The Supervisory Board of PJSC Insurance Company “Columnaid Ukraine” on June 18 terminated the powers of CEO Svyatoslav Yaroshevych, appointing him Acting Chairman of the Board, according to the company’s information posted in the system of the National Commission on Securities and Stock Market.
The reason for this decision was the termination of the sole executive body “CEO” and the appointment of a collegial executive body “board of the company” in accordance with the new version of its charter.
It is emphasized that Yaroshevich is appointed acting pre-management until the National Bank approves his candidacy for the position of chairman of the board.
In addition, the NAB has appointed the head of underwriting department Oleksiy Pilipenko and financial director Yulia Aniskina as acting members of the Board, also before the approval of the NBU.
PJSC IC Colonnade Ukraine (until 2016 – PJSC with AI “QBE Ukraine”) was founded in 1998 as the first international insurer in the Ukrainian market.
As reported, the company Colonnade Finance SARL (Luxembourg) in November 2015 has concentrated 99,9833% of the authorized capital of the insurer. Earlier Fairfax Financial Holdings Limited entered into an agreement with QBE Management (Ireland) Limited and its Ukrainian partner on indirect acquisition of 100% of the Ukrainian IC through the companies Colonnade Finance SARL (Luxembourg), Fairfax Holdings Inc. (Connecticut, USA), Fairfax Financial (US) LLS (Delaware, USA).
Geographical structure of Ukraine’s foreign trade (exports) in Jan-Feb 2024, ths. USD
Source: Open4Business.com.ua and experts.news
Corteva Agriscience, an international agricultural research company, has provided soybean and sunflower seeds to Ukrainian farmers from eastern and southern Ukraine for the spring sowing campaign under a program of the Food and Agriculture Organization of the United Nations (FAO), the company’s press service reports.
According to the report, under this program, small and medium-sized farms and agricultural producers in the frontline regions with land area of 10 to 500 hectares were eligible to apply for free seeds. FAO provided farmers from eastern and southern Ukraine with Corteva’s Pioneer® sunflower hybrids for sowing on 6,000 hectares.
“Working side by side with farmers, we see the extraordinary efforts they are making to continue sowing fields and contributing to the world’s food security during the third year of full-scale war. Therefore, it was an honor for Corteva to participate in the FAO project and supply farmers with Pioneer® sunflower seeds,” said Oleksandra Bilash, Head of Marketing at Corteva Agriscience in Ukraine.
The project of Corteva Agriscience and FAO was implemented jointly with the Ministry of Agrarian Policy and Food of Ukraine with the financial support of the governments of Japan, Norway and Belgium.
Corteva recalled that in 2023, as part of a partnership program with the Howard G. Buffett Foundation, the company donated about 8 thousand sowing units of winter rape and 45 thousand sowing units of Pioneer® corn and sunflower seeds to small Ukrainian farmers from the affected areas.
Corteva Agriculture is a global agricultural company. It offers comprehensive solutions to maximize yields and profitability. It has more than 150 research facilities and more than 65 active ingredients in its portfolio.
The company’s presence in Ukraine includes the headquarters in Kyiv, a research center in Liubartsi village (Kyiv region) and a seed production complex in Stasi village (Poltava region).
In April 2022, the company decided to leave the Russian market due to the full-scale war against Ukraine unleashed by Russia.
The Ukrainian bakery chain Lviv Croissants has entered the Slovak market and opened its first outlet in Bratislava, the company’s website reports.
According to the report, the first Slovakian Lviv Croissants opened in the center of the Slovak capital, at 13 Hviezdoslavovo náměstí.
“This is the old town, so there are always a lot of locals and tourists here,” the company said.
Lviv Croissants is a Ukrainian international franchise restaurant chain founded in 2015. It specializes in making croissants and has 160 locations in Ukraine and 11 in Poland. The company intends to open a restaurant in the United States and is already in negotiations. It is part of the Fast Food Franchising Group.
Fast Food Franchising Group LLC was founded in 2015 in Lviv.
The company’s net loss in 2023 amounted to UAH 598.3 thousand compared to UAH 483 thousand of net profit a year earlier. Last year, the company’s revenue increased by 55.1% to UAH 6.939 million, its debt obligations increased 9.7 times to UAH 188.9 thousand, while its assets decreased by 19% to UAH 1.89 million.
The company’s beneficiaries are PE Firm Infobud, which owns 50% of the shares, Yevhen and Andriy Galitsky (20% each), and Yuriy Zagrodsky (10%).
Geographic structure of Ukraine’s foreign trade in 2023
Source: Open4Business.com.ua and experts.news
“Poninkivska Cardboard and Paper Mill-Ukraine (PCPM-Ukraine, Khmelnytsky region), a major Ukrainian corrugated cardboard producer, increased its corrugated packaging output by 22% in January-May 2024 compared to the same period in 2023, to almost 39 million square meters.
According to Ukrpapir Association statistics provided to Interfax-Ukraine, the plant is now one of the top three producers of corrugated packaging after Kyiv Cardboard and Paper Mill and Trypillia Packaging Plant.
Over the five months, the company also increased production of containerboard by 6.7% to 30.9 thousand tons, and produced 1.6 times more paper – 0.42 thousand tons versus 0.26 thousand tons a year earlier.
In monetary terms, in January-May, PCBF-Ukraine produced products worth UAH 1 billion 064 million (+14.2%).
As reported with reference to the data collected by the association from the main enterprises of the industry, the production of paper and cardboard in Ukraine increased by 6.1% compared to the same period in 2023 – up to 240.4 thousand tons, cardboard boxes – by 21.4%, to 237.7 million square meters.
Poninkivska Paper Mill (formerly Poninkiv Cardboard and Paper Mill), once the largest producer of school notebooks, now has one main production line – paper and cardboard, producing mainly corrugated cardboard and corrugated packaging, as well as wrapping and waste paper.
The plant is part of the United Cardboard Company-Ukraine (UCC, Lutsk) owned by businessman Mykola Lobov, whose production assets include, among others, Lutsk KBF-Ukraine (Volyn region), which produced 26.6 thousand tons of various cardboard (16.4% more) and 19.3 million square meters of corrugated boxes in five months (according to UkrPapir).
As reported, in 2023, PCBF-Ukraine produced products worth almost UAH 2 billion 450 million, up 3% year-on-year. Net profit increased 2.7 times to UAH 27 million.
