Business news from Ukraine

Business news from Ukraine

“Antonov” returns 49% stake in its subsidiary company

Antonov State Enterprise has once again become 100% owner of the German company Antonov Logistic Salis – a company created to service air cargo transportation under the program of NATO countries, having achieved the exclusion of Belgian Cargo Air Solutions, which previously owned 49% of shares, from the number of shareholders.

“Our company since yesterday is the sole shareholder of the German subsidiary Antonov Logistic Salis. Now all dividends from its activities will go to the accounts of Antonov. The point in this process has been reached,” Acting Director General Yevgeny Gavrilov was quoted in the SE’s statement on Thursday.

It is specified that the case of SE Antonov and Cargo Air Solutions was considered in German courts, including the High Land Court of Dresden, where the company managed to prove the fact of falsification of the minutes of the shareholders’ meeting, which served as the basis for exclusion of Cargo Air Solutions from the list of shareholders.

“We have corrected the mistake of the former management of Antonov SE, whose actions authorized the sale of shares to an unknown company established less than a month before the purchase of shares. This fact was written about in the media back in 2021. In June 2023, Antonov SE at the company’s shareholders’ meeting made a decision to exclude Cargo Air Solutions from the list of shareholders,” the release said with reference to Olga Abramova, Antonov’s director for legal affairs and corporatization.

According to her, the Belgian company tried to block this decision in the courts, but to no avail.

The SE recalled that the first Antonov Logistic Salis contract under the program with NATO was signed in 2019 for three years. Last June, it was extended until the end of 2026.

Antonov SE provides air transportation for NATO and EU countries for emergency cargo delivery in crisis situations. Two An-124-100 Ruslan aircraft may be used. They should be in stand-by mode at Leipzig airport (Germany), and on additional call Antonov provides three more airplanes.

Ukraine threshed 5.9 mln tons of grain of harvest-2023

Agrarians of all regions have harvested early grain and leguminous crops on the area of 1495 thousand hectares and threshed 5 million 882 thousand tons of grain at a yield of 39.4 c/ha, the press service of the Ministry of Agrarian Policy and Food reported.

According to the report, the leaders in terms of threshing are the agrarians of Odessa and Mykolayiv regions, who threshed 1297 thousand tons and 344.8 thousand tons of grain respectively.

In total, Ukraine has harvested barley on 577.2 thousand hectares, which is 40% of the planned, from which 2.253 million tons have been threshed at a yield of 39.0 c/ha.

Wheat was harvested from 831 thousand hectares (18%). At a yield of 41.2 c/ha it was threshed 3420.2 thousand tons.

Peas were harvested from 85 thousand hectares (59%). At a yield of 24.6 c/ha it was threshed 208.9 thousand tons. Agrarians of Ternopil and Vinnitsa regions have completed pea harvesting.

In addition, agrarians of 12 regions have started harvesting winter rape: 1390.1 thousand tons of seeds with a yield of 24.7 c/ha on the area of 563.5 thousand hectares (41%).

As reported, winter wheat sowing this season amounted to 4166 thousand hectares (-834 thousand hectares to the previous season), winter barley – 536 thousand hectares (-255 thousand hectares), rape – 1374 thousand hectares (+110 thousand hectares).

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Kronospan opens logistics center near Kiev worth EUR20 mln

Kronospan Group, which has woodworking enterprises Kronospan UA (Volyn region) and Kronospan Rivne (Rivne region) in Ukraine, has invested more than EUR20 mln to establish a logistics center in Kalinovka village, Kyiv region, which was put into operation in May this year, said Natalia Pokinska, general director of Kronospan UA.

“In conditions of a full-scale war, disruption of logistics routes and other unfavorable conditions, we are investing more than EUR20 million logistics center near Kiev, the purpose of which is to receive road and rail freight from foreign Kronospan companies and our territorial divisions,” Pokinskaya said at the forum “FIT for Ukraine (Forum on Investments and Transformations): Furniture Cluster”.

According to her, the main stage of investments has been completed and the logistics center is currently located on 15 hectares of area, has facilities and capacities that it can provide to partners. Its construction was launched in 2019.

Pokinskaya emphasized that during 19 years of Kronospan Group’s work in Ukraine, the total volume of investments in the Ukrainian woodworking industry exceeded EUR900 million (both own funds and financial institutions, including the European Bank for Reconstruction and Development (EBRD)), and since the beginning of the full-scale war of the Russian Federation against Ukraine – EUR122 million.

She reminded that the construction of the plant in Rivne region, investments in which started in 2019 and where the first particleboard production line was commissioned in 2021, is one of the largest investment projects in Ukraine in recent years (more than EUR400 mln).

In total, more than 700 jobs have been created at the company’s enterprises.

Kronospan Group, established in Austria in 1897, today is a major global manufacturer of wood-based sheet materials. It includes more than 40 production plants in many countries.

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Ukraine to receive $1.5bn loan from WB under Japanese government guarantees, Ukrainian Prime Minister Denys Shmygal has said

Ukraine will receive a $1.5 billion loan from the World Bank (WB) under the guarantees of the Japanese government, Ukrainian Prime Minister Denis Shmygal said.

“Only the relevant agreement was signed by the World Bank and the Ministry of Finance during our meeting with World Bank Vice President Antonella Bassani,” Shmygal wrote in Telegram on Thursday.

According to him, the funds are envisaged to strengthen social protection, help people during the war and restore the economy.

The head of the Ukrainian government said that in total, the WB group together with partners mobilized $34 billion to help Ukraine, of which more than $22 billion has already entered the budget.

“We are especially grateful for PEACE in Ukraine, the largest investment project in the Bank’s history, which helps finance social payments and pensions. We appreciate our close cooperation and look forward to further joint projects for the reconstruction and development of Ukraine,” Shmygal wrote.

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Forecast of dynamics of changes in ukrainian GDP in % for 2022-2025 in relation to previous period

Forecast of dynamics of changes in ukrainian GDP in % for 2022-2025 in relation to previous period

Source: Open4Business.com.ua and experts.news

President dismisses Vadym Prystayko

Ukrainian President Volodymyr Zelenskyy has signed a decree dismissing Vadym Prystayk from two posts. The corresponding document No. 442/2023 was published on the website of the head of state.

According to the text of the decree, Prystayko is dismissed from the post of Ukraine’s ambassador extraordinary and plenipotentiary to the United Kingdom of Great Britain and Northern Ireland and from the post of permanent representative to the International Maritime Organization (IMO) on a part-time basis.

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