PrJSC Barskyi Machine-Building Plant (Barmash, Bar, Vinnytsia region), a major Ukrainian manufacturer of equipment for the food industry, gas and electric boilers, plans to use its net profit of UAH 1.6 million in 2022 for business activities.
This is stipulated by the draft decision of the company’s general shareholders’ meeting scheduled for September 28, the agenda of which has been published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
In particular, the shareholders intend to amend the company’s charter and replace the management board with a new management board. In this regard, it is planned to terminate the powers of the Chairman of the Board Ilya Luka, his First Deputy Gennadiy Luka and members of the Board Vasyl Gontar and Oleksandr Lototskiy.
At the same time, it is proposed to elect Ilya Luka (CEO) and Gennadiy Luka (director) to the board, who, according to the Unified State Register of Legal Entities and Individual Entrepreneurs, are the ultimate beneficiaries of Barmash.
The Bar Machine-Building Plant produces, among other things, equipment for the alcoholic beverage, wine, oil and fat, canning, confectionery, and bakery industries, and since 2000, gas, electric, and solid fuel heating boilers under the ThermoBar brand.
According to opendatabot, in 2022, the company reduced its net income by 19.4% compared to 2021, while net profit increased to UAH 1.6 million from UAH 0.92 million.
According to the company, its assets amounted to UAH 94.29 million in 2022 (down 12.7%), including total receivables, which decreased by 36% to UAH 9.8 million. Current liabilities decreased by 7.2% to UAH 34.3 million, while long-term liabilities decreased by 14.4% to UAH 4.8 million.
Retained earnings amounted to UAH 2.52 million compared to UAH 0.92 million a year earlier.
Kadorr Group (Odesa) intends to acquire a 100% stake in First Kyiv Machine-Building Plant JSC (formerly the Bilshovyk plant).
According to the company’s report in the information disclosure system of the National Securities and Stock Market Commission dated October 8, Kadorr Invest LLC intends to acquire 44.58 ordinary registered shares constituting 100% of the charter capital of the plant.
The company and its affiliates do not own the shares of the plant at the time of notification.
According to the Unified public Register of Legal Entities and sole proprietors, Adnan Kivan (50%) and Olha Pavlova (50%) are the founders and ultimate beneficiaries of Kadorr Invest LLC with a charter capital of UAH 1 million.
According to the data on the official website, the portfolio of Kadorr Group has more than 2 million square meters of residential real estate put into operation, including more than 50 residential complexes, 90 cottages. The assets of the group also include 7 business centers, 5 shopping malls and commercial space with a total value of more than $800 million. The owner of the group, Adnan Kivan, is in the top five rentiers of Ukraine with the highest income from real estate lease according to Forbes Ukraine with an indicator of $45 million at the end of 2020.
More than 15 potential investors have shown interest in acquiring JSC First Kyiv Machine-Building Plant (formerly the Bilshovyk plant) at a privatization auction, the press service of the State Property Fund (SPF) of Ukraine has reported.
“As a result of high-quality preparation [of the enterprise for privatization], more than 15 potential investors have already shown interest in this asset, as evidenced by the non-disclosure agreements they signed to obtain detailed information on the enterprise,” the SPF said in a Friday press release.
The press service recalled that the SPF carried out “comprehensive work to stabilize this asset, defended the state interest in courts and returned the illegally alienated property, provided a deep audit of the enterprise and, despite all the obstacles, prepared the Bilshovyk plant for the privatization auction.”
The press service of the State Property Fund also declared attempts to impede the transparent privatization of the enterprise, and called them evidence of “the helplessness of the shadow employees separated from the large-scale state asset.”
“It is such a large-scale facility that the Bilshovyk plant is, which for decades was destroyed and was brought to a critical state: UAH 500 million in debt, seized property and destroyed production turned this facility into ruins – only for the illegal income of some individuals,” the press service said.
