OREANDA-NEWS. July 19, 2011. Belarusian Metal Plant (BMZ) is expected to be transformed into an open joint-stock company by the end of 2011, BMZ General Director Anatoly Savenok told reporters on Wednesday.

“There is an order of the Industry Ministry signed by the minister. BMZ is instructed to issue shares by the end of this year. The order was issued three weeks ago.”

BMZ does not plan to sell shares to any company. “I think direct sales of assets are out of the question,” Savenok said, adding that the assets of the producer had not been valuated yet.

On Tuesday, First Deputy Prime Minister of Belarus Vladimir Semashko said the market value of BMZ was USD 8 billion.

BMZ was established 1984. It exports 85% of its make, non-CIS countries account for 70% of exports.