JSC “Lvov confectionery factory “Svitoch” (Lviv), controlled by Nestle and one of the largest manufacturers of confectionery products in Ukraine, will change its legal form of business from a joint-stock company (JSC) to a limited liability company (LLC).
The corresponding decision at the meeting on July 8 was made by the sole beneficiary owner of the enterprise – the company “Societte De Produit Nestle S.A.” (Societe Des Produits Nestle S.A.), according to the NCKBFR website on Tuesday.
“First of all, we want to assure you of the continuity and continuity of our business activities. We have no plans to stop such activities. On the contrary, the simplification of the company’s management system will lead to an improvement in the efficiency of such management,” the company said in a statement.
“Svitoch” clarified that all obligations assumed by it in accordance with the law and agreements with partners remain in force and will be fulfilled in full and within a certain period – either JSC “Lviv Confectionery Factory “Svitoch”, or its successor LLC “Lvivskaya confectionery factory “Svitoch”
Nestlé owns a 96.96% stake in the Svitoch confectionery. The Nestle group of companies in Ukraine also unites Nestle Ukraine LLC, Volynholding PrJSC (Torchin TM), Technocom LLC (Mivina TM).
Svitoch received UAH 70.44 million in net profit in 2020, and its revenue amounted to UAH 2.56 billion.
