The company representative said that the company’s liquidation was foreseen in a presidential decree. In accordance with the decree, a government commission has been entrusted to develop a proposal for the reorganization of Uzselkhozmash’s subsidiaries within a period of a month.

"One of the reorganization options being considered is the possibility of liquidating the majority of profile enterprises. Mostly likely, the Tashkent tractor plant will remain and will be enhanced, while the majority of the companies await the same fate as the holding," the representative said.

Uzselkhozmash holding unites 13 enterprises and associated members of Uzbekistan’s agricultural machine building industry, including three joint ventures - UzKeisTractor, UzKeisMash and UzkeisService. The state holds a 90.42% stake in Uzselkhozmash. U.S. company Case New Holland owns 5.8% of the shares in the holding.

The State Property Committee of Uzbekistan has planned since 1996 to sell the 90.42% state packet in Uzselkhozmash to foreign investors, as well as share packets in nine joint-stock companies, which are subsidiaries of the holding. However, these plans have yet to be implemented.