Creditors decided to liquidate the Tashkent Tractor Plant

Almaty. April 21. Silkroadnews - The creditors of "Tashkent Tractor Plant" (TTP), the largest enterprise of agricultural machinery in Uzbekistan, has decided to liquidate the company in respect of a bankruptcy procedure, reported KazTAG citing the announcement of creditors that was made public on Tuesday.
On the eve, the lenders also made an appeal to the economic court on approval of the decision. Meeting of the Economic Court of Tashkent on consideration of the bankruptcy of Tractor Plant will be held on April 27.
Tashkent Tractor Plant was organized in 1942. After the war it specialized on the production of cotton and universal tractors. The design capacity - 12 thousand tractors and more than 13 thousand trailers. However, in recent years due to the low purchasing power of the domestic market and the lack of modern technology in the production capacity,  the plant was loaded only by 20%.
In May 2014 Uzbekistan once again created a holding company of Agricultural Engineering "Uzagroprommashholding". The holding company will include JSC "Tashkent Agricultural Machinery Plant" and JSC "Chirchik plant of agricultural machinery". Plants will be established on the basis of liquidated TTP and JSC "Chirchikselmash". The holding also includes JSC "Aggregate Plant", which will specialize on the production of components and spare parts for agricultural machinery.