PJSC “Centravis Production Ukraine” (Centravis Production Ukraine), which is part of the holding Centravis Ltd., is provided with electricity in the required quantity and continues to produce stainless steel pipes as part of the fulfillment of customer orders.
As chief sales officer (CSO) Artem Atanasov said in a letter to clients on Friday, Ukraine continues to live in conditions of full-scale war. Currently, the government is working on the restoration of critical infrastructure facilities, which were partially destroyed as a result of shelling by Russian troops.
“Centravis production continues to operate and its efficiency has not suffered. Our key equipment is provided with electricity in full. Production is provided with blanks and all necessary materials,” Atanasov states.
According to him, the logistics team is actively looking for the best and safest ways to deliver finished products. “They manage to organize processes in such a way as to prevent disruptions in the delivery of orders in the future,” says the director of sales.
It is stated that the company’s sales offices operate worldwide in Essen, Milan, Krakow, Lugano, Houston and Dubai.
This week the Centravis team is taking part in the annual exhibition Abu Dhabi International (ADIPEC), which takes place in the United Arab Emirates.
“Centravis” is one of the world’s largest manufacturers of seamless stainless steel pipes, founded in 2000. Its production facilities are located in Nikopol (Dnepropetrovsk region). It is included in the top 10 global players, supplies pipes to more than 70 countries from different regions, in particular to Thyssenkrupp, Buhlmann, BMW, Alstom, Linde, Samsung, Volkswagen.
Before the Russian aggression, more than 1,400 people worked at the enterprise.
Holding Centravis Ltd. was created on the basis of CJSC “Nikopol Stainless Pipe Plant”, service and trading companies LLC “Production and Commercial Enterprise “UVIS”. Its shareholders are members of the Atanasov family.
Owned by Centravis Ltd. 100% of the shares of PJSC “Centravis Production Ukraine” is located.
More than EUR66 million will be allocated under the first Interreg NEXT European cross-border cooperation program for Hungary, Slovakia and Romania’s partnership with Ukraine in health, environment and good governance, the European Commission (EC) announced Friday. “This program is part of the EU’s overall support and unwavering solidarity toward Ukraine. By implementing a cohesion policy, Interreg will help Ukraine and its bordering member states to face common challenges and seize joint opportunities,” said Elisa Ferreira, EC member for cohesion policy and reforms.
The program covers the period of 2021-2027. Hungary, Slovakia, Romania and Ukraine are expected to work together to ensure equal access to health services and improve the sustainability of their health systems.
The program will support climate change adaptation and disaster risk prevention solutions. The participating countries will cooperate to protect nature, develop “green infrastructure” and tourism.
It is also a question of aligning Ukraine’s norms with EU member states in the area of effective public administration. Relevant projects will promote legal and administrative cooperation to remove common barriers to interaction in border areas, while supporting cooperation between citizens, civil societies and state institutions, according to a communiqué from the European Commission.
CROSS-BORDER COOPERATION, HUNGARY, ROMANIA, SLOVAKIA, UKRAINE
In January-September 2022 ALC “Insurance company ViDi-Insurance” (Kyiv) collected gross insurance premiums to the amount of UAH 156,5 mln, which is 33,23% less than during the same period last year, as RA “Standard-Rating” reports in the article about updating company’s credit rating/rating of financial stability (reliability) of the insurer on the national scale at the level “uaAА”.
It is noted that the receipts from individuals of IC has decreased on 33,03%, amounting to UAH 136,830 mln, and there have been no receipts from reinsurers in the reviewed period. Thus, individuals continue to prevail in the client portfolio of the insurer, as indicated by their high proportion in gross premiums, which has amounted to 87,46%.
The insurance payments, sent to reinsurers, have decreased by 39,1%, down to UAH 2,090 mln in comparison with the same period of 2021 for nine months of 2022. Thus, the ratio of reinsurers’ participation in insurance premiums has decreased to 1,34%.
Net premiums have decreased by 33,14%, to UAH 154,360 mln, and earned premiums – by 9,69%, to UAH 189,416 mln.
The indemnities paid out by the insurer in January-September of 2022, compared to the same period of 2021, has decreased by 16,39%, up to UAH 77,889 mln. As a result of the high rates of gross premiums decrease, the level of payments has grown by 10,03 p.p., up to 49,79%.
Operating profit increased 2.45 times, up to UAH 49.44 mln, and net profit 2.75 times, up to UAH 43.109 mln.
As of September 30, 2022, the assets of the company grew by 5.04%, to UAH 230.559 mln, shareholders’ equity increased by 64.93%, to UAH 109.509 mln. Liabilities reduced by 20,94%, to UAH 121,05 m, cash and cash equivalents reduced by 75,75%, to UAH 24,885 m. It should be also noted that as of September 30, 2022 the Bank’s equity capital grew by 5,93%, to UAH 230,559 m. Liabilities of the company fulfilled the same amount.
RA also notes that as of the reporting date IC ViD Insurance formed a portfolio of investments in government bonds in the amount of UAH 30,455 mln, and a portfolio of deposits in banks with high credit rating in the amount of UAH 89,299 mln.
IC ViDi-Insurance works in the insurance market since 2007, the main specialization – motor insurance.
Ukraine has already received 700 generators from donors and another 900 will be delivered soon, Prime Minister Denys Shmygal said.
“We are preparing for any scenario. We are stockpiling equipment for emergency power generation,” he said at a government meeting Friday.
The prime minister said a coordination meeting was held Nov. 3 with UN agencies and USAID. “We talked about preparations for winter. We have already received 700 generators from donors. Another 900 will be delivered from them in the near future,” the prime minister said.
Krivoy Rog iron-ore combine (KZHRK) in January-October of this year reduced the production of marketable iron ore underground mining by 26.8% compared to the same period last year – up to 2.654 million tons.
According to the company, in October, mines “Pokrovskaya”, “Krivoy Rog”, “Kozatskaya” produced 40 thousand tons each, “Ternovskaya” – 30 thousand tons.
The total output of the Company last month amounted to 150 thous. tons, while in September it was 200 thous. tons, in August – 270 thous. tons, in July – 280 thous. tons.
As reported, KZHRK in 2021 increased the production of iron ore from underground mining by 12.7% compared to 2020 – up to 4.298 million tons.
KZHRK specializes in underground mining of iron ore. KZHRK has four mines: “Pokrovska” (formerly “October”), mine “Krivorizka” (“Rodina”), “Kozatska” (formerly “Gvardeyskaya”) and “Ternovskaya” (formerly the Ordzhonikidze mine, then named after Lenin).
Starmill Limited owns 99.88% of the company.
KZHRK is owned by Metinvest Group and Privat Group. The company’s operational management is carried out by Privat Group.
The Cabinet of Ministers of Ukraine has allocated 33.3 million UAH to finance the micro grants program “Own Business”.
“Owing to the funds allocated today, about 150 people will receive micro grants to start or expand their own business. Hundreds of new working places will be created. This is very important for the recovery and development of the economy and for overcoming the problem of unemployment in the country”, – the government press service quotes the first vice prime minister – Minister of Economy Yulia Sviridenko.
It is noted that as of November 4, 14.6 thousand grant applications on four grant programs of the project “eRabota. There have already been 2 131 positive decisions totaling 1.8 billion UAH. In particular, 1 911 positive decisions were made under the program “Own Business”; 167 – under the program “Recycling”; 53 – under the programs “Garden/Greenhouse”.
