The shareholders of JSC "Ahangarancement" decided to reorganize the company by transforming it into an LLC. The Telegram channel "CorpInfo" was the first to draw attention to this. The relevant decisions were approved at the general meeting of shareholders held on November 21, 2024, and the changes were registered the following day, on November 22, 2024.

All shareholders unanimously voted in favor of the transformation. The decision was supported by 99.3% of the shareholders, totaling 4,884,143 votes.

The new company has become the legal successor of the JSC for all obligations and rights. Vitaly Ilyin Olegovich has been appointed as the General Director, having previously held the same position. His contract is set to be effective from the registration date—November 22, 2024—until March 2027.

It was also decided to cancel the shares of "Ahangarancement" and withdraw them from circulation after settling accounts with the shareholders.

As a result of the first three quarters of 2024, "Ahangarancement" reported a loss of 220.8 billion soums, whereas during the same period in 2023, the company recorded a profit of nearly 60 billion soums.

The main reasons for the losses include:

  • increased production costs: expenses rose from 599.9 billion to 660.8 billion soums;
  • a decline in gross profit, which decreased nearly tenfold (from 298.9 billion to 28.1 billion soums);
  • operating expenses amounting to 91.4 billion soums;
  • financial losses—the company incurred a loss of 14.5 billion soums from exchange rate differences and paid 19.1 billion soums in interest.

In January 2022, the "daughter" of USM Holdings, owned by Alisher Usmanov, became the owner of "Ahangarancement". Akkerman Cement acquired 98.4% of the plant's shares for 1.9 trillion soums, setting a record for the stock exchange.

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In 2023, Akkerman Cement, its Uzbek subsidiary, and "Ahangarancement" were subjected to blocking sanctions from the U.S. A working group led by Deputy Prime Minister Jamshid Khojaev was established to lift the restrictions on "Ahangarancement".

In 2024, the company delisted its shares from the stock exchange. The plant's securities were removed from the "Transit" category of the quotation list.

Earlier, Spot reported that Kyrgyzstan had initiated an anti-dumping investigation regarding imported cement from Uzbekistan.