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PILOT PRIVATIZATION PROGRAM IN
THE REPUBLIC OF BELARUS
This project is supported by a Trust Fund established by the Ministry of Finance of Austria under the supervision of the World Bank
Background of the pilot project
• The government of Belarus has in recent years embarked on a gradual reform process aimed at fostering domestic and foreign private sector initiatives. Within the framework of a broader strategy aimed at attracting foreign investment in support of the economic modernization, a “case-by-case” privatization program is expected to target international strategic investors. The program is supported by a new Privatization Law issued on July 26, 2010, respective by laws and the new privatization Agency (NAIP) which was established on May 25, 2011 as a state institution subordinated to the Ministry of Economy of the Republic of Belarus. NAIP collaborates with the State Property Committee which manages government owned assets.
• The Ministry of Finance of Austria established a Trust Fund in November 2010 in the amount of US$5 million to support the Belarus privatization program for duration of up to five years. The Project will be executed under the administration and supervision of the World Bank. The objective of the Project is to implement a small scale case-by-case privatization program in accordance with international best practices in order to attract strategic investors.
• Eight medium sized SOEs for pilot cases have been identified for the Project and assigned to NAIP to privatize.
•Open Joint-Stock Company “Baranovichi Reinforced Concrete Products Plant” (Short name: OJSC “Baranovichi KZBK”)
•Web-site: www. zhelezobeton.by
NAME OF THE COMPANY
•Production of reinforced concrete and concrete constructions and products (96% of sales)MAIN ACTIVITY
•Production of wall blocks; ready-mixed concrete; construction metal products, plaster and cement;
•Blacksmithing, pressing, stamping, profiling, metal powder OTHER ACTIVITIES
•640 employeesPERSONNEL
100%
Private owners 0.975%
State
99.025%
INDICATORSYEAR
2009 2010 9M 2011Value of net assets, BYR mn 18,756 21,829 22,987Sales proceeds (products, work, services), BYR mn 62,719 84,291 92,652Profit from sales of goods, work, services, BYR mn 2 ,26 4,008 2,666Net profit, BYR mn 979 1,450 1,302Profitability of sold products, work, services, % 4.1 5.9 3.3Debtors’ products, BYR mn 1,724 3,228 9,848Accounts receivable, BYR mn 5,616 10,839 29,407Average wage, BYR thsd 1,263.8 1,666.6 2,053.3
(6M 2011)
BARANOVICHI REINFORCED CONCRETE PRODUCTS PLANT
Ownership structure
Financials
General informationGeneral information
Location
Baranovichi
Address: Bersona str. 14, 220050, Minsk, Republic of BelarusTel. +375 17 222 68 41, GSM: +375 29 996 06 [email protected]
BARANOVICHI REINFORCED CONCRETE PRODUCTS PLANT
PRODUCTS, WORK,
SERVICESOUTPUT
YEAR
2008 2009 2010 6M 2011
Precast reinforced concrete constructions
cu m 146 400
152 200 168 70088 922
Bed plates thsd units 657 250 323 145Ready-mixed concrete cu m 9 592 14 784 12 680 6 235Building mortar cu m 888 1 037 782 366Commercial reinforced steel t 18 12 16 4Industrial work and services t 16 12 10
Production
KEY ADVANTAGES
Proximity to international markets such as Poland and Ukraine
Access to various modes of transportation including railways and highway E35 which leads to Moscow and Warsaw
45 years experience
Raw materials purchased directly from Belarusian suppliers
Superior marketing expertise
Strengths of the Company
Sales
2009 2010 6 months of 2011
0
20
40
60
80
100
80.2 73.4 72.8
19.8 26.6 27.2
Structure of sales, %
Domestic market External market
The main foreign customer is Russia. Besides Russia the company is actively increasing its exports to Lithuania, Latvia, China and other countries.
The Company`s activities are certified for compliance with:ISO 9001-2009 ISO 18001-2009
BELSANTEKHMONTAZH-2
Ownership structure
General information
Location
Financials
•Open Joint-Stock Company “Belsantekhmontazh-2 ” (Short name: OJSC “Belsantekhmontazh-2 ”)
•Web-site:www.bstm2.byNAME OF THE COMPANY
•Installation, sanitary engineering and ventilation works at the facilities of the industrial, residential, social infrastructure, healthcare and other sectors.
MAIN ACTIVITY
•Manufacture of gate valves, pipe and ventilation, pre-insulated pipes for heat pipelines;
•Production of pipeline fixtures, inflow chambers of flexible air ducts, plastic siphons, filters, adjustable and fixed bar grilles and many other metal structures
OTHER ACTIVITIES
•2000 employeesPERSONNEL
100%
Private owners 23.05%
State
76.95%Minsk
Grodno
Borisov
Brest Pinsk
Baranovichi
Lida
Soligorsk
INDICATOR 2009 2010 9M 2011Net assets value, BYR mn 39,481 51,450 57,369Revenue from sales of goods, works, services, BYR mn 190,317 246,606 239,606Goods, works, services sales profit, BYR mn 11,126 16,475 12,284Net profit, BYR mn 8,234 12,315 8,699
Goods, works, services sales margins, % 5.8 6.7 4.1
Receivables, BYR mn 21,482 30,570 50,590
Payables, BYR mn 25,498 38,493 50,469
Average wage, BYR mn 1,411 1,761 2,218 (6M 2011)
Production
Strengths of the Company
Sales
BELSANTEKHMONTAZH-2
The Company`s activities are certified for compliance with:ISO 9001-2001
Address: Bersona str. 14, 220050, Minsk, Republic of BelarusTel. +375 17 222 68 41, GSM: +375 29 996 06 [email protected]
Goods, works, services Output Year
2009 2010 6M 2011Construction BYR mn 136,926 163,091 96,063
Production BYR mn 25,440 33,726 19,958
Minsk-arena
National Library
Hotel “Europe 5*
Minsk Railway Station
KEY ADVANTAGES
Broad experience (among the completed projects are the Minsk Automobile/Tractor/Engine Plants, Grodno Association Azot, Soligorsk Potash Integrated Plant, Yubileinaya, Planeta, Belarus and Europe Hotels, Palace of the Republic, National Library, Minsk Subway)
Solid cooperation with foreign companies
Construction works held abroad
Main customers include:
Construction companies Contracting organizations Wholesale and retail companies Industrial enterprises
2009 2010 6 months 2011
0
20
40
60
80
100
99.3 99.3 100
0.700000000000001
0.700000000000001
Sales structure, %
Local market External market
AVTOMAGISTRAL
Ownership structure
Financials
General information
Location
•Open Joint-Stock Company “Avtomagistral” (Short name: OJSC “Avtomagistral”)
•Address: 8 Kizhevatova St., 220099, MinskNAME OF THE COMPANY
•Construction of roads, airfields and sports facilities (40.8% of the total revenues for 2010). MAIN ACTIVITY
•Sale of asphalt, bitumen emulsion, provision of road transport services, leasing of facilities, machinery, and equipment.
OTHER ACTIVITIES
•982 employeesPERSONNEL
100%
Private owners 1.89%
State
98.11% Minsk
INDICATORSYEAR
2009 2010 9M 2011
Net assets value, BYR mn 63,990 70,723 72,183
Revenues from sales of products/work/services, BYR mn 56,315 70,853 67,812
Profit from sales of products/work/services, BYR mn 2,735 3,563 2,825
Net profit, BYR mn 513 682 856
Sales margins, % 6.1 6.4 4.9
Accounts receivable, BYR mn 5,257 5,200 10,546
Accounts payable, BYR mn 7,673 7,550 13,489
Average wages, BYR mn 1,041.2 1,176.51,392
(6M 2011)
Address: Bersona str. 14, 220050, Minsk, Republic of BelarusTel. +375 17 222 68 41, GSM: +375 29 996 06 [email protected]
Production
Strengths of the Company
Sales
AVTOMAGISTRAL
PRODUCTS, WORK, SERVICES OUTPUTYEAR
2009 2010 6M 2011
Volume of contract repair and construction
work performed by the company’s staff,
including:
BYR mn 51,516 61,388 27,362
- construction BYR mn 14,485 13,524 3,909- major repairs BYR mn 13,289 14,638 8,702- ordinary repairs BYR mn 9,423 19,251 3,639- maintenance BYR mn 12,668 13,179 10,879- production facilities repairs BYR mn 1,651 796 233
KEY ADVANTAGES
execution of contract work by mobile units
extensive network of technological bases of branches located in regions that have asphalt plants, lines of gravel enhancement and washing, storage tanks for binding substances enable the Company to carry out mobile road work throughout the country
production of the most popular road building materials on their own (cationic bitumen emulsions, asphalt concrete mixtures)
The Company`s activities are certified for compliance with:ISO 9001-2009 ISO 14001-2005 ISO 18001-2005
2009 2010 6 months of 2011
0
20
40
60
80
100
100 99.7 100
Sales structure, %
Domestic market Foreign market
Main customers for the company`s services and products are Belarusian enterprises. Thin coating of roads with hot asphalt mixtures is the most sustainable type of work in the market. The main customers for cationic bitumen emulsion are enterprises of Minsk and Grodno Oblasts.
•Open Joint-Stock Company “Construction and Mounting Trust No. 8” (Short name: OJSC “CMT No. 8”)
•Address: 37 Kalvariyskaya str., 220073 Minsk
NAME OF THE COMPANY
•Construction of roads, airfields and sports facilities MAIN ACTIVITY
•Production of lumber, steel, asphalt concrete, mortar and concrete.OTHER ACTIVITIES
•592 employeesPERSONNEL
CONSTRUCTION AND MOUNTING TRUST №8
Ownership structure
Financials
General informationGeneral information
Location
100%
Private owners 0.21%
State
99.79% Minsk
IndicatorsYear
2009 2010 9M 2011
Net assets value, BYR mn 44,675 50,776 52,007
Revenues from sales of products/work/services, BYR
mn
79,695 81,915 108,719
Profit from sales of products/work/services, BYR mn 383 1,716 3,430
Net profit, BYR mn 141 617 1,251
Sales margins, % 0.6 2.6 3.8
Accounts receivable, BYR mn 4,048 4,984 31,427
Accounts payable, BYR mn 3,959 8,646 22,262
Average wages, BYR mn 1,368.8 1,548.6 1,921.1(6M 2011)
Production
KEY ADVANTAGES
Relatively high productivity compared to its main competitors (CMT №1, CMT №4, CMT №5, CMT №6)
20 years experience
Strengths of the Company
Sales
The Company`s activities are certified for compliance with:STB ISO 9001-2001 STB ISO 14001-2005 STB ISO 18001-2005
CONSTRUCTION AND MOUNTING TRUST №8
PRODUCTS, WORK, SERVICES, BYR mnYEAR
2009 2010 6M 20111. Public roads 35,852.5 53,408.9 52,916.1
Construction 32,771.1 49,690.2 47,453.7 Major repairs 454.5 2,201.3 1.4 Ordinary repairs 2,626.8 1,517.4 5,461
2. Other customers 32,997.4 21,933.2 11,186.2Construction 14,348.3 15,843.2 3,785.1
Major repairs 18,183.3 3,391.0 7,401.1Ordinary repairs 465.8 2,699.0
3. Total 68,849.9 75,342.1 64,102.3
Over the recent years the company has carried out its activities on the domestic market only. Main markets include predominantly Minsk City, Minsk Oblast, Mogilev Oblast, and Vitebsk Oblast. For 20 years of its operations, the Company has built over 830 km of public roads, including of national importance. It has built 224 thousand square meters of housing, as well as a number of sites for industrial purposes.
STRUCTURE (%) 2009 2010 6M 2011Domestic market 100 100 100Foreign market n/a n/a n/aTotal 100 100 100
BELGAZSTROY
Ownership structure
General information
Location
•Open Joint-Stock Company “Belgazstroy” (Short name: OJSC “Belgazstroy”)
•Address: 4 Sovetskaya str., MinskNAME OF THE COMPANY
•main contract activity and construction of gas pipelines, provision of gas supply, installation of engineering networks and structures, construction of heat pipelines from pre-insulated pipes, polymer pipe insulation for gas pipelines and pre-insulation for heat pipelines
MAIN ACTIVITY
•manufacture of units, parts and metal structures, welded joints quality control, tank diagnosticsOTHER ACTIVITIES
•850 employeesPERSONNEL
Financials
100%
Private owners 49.4%
State
50.6%
MinskStolbtsy
Vitebsk
Borisov
Polotsk
Osipovichi
Bobruisk
INDICATORSYEAR
2009 2010 9M 2011
Net asset value, BYR bn 24,851 30,362 34,008Revenue from sales of goods, works, services, BYR bn 67,682 52,992 85,285
Goods, works, services sales profit, BYR bn 4,270 5,268 6,494Net profit, BYR bn 2,515 3,244 5,241Goods, works, services sales margins 7.98 7.78 7.61Receivables, BYR bn 8,631 9,811 21,147Payables, BYR bn 11,094 15,336 24,668Average wage, BYR,’000 2,272 3,944 1,859 (6M 2011)
Production
Strengths of the Company
Sales
BELGAZSTROY
The Company`s activities are certified for compliance with:ISO 9001-2009
PRODUCTS, WORK, SERVICES OUTPUTYEAR
2009 2010 6M 20111. Welded joints quality control BYR, bn 0.256 0.351 0.1452. Main contract activity BYR, bn 0.714 0.497 0.7793. Provision of advisory and consultancy services for PDVSA GAS in construction of gas pipeline networks and structures in Barinos
BYR, bn 1.284 4.146 2.689
4. Goods sale BYR, bn n/d n/d 0.376
KEY ADVANTAGES
a strong position in the local market
demand for the company`s products abroad
a strategic partner - PDVSA GAS
long-term contracts for products supply
Main sales markets: Republic of BelarusMain competitors at the internal market: SPA Beltopgaz At the external market, in 2008 Belgazstroi OJSC concluded a contract with PDVSA GAS for providing advisory and consultancy services in the sphere of construction of gas pipeline networks and structures in Barinos (Bolivarian Republic of Venezuela).
2009 2010 6 months 20110%
20%
40%
60%
80%
100%
4317
33
5783
67
Sales structure, %
Local market External market
MEDPLAST
Ownership structure
General information
Location
Ownership structure
•Open Joint-Stock Company “Medplast” (Short name: OJSC “Medplast”)
•Web-site: www.medplast.byNAME OF THE COMPANY
•Production of the single-use syringeMAIN ACTIVITY
•Manufacturing of goods used in constructionOTHER ACTIVITY
•271 employeesPERSONNEL
100%
Private owners 0.1%
State
99.9%
Gomel
INDICATORS YEAR
2009 2010 9M 2011
Net assets value, BYR mn 39,144 48,540 55,518
Revenues from sales of products/work/services, BYR
mn
19,712 23,804 29,192
Profit from sales of products/work/services, BYR mn 1,684 3,181 7,042
Net profit, BYR mn 1,968 1,685 3,500
Sales margins, % 8.3 15.4 24.1
Accounts receivable, BYR mn 3,840 4,235 6,209
Accounts payable, BYR mn 2,924 2,127 2,017
Average wages, BYR mn 990.1 1,300.6 1,664.6 (6M 2011)
Production
Strengths of the Company
Sales
MEDPLAST
The Company`s activities are certified for compliance with:ISO 9001-2001
PRODUCTSOUTPUT (BYR mn)
2009 2010 6M 2011
Single-use injection syringes 16,412 (119 mn pieces)
21,937 (135 mn pieces)
19,833 (84 mn pieces)
Other plastic products 152 214 230Output, total 16,564 22,151 20,063
KEY ADVANTAGES
Advantageous location – proximity to Russia and Ukraine
Leading position at the market (about 80% in 2010)
The main market for export sales is Russia. The major strategic partners on this market are the companies ‘NikKomed’Ltd. and ‘Camelia’Ltd.
Currently the company is partnering with ‘BogMark Ukraine’ Ltd. for the registration, certification and further distribution of syringes in Ukraine.
2009 2010 6 months of 20110
20
40
60
80
100
90.6 87.3 91.9
9.4 12.7 8.1
Sales structure, %
Domestic market Foreign market
KONFA
Ownership structure
Financials
General information
Location
•Open Joint-Stock Company “Konfa” (Short name: Konfa OJSC)
•Web-site: www.kk.byName of the company/info
•Confectionery goods manufacture (spice cakes, cookies, pan goods, wafers and soufflé sweetmeat)Main activity
•6.7 thousand tons of confectionery goods/year•The total production floor space is 3,720 and the volume of production premises is 23.5 thsd m3.
Production capacity
•375 employeesPersonnel
100%
Private owners
75%
State
25%
Molodechno
INDICATORSYEAR
2009 2010 9M 2011
Net assets value, BYR mn 2,432 3,097 4,120
Revenue from sales of goods, works, services, BYR mn 22,078 27,311 43,694
Net profit, BYR mn 56 347 1,028
Goods, works, services sales margins, % 3.8 7.0 7.5
Receivables, BYR mn 4,335 5,290 9,127
Payables, BYR mn 3,759 4,591 6,391
Average wage, BYR thsd 741 904 1,133(6M 2011)
Production
Personnel
Sales
KONFA
2006 2007 2008 2009 20100
1,000
2,000
3,000
4,000
5,000
6,000
0
1,000
2,000
3,000
4,000
5,000
6,000
3,824 4,1235,027 5,165 5,354
Output structure in 2006-2010
Spice cakes Cookies Wafers Souffle sweetmeatPan goods TOTAL
17%
31%
13%
9%
10%
12%
8%
Personnel structure by age
under 25 25-3036-4041-4546-5051-5556 and more
375 friendly and cohesive people presently work in the Company.The Company is represented by a young and enthusiastic team of employees. More than 60% of the staff are under 40 years old.
Konfa OJSC sells its products predominantly in the local market. The main export markets are Russia and Germany. Wholesale depots and retail chains are among the main customers.
2009 2010 6M, 20110
20
40
60
80
100
91.1 95.4 97.4
8.9 4.6 2.6
Structure of sales, %
Local market External market
MINSK MARGARINE PLANT
Ownership structure
Financials
General information
Location
•Open Joint-Stock Company “Minsk Margarine Plant”•Web-site: www. margarin.by NAME OF THE COMPANY
•production of margarine products (margarines, cooking and confectionery fats), mayonnaise, production of ketchup, horseradish and mustard.
MAIN ACTIVITY
•disposal of waste-soap stock;•refining, freezing out and deodorization of fats and oils;•packing of vegetable oil.
OTHER ACTIVITIES
•501 employeesPERSONNEL
100%
Private owners 6.2%
State
93.8%Minsk
INDICATORS YEAR
2009 2010 9M 2011
Net assets value, BYR mn 35,126 44,277 56,924
Revenues from sales of products/work/services, BYR mn 69,535 95,613
127,487
Profit from sales of products/work/services, BYR mn 7,469 7,872 20,175
Net profit, BYR mn 4,006 5,220 14,257
Sales margins, % 14.1 10.3 17.8
Accounts receivable, BYR mn 13,661 14,239 2,357
Accounts payable, BYR mn 7,120 5,496 14,900
Average wages, BYR mn 1,177.9 1,421.7
1,796.2(6M 2011)
Address: Bersona str. 14, 220050, Minsk, Republic of BelarusTel. +375 17 222 68 41, GSM: +375 29 996 06 [email protected]
Production
Strengths of the Company
Sales
The Company`s activities are certified for compliance with: STB ISO 9001-2009 since 2006 HACCP in the production of
mayonnaise products since 2010
MINSK MARGARINE PLANT
PRODUCTS, TONS 2008 2009 2010 6M 2011
Margarine 5,630 6,995 8,454 4,669Mayonnaise 6,658 6,278 5,597 3,059 Packed vegetable oil 2,985 1,926 2,714 2,045Unpacked vegetable oil 7 182 2,506 n/aKetchup 286 523 427 n/aHorseradish 37 92 65 n/aMustard 10 74 64 n/a
KEY ADVANTAGES
an advantageous location in the center of Minsk
highly-qualified staff
natural high-quality products
20% market share for margarine products, 10% - for mayonnaise products
The Company mainly operates on the domestic market, but is increasing its sales abroad. Main consumers of the products are state and private enterprises of trade and industrial processing.
2009 2010 6 months of 2011
0
20
40
60
80
100
99 98.2 96.3
1 1.8 3.7
Sales structure, %
Domestic market Foreign market