Borjomi mineral water company offers to transfer shares to Gov't
The company said that the move would enable the Government to participate in the management of the company following “interruptions” to its business since the Russian invasion of Ukraine that started in February. Photo: Borjomi.
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IDS Borjomi, the Georgian company producing and exporting the Borjomi mineral water, announced today it had submitted a formal proposal to transfer a part of its shares to the Government of Georgia for free.
The company said that the move would enable the Government to participate in the management of the company following “interruptions” to its business since the Russian invasion of Ukraine that started in February.
Due to the recent negative developments in the region, IDS Borjomi International has been experiencing interruption of business and difficulties with banking services as a result of which it shut down its production factories in Borjomi, Georgia with over a thousand of its employees facing the risk of unemployment," the company said.
One of the largest mineral water producers in Georgia, the company announced in April about the suspension of production at both of its plants in Georgia, as the war in Ukraine and sanctions on Russian-owned businesses created "difficulties" for the producer in dealing with its major markets.
- Borjomi mineral water company suspends production after Ukraine war, sanctions create "difficulties"
IDS Borjomi is partly owned by Alfa Group, one of the largest privately owned financial investment conglomerates in Russia, with 60 percent of the mineral water company's shares owned by the conglomerate since 2013.
The founder of Alfa Group is Russian businessman Mikhail Fridman, who has been listed by a number of countries among the sanctioned oligarchs since the start of hostilities in Ukraine.
IDS Borjomi, one of the largest mineral water producers in Georgia, has temporarily suspended production at both of its plants in Georgia after the war in Ukraine and sanctions on Russian-owned businesses created "difficulties" for the producer to deal with its major markets, the company announced on Friday.
Borjomi mineral water company in central Georgia and about 350 workers who went on strike on May 18 demanding higher salaries and better working conditions have finally reached the agreement, announce that the strike is over.
Mineral water company Borjomi has announced it is ready to meet the demands of about 350 workers of bottling factories in the centre of the country who went on strike on May 18 and increase their salaries, however due to the 'destructive actions' of the organizer of the strike, the trade union, 'it is impossible to negotiate directly with the workers', says the company.
Borjomi mineral water company in central Georgia has announced the temporary suspension of operations at two of its plants to ‘avoid provocations staged by activists’.
The formal proposal of IDS Borjomi, the Georgian company producing and exporting the Borjomi mineral water, to transfer a part of its shares to the Government of Georgia for free, and the ongoing public employment programme were discussed in a meeting of the Economic Council, chaired by the Georgian Prime Minister Irakli Garibashvili, on Friday.
About 400 employees of IDS Borjomi, one of the largest mineral water producers in Georgia, went on strike earlier today demanding reinstatement of 50 coworkers dismissed following the company’s announcement of a “temporary suspension” of production in late April.
IDS Borjomi, one of the largest mineral water producers in Georgia, has denied the accusation by striking employees of the company who earlier today said the enterprise was intending to replace the protesting workers with other staff from Georgia, Russia and Ukraine.
The Georgian state will become a shareholder and co-owner of IDS Borjomi, one of the largest mineral water producers in Georgia, Prime Minister Irakli Garibashvili said on Monday.
The Georgian Government has completed talks with shareholders of IDS Borjomi, one of the largest mineral water producers in Georgia, and will become a co-owner of the enterprise without having to make expenses for the move, Prime Minister Irakli Garibashvili announced on Monday.
Hundreds of striking workers of IDS Borjomi, the largest producer of mineral water in Georgia, will continue their work at the factories of the company after reaching an agreement with the management on Tuesday, the Georgian Labour Ministry has announced.