The shoe leather production company Buligaar was established with Russian assistance on March 26, 1934. In 1976, Buligaar was restructured with Czechoslovakian technical support and assistance to produce 3750 cow hides and sheepskins annually. The company was privatized and transformed into a joint stock company in 1991. In 1998, Buligaar’s main plant was fitted with Italian machinery and technology under a government -to-government loan from Italy, and started to supply local shoe plants with high quality materials. Reconstruction has allowed Buligaar to produce 5000 cow hides and sheepskins annually and to produce aniline, semi-aniline, wash-leather, and buligaar leather, in addition to letting the company recycle and reuse chromium solutions which has a negative impacts on the environment. In addition to cow hides and sheepskins, Buligaar produces small leather accessories, Mongolian and buriadian traditional shoes, and police shoes.

 

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Buligaar’s main plant prepares raw material from local markets and imports chemical materials from European countries and Russia. As of 2007, 69.56% or 278,388 of Buligaar’s stock was owned by Italian investors Futura Fashion Company 9.26% or 37,068 by Batdorj N. Director of Buligaar JSC, 7.58% or 30490 by Xushaan D.and the rest by 758 small retailers.

The company has been selling public shares since April 25, 1992 with the initial price of 100 MNT per 1 unit of stock open to public. On Dec.20 1997, the company listed additional stocks offering 140, 000 shares. The additional offering price per share opened at 2000 MNT.

Ticker symbol-        MBG
Stock Code-           38
Total issues -         400 212

Market capitalization- 720, 3 million MNT (as of March 2008)

 

Source: www.mse.mn 

             http://www.un.org/esa/agenda21/natlinfo/countr/mongolia/eco.htm