Itema, Uzbekistan Government Sign Agreement

Itema, Uzbekistan Government Sign Agreement
The Itema Group, Italy, and the Uzbekistan government have signed a protocol agreement for the company to supply textile machinery to the Central Asian country.Present at the signing ceremony, which took place at the headquarters of Itema’s Promatech subsidiary, were Itema CEO Miro Radici and Uzbekistan Minister Azamkhon Bakhramov, who also is the president of Uzbekegilsanoat, a company that represents the light industry.

Itema CEO Miro Radici (left) and Uzbekistan Minister Azamkhon Bakhramov The Uzbekistan government’s goal is to increase the country’s cotton processing capacity and to double the quantity of finished products in three years. Currently, the country is capable of processing about 20 percent of its annual cotton production of 1.2 million tons. Under the agreement, the Uzbekistan government will cooperate with the Itema Group, particularly with its two subsidiaries, Promatech and Savio S.p.A.The Itema Group said the agreement presents an opportunity for the company to enter a “very promising market that could ensure many future orders.”
Fall 2004