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The state will withdraw from the ownership of Belvest
27.07.2019 1897

The state will withdraw from the ownership of Belvest

The state concern Bellegprom, which owns a 55% stake in the shoe production Belvest, is ready to sell its stake in the enterprise. “Belvest Group” within five years will redeem a state share at market value with installments and indexation of payment, ”writes Tut.by

The decision was approved by decree of the President of the Republic of Belarus, Alexander Lukashenko. The investment project is estimated at 100 million rubles, of which at least 30 million rubles will be invested in Belvest's fixed assets. According to the agreement, the Vitebsk shoe factory should increase production over the past 3 years from the current 1,8 million to 3 million pairs of shoes per year. The current staff of 2400 must be maintained until the end of 2021. Until the end of 2022, the company will be provided with income tax benefits.

Currently, the Vitebsk factory, according to management, is operating at the limit of its capacity, in 2-3 shifts 7 days a week. The general director and co-owner of the Belvest factory, Yuri Sumaneyev, said that the factory does not have enough investments, but financial institutions and investment funds are ready to interact only with completely private companies.

The Vitebsk shoe factory is the leading shoe production in Belarus; in the USSR, the Belvest factory was one of the first joint ventures. The German concern Salamander left the footwear industry in 2002, in its place came the Russian company Polytex, which sells Belvest shoes in Russia.

Now the company's own retail network has 398 stores: 345 in Russia and 53 in Belarus.

The state concern Bellegprom, which owns 55% of the shares in the shoe production Belvest, is ready to sell its share in the enterprise. Belvest Group will buy out ...
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