British Seten Enterprises Ltd has raised its share in Chirchik Transformer Plant (CTP) to 98.5% by purchasing the additionally floated stock for almost US$3.33 million, Uzeltehprom informed.

In the late 2005, Seten Enterprises Ltd bought a 34.5% stake in CTP from the state for US$1.2 million. Later, it increased its share to US$78.5% by buying out the shares of the additional float, as a part of its investment obligations. Now the remaining 1.5% of the company’s shares belong to minority shareholders – individual investors.

CTP was set up in 1942 on the base of the Electropult Plant moved to Leningrad. The plant currently specializes in the production of power transformers, component transformer sub-stations and high-voltage equipment with the voltage classes of 10, 35, 110 kV and the power capacity of up to 63,000 kVAr.

In 2006, the CTP’s net profit grew 11.1 times to 1.173 billion soums, as revenue from sales grew 2.1 times to 10.07 billion soums. The enterprise’s assets grew 1.5 times to 10.37 billion soums in 2006.