The General meeting of shareholders of PJSC AvtoKrAZ, which was held on 30 Mar 2017 made the decision to change the type of PJSC AvtoKrAZ public joint-stock company to private joint stock company. About it reports a press-service of the company.

Accordingly, the meeting amended the company’s Charter, elected the new composition of the Supervisory Board and the audit Commission.

General Director of AvtoKrAZ noted that sales of the company in 2016, reported net income of 1.23 billion UAH. Compared to the 2015 production volumes increased trailer by 47% semi-trailers by 20%, foundry products – by 20%, spare parts for cars – 4%.

In the total number of manufactured vehicles in 2016 the largest share – 63% – took a truck chassis under installation of various special equipment. Side cars were made 26%, tractors – 9%, dump trucks – 2% of the total production.

Implementation of automotive equipment was carried out in foreign countries – 33% CIS – and 20% to the domestic market 47% of the total supply.

The Finance Director noted that due to the measures taken to reduce production costs and conduct flexible pricing policy when selling on the markets, the enterprise from operating activities for the reporting period made a profit, but from other types of activity of PJSC AvtoKrAZ has significant losses that have exceeded this figure.

In this regard, the General shareholders ‘ meeting AvtoKrAZ decided the reserve Fund, dividend payments and Fund the development of production do not form due to the lack of source. When it approved the norms of profit distribution of the company in 2017: 5% reserve Fund, 95% – Fund of production development. The proposed norms of profit distribution motivated by an acute need of technical re-equipment of the enterprise.

The plan of the enterprise for the current year, among other things, the increasing volumes of production and sales of automotive equipment up to 1200 units – primarily in the interests of defensibility of the country

We will remind as earlier reported, the company AvtoKrAZ in 2016 increased loss compared to 2015 in 5 times to 1.43 billion UAH. The beneficiary of the company is businessman Konstantin Zhevago.

See also interview with the CEO of AvtoKrAZ: a heavy load. As AvtoKrAZ out of the crisis

Otmetim that the group KrAZ public joint – stock company Poltava automobile units plant (PAAZ), Tokmak forging and stamping plant (TXS, Zaporizhia oblast), Kherson plant of cardan shafts (HSCV) and Kamenets-Podolsknefteproduct (CPA, Khmelnytska oblast) also announced plans to be reorganized into private joint stock companies.

AvtoKrAZ Zhevago has changed the form of ownership 31.03.2017

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