The Auto Fortis factory in Andijan city, specialized in manufacturing automobile steering wheels, has been privatized. This was reported by Zamin.uz.
The enterprise was sold to the Uz-Hanwoo company through an e-auction. According to the auction results, the factory was valued at 43.1 billion soms.
Uz-Hanwoo company won the auction with a bid 27.4 percent higher than the starting price. According to the privatization conditions, the new owners are required to maintain the factory's current line of business for at least ten years.
This factory was established in 2010 and specializes in producing important spare parts for the automobile industry. From now on, the enterprise will become part of the Uz-Hanwoo company.
Uz-Hanwoo company has been operating in the region previously and plans to further expand its production capabilities through this deal. This, in turn, will create new opportunities for the local automobile industry.
