Business news from Ukraine

The Textile-Kontakt Group, a large retail and industrial groups on the light industry market in Ukraine, approximately in April seeks to bring the new fabric factory to the projected capacity of 200,000 linear meters a month. “At present, production has been stared and being tested,” the press service of the group told Interfax-Ukraine. Almost UAH 53 million was invested in the new production site in 2018, and in 2019 it is planned to invest some UAH 100 million.
As reported, in September 2018, the group began repairing workshops with a total area of 3,500 square meters and installation of new equipment. The capacity of the plant will be 2-3 million meters of fabric per year.
According to the press service of the company, customers of fabrics are mainly EU countries, in particular, Germany and France.
The payback period of investment, according to pessimistic forecasts, is from seven to eight years.
“I was here in November, the dismantling of old equipment continued. The state of the enterprise was more like a dump. We repaired and restored the old equipment, which is now ready for operation. Also, eight trucks with Italian production lines are about to arrive at the site,” the press service said, citing the founder of the Textile-Kontakt holding Oleksandr Sokolovsky.
Textile-Kontakt was founded in 1995 and today represents a holding company that combines various areas of assets: wholesale and retail trade, the import of fabrics, accessories and home textiles, as well as tailoring of special clothing (including military uniforms).