Start from UAH 24.3 million: FSMU put the Poltava bakery plant up for auction

The State Property Fund of Ukraine (FDMU) has put the Poltava Flour Mill Plant up for privatization. The auction for the sale will take place on August 3rd. The starting price for the asset is 24.3 million hryvnias.

This decision to privatize the enterprise was made because it has been running at a loss while being state-owned. Over the past 3 years, the net losses amounted to 98 million hryvnias, and the total amount of accumulated debts to the state budget and employees exceeds 131 million hryvnias.

The State Property Fund has also published requirements for the future new owner, who must repay the debts within 6 months and maintain the enterprise's workforce. Privatizing the Poltava Flour Mill Plant offers the opportunity to develop the company with the funds of a private investor, thereby increasing tax revenues to the state budget, creating new jobs, and providing quality bakery products to the people.

The main activity of the enterprise is the production of flour and related products. It includes 168 real estate objects and structures with a total area of 74,974.8 square meters, as well as 28.3108 hectares of land designated for the placement and operation of essential, auxiliary, and ancillary buildings and structures for processing, engineering, and other industries. The enterprise also has 22 units of vehicles and special equipment on its balance sheet. The average number of employees as of March 31, 2023, is 70 people, and the total revenue from sales for the period from 2020 to the first quarter of 2023 is 13,538.7 thousand hryvnias.