Ukraine can become a member of the European Union (EU) within the next five years, provided that it implements all the necessary reforms, European Commissioner for Enlargement Oliver Varghese said at a press conference in Brussels on Wednesday.
According to Deutsche Welle, Varghese said that additional tools have been created for Ukraine, Moldova and the Western Balkans to “help them accelerate reforms.”
“These tools are called the Growth Plan, the Ukraine Plan, depending on the country. And with the help of this plan, we have made it possible for the Western Balkans, Moldova, and Ukraine to complete reforms in order to prepare everything and become an EU member by the end of the next European Commission mandate,” he said.
On September 30, a report on EU enlargement was presented in Brussels, which describes the progress of the candidate countries.
At a summit in Brussels on June 23, 2022, the European Council granted Ukraine candidate status in the EU. Kyiv has to implement several important reforms related to the rule of law, oligarchs, and corruption, among other things.
In the first 9 months of 2024, Kovlar Group’s production increased by 100% compared to the same period in 2023.
According to the company, the main consumers of fire protection in 2024 were system developers of commercial real estate and infrastructure.
“The key components of this growth are the adaptation of the production cycle to wartime conditions and the high competitiveness of Ammokote products,” said Konstantin Kalafat, CEO of Kovlar Group.
Today, the company continues to carry out research and development activities to develop new promising fire protection materials necessary for the reconstruction of Ukraine. This allows us to keep the development of the Ukrainian fire protection industry at the global level and significantly reduces the import dependence of the domestic fire protection market.
Today, Kovlar Group is the largest Ukrainian manufacturer of fire protection products, which occupies about 60% of the Ukrainian fire protection materials market and offers more than 20 products under the Ammokote brand.
At least 64 people have died due to flooding caused by heavy rains in Spain, EFE news agency reported on Wednesday.
“The authorities of the autonomous community of Valencia, which was most affected by the floods, confirmed that 62 people died (…), while two victims were found in the autonomous community of Castilla-La Mancha,” the agency reports.
In addition, several people went missing in both communities. Search and rescue operations continue in Valencia and Castilla-La Mancha. In Valencia, the floods caused power outages. Several flights were canceled at Valencia airport. In addition, rail and road connections in the region have been partially disrupted.
Spanish Prime Minister Pedro Sanchez said that dozens of cities were flooded and warned that the danger to the population was not over yet.
“For those who are looking for their loved ones: the whole of Spain feels your pain. Our priority is to help you. We are using all the necessary resources to recover from this tragedy,” Sanchez said in a televised address.
Spanish emergency response units have sent more than a thousand employees to the flood-affected areas of the country. In addition, the Spanish government has set up a crisis committee to coordinate rescue efforts.
The National Meteorological Service of Spain has introduced a “red”, the highest, level of weather danger in the region. According to forecasters, the rains will continue at least until Thursday.
The European Bank for Reconstruction and Development (EBRD) is providing Kormotech, a leading Ukrainian pet food producer, with a financing package to increase exports and geographic diversification by building a second pet food plant in Lithuania, the EBRD press service reports.
According to the release, the total cost of the Kormotech project will be EUR63 million.
The allocated financing package is a EUR40 million A/B syndicated loan, of which EUR20 million will be provided by the Dutch SDG-focused asset management fund ILX Fund.
The bank has previously provided EUR 15 million to Kormotech Group, a long-standing EBRD client, for the construction of its first plant in Lithuania, which began operations in June 2020. The bank also provided a EUR3.3 million loan to the company to replenish working capital during the Covid-19 pandemic in 2020.
The EBRD loan is accompanied by grant financing, including a grant from the Japan-EBRD Cooperation Fund, which partially covers the costs of external lawyers. The grant funding will also partially cover the cost of new workplace equipment that will create new livelihoods for groups that need more attention, including women and people with disabilities. This component is being implemented as part of the EBRD’s new program aimed at stimulating capital investment.
The loan is provided to the Group’s holding company Vengast Investments Ltd (Cyprus) and its subsidiary in Lithuania, Kormotech UAB.
The EBRD is the largest international financial investor in Ukraine. Since the beginning of the war in 2022, the bank has provided EUR 5 billion to the Ukrainian economy and agreed with shareholders to increase capital by EUR 4 billion, which will allow it to continue lending at current levels during the war and further increase volumes during the full-scale recovery phase.
Kormotech is a global family-owned company with Ukrainian roots that has been producing cat and dog food under the Optimeal, Club 4 Paws, Woof! and Meow! brands since 2003. The company has production facilities in Ukraine and the EU, with a product range of over 650 items. Its focus on exports and geographic diversification helps it withstand the impact of Russia’s war against Ukraine.
The new project will also help Kormotech strengthen its human resources and skills development efforts in light of the current challenging situation on the Ukrainian labor market, including creating new employment and training opportunities for women, veterans, and other groups that require more attention. It will also enable Kormotech to improve energy efficiency.
In 2023, Kormotech’s turnover increased by 22.5% to $152 million from $124 million in 2022. The ratio of sales abroad and in Ukraine in tons is now 31% to 69%, respectively (in 2022 it was 28% to 72% in Ukraine).
Kormotech brands grew most dynamically in the markets of Romania (+35%), Poland (+11%) and Moldova (+11%).
Kormotech is a leader in Ukraine, one of the world’s top 50 pet food producers and one of the top 21 most dynamic pet food brands. The ultimate beneficiaries of Kormotech are Olena and Rostyslav Vovk.
Oleg Krot, co-founder of the Techiia IT holding company, intends to invest $50 million in the bankrupt Polish agricultural tractor manufacturer Ursus over the next five years, whose assets he acquired at a tender on October 24 for PLN 74 million ($18.5 million), according to a report by Forbes Ukraine.
“We plan to invest $50 million in Ursus over five years,” the publication quoted Krot as saying.
According to Forbes Ukraine, within the first 12-18 months, Krot intends to resume production of agricultural machinery at Ursus plants, which have been producing mostly trailers and bodies in recent years.
“At this point, it’s important not to run after some illusory goal, but to increase production of trailers and launch tractors,” he says.
The goal for the next five years is to resume tractor deliveries to Africa and Asia, and, according to Krot, they also plan to attract American investors with whom they have preliminary agreements.
According to Krot, co-founder of Techiia IT holding, the company is investing its own funds from dividends in the purchase of Ursus.
According to the Polish edition of Tygodnikiem Poradnikiem Rolniczym, Ursus was acquired by the Polish M. I. Crow, co-founded by Polish citizen Bożena Głowacka and Oleg Krot, who is also the company’s president.
The acquired assets include production facilities and real estate in the cities of Dobre Miasto and Lublin, the communes of Zakroczyme and Bedaszki, documentation of research projects, machinery and equipment, warehouses, as well as the use of the Ursus trademark.
In an interview with Tygodnik Poradnik Rolniczy, Głowacka noted that the new owner is currently developing a detailed plan for Ursus’ activities after the takeover.
The publication notes that the owner intends to develop a new development strategy for the tractor manufacturer, preserve existing jobs and hire new specialists, as well as increase Ursus’ production capacity.
According to the Polish publication, Ursus, which has a nearly 100-year history of producing tractors under the same brand, was declared bankrupt in July 2021 after a sharp drop in sales. Three tenders for its sale were then held, but the first two failed due to the lack of buyers, and the only participant in the third was M.I. Crow with a registered capital of PLN 50 thousand. At the same time, the starting price of the assets was reduced by 40% to PLN 74 million compared to the previous tender.
Earlier it was reported that in 2013, the Ukrainian corporation Bogdan, in consortium with Ursus, won a tender for the supply of 38 low-floor trolleybuses to the municipality of Lublin. Bogdan supplied the bodies and components for them, Czech Cegelec supplied the control system, and the final assembly was carried out at Ursus’ facilities.
According to the website of the Techiia holding, co-founded (managing partners) by Krit and Yuriy Lazebnikov, it unites more than 10 technology companies in the unmanned aerial vehicles, IT, e-sports, construction technologies, SaaS, and is considering prospects for investment in other industries.
“Nova Poshta, Ukraine’s largest logistics operator, has launched courier delivery in the Netherlands and plans to open its own branches in Amsterdam and Utrecht in the near future, the company’s press service reports.
“Nova Poshta is already working with courier delivery in all cities of the Netherlands. In the near future, we plan to open our own branches in Amsterdam and Utrecht to make even more services available to our customers,” the press service of Nova Poshta quoted Anton Chernysh, CEO of Nova Post in the Netherlands, as saying.
It is reported that the Netherlands has become the 16th foreign market for the company.
Customers can order targeted delivery from Ukraine to any address in the Netherlands, as well as use the services of a courier to send. Parcels can be sent throughout the Netherlands and between European countries. Private clients and companies can send parcels up to 1 thousand kilograms, the company said in a statement.
The current delivery tariff for individuals from October 21, 2024 is UAH 1 thousand for documents up to 1 kg, small parcels up to 2 kg – UAH 1.05 thousand, medium (up to 10 kg) – UAH 1.6 thousand, large (up to 30 kg) – UAH 2.6 thousand, cargo over 30 kg – UAH 100 for every 1 kg and UAH 250 for every 100 kg. Prices are quoted in UAH including VAT.
Delivery time from Ukraine to the Netherlands is up to 4 days, within the Netherlands and to other European countries – from 1 day.
Earlier it was reported that Nova Poshta launched courier delivery in Austria, which became the 15th foreign market for the operator.
It was also reported that in 2024, NOVA Group of Companies (Nova Poshta) doubled its investments to UAH 8.5 billion compared to 2021.
