as a lot. In 2002, a controlling stake in the enterprise was acquired by the Russian Federal State Unitary Enterprise, which specialized in the production and maintenance of aircraft engines. Today, the Topaz enterprise employs about 120 people. The Topaz plant (formerly the Chisinau Instrument-Making Plant) was founded in 1978. The enterprise, having a powerful intellectual and production potential, is a developer and supplier of complex electronic equipment used in the production of electronic controllers for aircraft engines and other automated control systems for various production processes. As InfoMarket agency previously reported, Moldovan-Russian JSC Topaz (Chisinau) suffered a loss of 6.2 million lei in 2021 against a profit of 0.14 million lei received in the previous year. According to the company's annual financial statements, in 2021 its sales increased by 6.3% - from 45.8 million to 48.7 million lei and the cost of sales - by 13.7% - from 31.1 million to 35.6 million lei. The authorized capital of the company is 79.02 million lei. The Chisinau Topaz Instrument-Making Plant was established by the USSR Ministry of Defense Industry for the production of fire control systems and was put into operation in 1978. In the summer of 2002, the Russian JSC Salyut acquired 92.8% of the shares of the Chisinau Topaz for $1 million and pledged to invest $4 million in it over the course of two years. Subsequently, Salyut became part of the Moscow United Engine Corporation (UEC). Currently, JSC UEC owns 97.72% of Topaz shares, the remaining shares are distributed among more than 400 shareholders. It is worth noting that UEC is part of the Russian state corporation Rostec, which unites the country's major industrial assets and specializes in the development, serial production and maintenance of engines for military and civil aviation, space programs and the navy, as well as the oil and gas industry and energy. //27.12.2022 - InfoMarket.
