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May 05, 2015 8:38 AM ET

Textiles, Apparel and Luxury Goods

Company Overview of Bahir Dar Textile Share Company

Company Overview

Bahir Dar Textile Share Company manufactures and markets textiles. The company was founded in 1954 and is based in Bahir Dar, Ethiopia.

P.O. Box 15

Bahir Dar,  

Ethiopia

Founded in 1954

Phone:

251 8 200104

Fax:

251 8 202012

Key Executives for Bahir Dar Textile Share Company

Bahir Dar Textile Share Company does not have any Key Executives recorded.

Bahir Dar Textile Share Company Key Developments

PEPSA Fails To Sell Stakes In Five Firms

The Public Enterprises Privatization Service Agency (PEPSA) has failed to sell stake in any of the five enterprises it had targeted for the first half of the 2014-2015 fiscal year. The Agency’s Communications Head, Wondafrash Assefa told Fortune that the possible sales failed because no bidders could be attracted. These companies were Bahir Dar Textile Share Company, Kombolcha Textile Share Company, Agricultural Mechanization Service Enterprise, Ethiopia Crown Cork & Can Manufacturing Industry Share Company, and Billito Siraro Agricultural Development Enterprise. Accoridng to the official, companies that were interested to buy the enterprise were found to be financially incapable compared to the current status of these enterprises. He stated, “We believe that our enterprises are profitable, so we determine their prices based on market evaluation.” With respect to this, PEPSA has already announced a bid for the aforementioned three companies whose financial opening will be made in March 5, 2015. Moreover, it insisted companies to buy enterprise via negotiation schemes such as Bahir Dar S.C and Kombolcha Textile S.C.

PPESA Seeks Buyers For Bahir Dar And Kombolcha

The Privatisation & Public Enterprises Supervising Agency is looking for buyer for Bahir Dar Textile Share Company and Kombolcha Textile Share Company. The private buyers need to submit their applications up till October 6, 2014. Previously, the Agency had floated tenders for both companies with an initial price of one billion Birr for each, but no one showed any interest. "We focus on good proposals and business plans from investors that can make the companies more profitable, rather than simply a high monetary offer," said Wondafrash Assefa, the Agency's communications head.

One Out Of Six Enterprises Attract Bidders In Privatization

Public Enterprises Supervising Agency (PPESA) is planning to sell stakes in firms. Only a warehouse has attracted possible suitors out of the six public enterprises offered for sale by PPESA, in its latest round tender. The tender was announced on May 14, 2014, and remained open until 15 minutes before a financial opening was held on Tuesday, July 22, 2014. The tender involved seven companies, five of which have previously failed to attract any buyers. Billito Siraro Agricultural Development Enterprise and Ethiopian Fibre Products Factory are up for sale for the first time. During the financial opening, five bidders provide offers only for the warehouse of the Ethiopian Fibre Products Factory. No one made offers for Bahir Dar Textile Share Company, Kombolcha Textile Share Company, Agricultural Mechanization Service Enterprise, Transport Construction Design S.C., and Billito Siraro. The financial opening for the Ethiopian Mineral Development Share Company is extended till July 6, 2014, following the request from the bidders, according to Berhane Gebremedihen, Chairperson of the Evaluation Committee at PPESA. The highest bid for the warehouse came from G-Seven Trading And Industry. “After the court reviewed the case, it ruled in the favour of the Agency earlier this year, so we offered the warehouse for sale again this year,” said Wondafrashe Assefa, Corporate Communications Head with the Agency to Fortune. Both G Seven and Dukem Textiles participated in this round to acquire the warehouse. The evaluation committee intends to conduct a technical evaluation in a few weeks time and the Agency's final decision on the warehouse will be announced in a month's time after the Board of the Agency gives approval, according to Wondafrashe Assefa. According to him, the agency will float another tender for those enterprises that do not mange to attract any bidder.

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