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Elektromed Elektronik confirms payment of $ 35 million to Almazbek Atambayev

Elektromed Elektronik confirmed payment of $ 35 million to Almazbek Atambayev. The information department of the company informed 24.kg news agency.

According to it, the company «Thermikel Group» was founded in 1957, it exports its products to more than 70 countries, from Argentina to England, from Germany to Tunisia. Electromed, a member of Thermikel, is the fourth leading meter manufacturer in the world. It produces electronic meters of natural gas, electricity and water.

«Recently, the Kyrgyz media, basing on the unreasonable comments of the citizen Edil Baisalov, published information about our firms. This wrong, untruthful and incomplete information harms us. In this regard, there was a need for our comments," the company explained.

«The firm, like any other person, has personal rights. In particular, financial statements and any information are commercial confidentiality. Access to this information should only be for a certain number of persons, in the case of the availability of information to other persons, in particular competitors, chances of causing a serious loss to the firm are high; the information is also not disclosed to third parties and state institutions for the success and efficiency in the economic life of the firm. These actions in Turkey are a crime," Elektromed Elektronik reported.

«We want to openly inform the citizens of Kyrgyzstan that in 2003 we paid Almazbek Atambayev $ 35 million for 90 percent of the shares of Gülcanlar Elektrik Elektronik Ltd.Şti. with registration number 92720, with registered capital as of December 27, 2002 in the amount of 50 billion Turkish lira, center of which is located in the free zone of Izmir, ESBAŞ.»

Sale of a 90 percent stake in Gülcanlar Elektrik Elektronik Ltd.Şti. was estimated at 45 billion Turkish liras (Turkey held denomination on January 31, 2005).

«According to the Regulations on the Free Zone of Turkey, this procedure didn’t entail tax losses for the state. The registered capital and real prices of firms can be different. The procedure was carried out as follows: 90% of the shares of the company with registered authorized capital of $ 30,000 dollars in 2002–2003 was purchased from Almazbek Atambayev for $ 35 million. In 2006, the process of financial liquidation of the company was completed, and Gülcanlar, with all its financial and physical availability, continued to operate as Elektromed Elektronik," the company added.