The Cabinet of Ministers issued a resolution on September 16 handing over the state share’s in the authorized capital of UzIkkilamchiRangliMetal for trust management to SFI Management Group, a foreign company, the company said in a statement.
The move was aimed at “improving the management system and the efficiency of UzIkkilamchiRangliMetal's activities through implementing of advanced corporate management,” the statement said.
By the October 15 government resolution, the DG of UzIkkilamchiRangliMet, Farhod Abdullayev, who had been in charge of the company since 2011, was dismissed from his post due to his being moved to another job, with Konstantin Akulov becoming the new DG.
UzIkkilamchiRangliMetal is the only enterprise in Central Asia specializing in collection and processing of non-ferrous scrap and waste, the production of non-ferrous metal alloys and consumer goods. The company has a collecting points network throughout the country.
SFI Management Group, established in January 2017, specializes in the implementation of international standards for the management of production, foreign economic and investment processes.
Note: In 2017, SFI Management Group with the assistance of the chief of USM Holding Alisher Usmanov received in trust management the Uzbek Metallurgical Plant (“Uzmetkombinat”). The company also operates the Olmaliq Mining and Metallurgical Combine and the Tashkent Metallurgical Plant. In addition, SFI Management Group is the main shareholder of Pakhtakor FC and is currently implementing other projects in Uzbekistan.