Business news from Ukraine

CORUM GROUP TO LEASE TUNNELING MACHINES TO POLISH COMPANIES

Corum Group has signed contracts for supply five tunneling machines for Polska Grupa Górnicza (PGG) and Jastrzębska Spółka Węglową (JSW, both based in Poland) for the total amount of PLN 22.8 million (EUR 5.3 million), which the companies will lease for three years.
The press service of Corum told Interfax-Ukraine that the first tunneling machine, intended for JSW, in August will begin operations at the Szczyglowice mine.
A number of modifications have been made to the design of the mass model of the tunneling machines in accordance with the requirements of the customer for maximum adaptation to the conditions of the customer mine. It is equipped with a 150 kW engine and a sector irrigation system for suppressing dust in the face and preventing sparks from working in the face.
“Our tunneling machines have proven themselves at the coal mining enterprises of Poland, working here since 2013. We put the first tunneling machine on the Polish market for JSW, and it has been successfully operated to this day,” the press service of the Corum Group reported, citing CEO Mykhailo Potapov.
The tunneling machine for JSW is supplied with additional equipment, which includes belt conveyor, power train, pumping unit, data transmission system, visualization and monitoring system. Terms of the contract also include comprehensive maintenance of machinery.
Corum intends to deliver another four tunneling machines to the company Polska Grupa Górnicza. One of them for the RUDA mine is scheduled for shipment by the end of September this year, the next three for the Bolesław Śmiały mine between June and September 2019.
Corum Group unites the machine-building assets of the SCM financial and industrial group. In 2017, the company’s share of exports increased to 41%. The key countries of presence are Russia, Kazakhstan, Poland, Vietnam and Estonia.

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CORUM GROUP TO SUPPLY 140 TIMBERING SECTIONS TO POLAND

Corum Group, uniting engineering assets of the SCM financial and industrial group, has signed a contract to supply 140 timbering sections for one of the leading Polish mining companies – Polska Grupa Górnicza (PGG) – by the end of this year, the press service of Corum has reported.
“This victory [in the tender] opens new opportunities for Ukrainian machine builders to integrate into the Polish market, which is in the sphere of interests of Corum,” the group said in the report.
For PGG, a new structure will be made, designed to work on seams of 1.8-3.5 meters in conditions of heavy roofing of mines in Poland due to high operating resistance – over 6,000 kN. The timbering will be used by the customer at the Sośnica mine.
“This is Corum’s first large contract for the supply of cleaning equipment to the Polish market. The local mines use the same Polish timbering, but PGG decided to entrust Corum with the manufacture of this complex type of mine equipment. The first sections will be ready late August,” the group said.
According to CEO of Corum Group Mykhailo Potapov, the Polish market is one of the most attractive for Corum, taking into account the reorganization of the coal industry of this country.
He said that PGG is actively involved in the restructuring of the Polish coal sector, accompanied by the enlargement of extractive enterprises in order to increase their efficiency.

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CORUM GROUP TRIPLES EBITDA IN 2017

Corum Group, which unites the machine building assets of System Capital Management (SCM) financial and industrial group, more than tripled EBITDA in 2017 compared to 2016, to UAH 352 million, the company’s press service has said.
As reported, in 2016 EBITDA came out of the negative level and amounted to UAH 105.4 million.
Consolidated revenue of the company increased by 44%, to UAH 1.995 billion, the volume of signed contracts by 110%, to UAH 2.872 billion.
The share of exports in the sales structure was 41% against 28% a year earlier.
The company said that one of the key events that predetermined the economic development of Ukraine in 2017 was the transport blockade of Donbas.
“After the shutdown of a number of mines in Donetsk and Luhansk regions in February 2017, the orders of which amounted to 27% of the business plan, Corum Group focused on fulfilling orders from the key customers from Ukraine, Russia, Kazakhstan, Vietnam, and Estonia. This ensured the overfulfillment of the plan for 2017 and exceeding the results of 2016 on the main indicators,” a press release reads.
According to the company, in 2017 investments in production amounted to UAH 90 million, which is 1.8 times more than in 2016.

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