Lviv PrJSC “Proektno-konstruktorskyi instytut konveyerobuduvannya” (Design and Engineering Institute of Conveyor Construction) at a transparent online auction: the price increased 423 times to UAH 100 million

On February 26, 2021, an auction on the privatization of a state-owned block of shares in the amount of 72.6920% of the authorized capital of PJSC "Design and Construction Institute of Conveyor Construction", as a result of which the state budget should receive UAH 100 million, was held.

35 participants competed for the right of ownership of the asset at the open auction, which increased the price 423.4 times - from the starting UAH 236,140 to UAH 100,000,000.

PJSC "Design and Construction Institute of Conveyor Construction", located in Lviv, is the only specialized institute in Ukraine for the development and design of transport systems, lifting and transport equipment of continuous process.

Among main activities are research and experimental development in the field of natural and engineering sciences and engineering tests and research.

In the institute is has been accumulated significant intellectual capacity. The institute’s technical archives store design documents on more than 30 types of transport systems equipment for mechanization and automation of loading, unloading, transport and warehousing that were developed by the institute at different times and went into production on more than 2 thousand enterprises of diverse industrial fields in Ukraine and other countries.

In recent years, the unique enterprise has not been used to its full potential, and a significant amount of profits came from renting out the premises. Attracting an efficient investor through transparent privatization will allow the enterprise to obtain investments and carry out renovations.

As a result of a successful auction, the enterprise will have a chance to renew and develop, the investor will obtain a unique and promising business, the state and the city of Lviv will get tax revenues to the budget and jobs. According to the privatization terms, the new owner is obliged to ensure the preservation of the main activity, to develop new types of products, works and services, as well as to prevent the dismissal of employees.

Information on the upcoming privatization auctions can be found by following the link.