-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Artel First Private Uzbek Manufacturing Company to Obtain Credit Rating
July 14, 2021 | Globe NewswireEstimated reading time: 1 minute
Artel Electronics LLC, Central Asia’s leading home appliance and electronics manufacturer and one of Uzbekistan’s largest companies, has received a first-time Fitch rating of "B" with a stable outlook. Artel therefore becomes the first private manufacturing company in Uzbekistan to be assigned a rating from one of the “big three” international rating agencies.
In its publication, Fitch praised Artel’s “leading domestic market position,” “expected strong funds from operation,” and “successful and long-term cooperation” with internationally renowned original equipment manufacturers. The rating follows a rigorous assessment of the company’s financial and commercial position, and provides an independent benchmark of the its reliability as a borrower.
Recent business reforms in Uzbekistan have enabled the country’s leading companies to restructure, access international financing opportunities and explore foreign markets. Capitalising on this, Artel Electronics has been successfully revising its existing processes to follow international best practice in financial reporting and ESG. This includes the introduction of a professional supervisory board and the audit of the company’s consolidated IFRS accounts for the last three years by Deloitte.
Bektemir Murodov, CFO, Artel Electronics LLC, stated: “We are delighted to have received our first rating from Fitch today. This moment follows months of hard work by the team at Artel as we work to align ourselves with the best global standards of corporate governance.
The rating will help us deepen our cooperation with our partners, access new forms of financing, and is the natural next step towards entering international capital markets.”
Artel was founded in 2011 with limited product lines. Since then, the company has grown to produce a wide range of household appliances and electronics, with over 10,000 employees operating in all regions of Uzbekistan. Artel currently exports its products to over 20 countries throughout the CIS and the Middle East, and the company is also the regional partner of Samsung and Viessmann.
Suggested Items
New Yorker, Major League Electronics Sign New Franchised Distribution Agreement
05/06/2024 | New Yorker Electronics Co.New Yorker Electronics, global distributor of electronic components, recently announced a new franchised distribution agreement with Major League Electronics, renowned manufacturer of interconnect products.
AT&S Brings High-Tech to the Museumsquartier
05/06/2024 | AT&SAT&S, as a “MQ goes Green” partner, has prepared special highlights for the occasion: Visitors aged eight and above can embark on an interactive journey through the fascinating world of microelectronics.
May Issue of SMT007 Magazine: Coming to Terms With AI
05/06/2024 | I-Connect007 Editorial TeamIn the May 2024 issue of SMT007 Magazine, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
05/03/2024 | Nolan Johnson, I-Connect007This week’s most important news is strategic—and telling. When one puts together the IPC industry reports, we simply have to include the recent conversation with Shawn DuBravac and Tom Kastner. On the design side, check out the latest “On The Line With…” podcast featuring Brad Griffin from Cadence Design Systems, discussing SI and PI in the realm of intelligent system design.
IMI Welcomes New CEO
05/03/2024 | IMIIntegrated Micro-Electronics, Inc. (IMI),The IMI Board of Directors announced, in a disclosure dated April 25, 2024, the appointment of Louis Sylvester Hughes, Chief Executive Officer (CEO).