Business news from Ukraine

Business news from Ukraine

CZECH VECTOR ENERGY TO BUY 49.9% OF IVANO-FRANKIVSK VALVE PLANT’S SHARES

Czech company Vector Energy s.r.o. (Plzen) plans to buy 1.58 million ordinary registered shares of PJSC Ivano-Frankivsk Valve Plant, thus the buyer will have a 49.99% stake in this enterprise.
Vector Energy currently does not own shares of the plant, the company’s announcement in the National Securities and Stock Market Commission’s bulletin.
According to the Czech Trade Register, Vector Energy was registered in 2014, the director and owner of the company is Roman Shyliuk from Kyiv.
PrJSC Ivano-Frankivsk Valve Plant was registered in 1995. According to the National Securities and Stock Market Commission, its co-owners are PrJSC Energomashinvest and PrJSC S.V.T.A. whose ultimate beneficiary in the state register of legal entities and individuals is Abigail Silvan (West Indies, Grenada).
Serhiy Shyliuk is the head of PrJSC Ivano-Frankivsk Valve Plant since 2015.
According to the financial statements for 2017, Ivano-Frankivsk Valve Plant increased its net income by 77%, to UAH 52 million, reduced its net loss by 44%, to UAH 38.5 million.
The plant’s charter capital is UAH 159,800.

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UKRAINE INCREASES CHEESE IMPORTS BY 30%, SPENDS $32 MLN IN JAN-JULY

Ukraine exported 4,560 tonnes of cheese in January-July 2018, which is 6.1% less than in the same period in 2017. According to customs statistics released by the State Fiscal Service, in monetary terms exports amounted to $17 million – at the level of the seven months in 2017. At the same time, cheese imports in January-July 2018 amounted to 6,640 tonnes, which is 29.8% more than in the same period in 2017. In terms of money, this indicator increased by 43.6%, to $32.68 million.
Exports of butter from Ukraine in January-July this year rose by 32.2%, to 19,230 tonnes. In monetary terms, this figure grew by 1.5 times and amounted to $82.84 million. According to the State Fiscal Service, imports of this product increased by 2.7 times, to 637 tonnes ($4.26 million).
Exports of milk and cream (condensed) in January-July decreased by 20.8%, to 22,360 tonnes. Ukraine supplied condensed milk and cream for a total of $36.83 million against $48.78 million in January-July 2017. Imports of this group of goods increased by 1.7 times, to 1,230 tonnes ($3 million).

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NORWEGIAN-BASED NBT TO BUILD A 250-330 MW WIND FARM IN UKRAINE, KHERSON REGION

Norwegian-based NBT in April 2018 bought Syvashenergoprom (Kherson region, operates a wind farm with a capacity of about 3 MW) and intends to build a wind power plant with an installed capacity of 250-330 MW in the adjacent territories, the company’s website said. “In April 2018 NBT acquired the Ukrainian company Syvashenergoprom, which serves a 3 MW wind farm and is developing another 250-330 MW wind power project … NBT also signed several contracts for the development of other projects in Ukrainian wind energy, continues to seek new opportunities for the development of this market,” the report says.
As reported, in 2006 Kherson Regional State Administration transferred the unfinished Syvash wind power plant to concession to Syvashenergoprom until 2055. In 2011 Syvashenergoprom signed a lease agreement for 12 hectares of land under the concession wind farm and 1,300 hectares for the construction of new wind and solar generating facilities. NBT currently owns a 49% stake in Linxi wind farm with a capacity of 100 MW and a 33% stake in Baicheng wind farm with a capacity of 49.5 MW in China.

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JYSK FROM DENMARK PLANS TO OPEN 12 NEW STORES IN UKRAINE EVERY YEAR

JYSK Ukraine LLC (Kyiv), which develops the network of JYSK furniture and household goods stores of the JYSK Group (Denmark), plans to open about 12 stores in Ukraine every year. “We have opened five stores this financial year (September 1, 2017 through August 31, 2018) and are working on opening two more JYSK stores in Kharkiv in August. On average, we plan to open 12 stores annually. We need, conditionally 10 years In order to close the needs of the Ukrainian market. Starting in September, all JYSK stores will be opened in the 3.0 new format. All the working stores will be rebuilt within six years,” CEO of JYSK Ukraine Yevhen Ivanitsa told Interfax-Ukraine.
As he specified, in 2012 the parent company JYSK bought out all the franchise stores of the network in Ukraine and went through an independent development.
Ivanitsa says the company did not study how the Swedish retailer Ikea will influence the development of JYSK in Ukraine, but the experience of JYSK in other countries indicates that the European competitor’s entry into the market had no negative impact on sales dynamics.

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