Business news from Ukraine

MHP INVESTS $300 MLN IN POULTRY FARM

Myronivsky Hliboproduct (MHP) early July launched the second line at Vinnytsia poultry farm, the company’s press service has reported.
According to the report, total investment in the second line was $300 million.
The company said that at present, production at the farm is around 280,000 tonnes of poultry a year. By 2020 it is planned to boost it to 560,000 tonnes.
Myronivsky Hliboproduct is the largest poultry producer in Ukraine. It is also engaged in production of grains, sunflower oil, and meat.
MHP supplies cooled semi-carcasses, which are processed, including at its enterprises in the Netherlands and Slovakia.
The company’s land bank as of late 2017 was around 370,000 ha.
The founder and majority shareholder in MHP is Ukrainian businessman Yuriy Kosiuk.

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U.VENTURES FUND INVESTS $1.15 MLN IN THREE STARTUPS (YOUTEAM, 3DLOOK, PUFETTO)

U.Ventures investment fund, founded by Western NIS Enterprise Fund, has invested $1.15 million in Ukraine’s startups YouTeam, 3DLook and Pufetto, the fund has said. “Ukraine has prominent product companies and startups that make revolutionary products and are highly competitive on a global market, and YouTeam, 3DLook, and Pufetto are dazzling examples of this. We are very pleased to invest in these startups and are convinced that they have a great potential to become leaders in its segments not only in Ukraine but worldwide,” President and CEO of Western NIS Enterprise Fund Jaroslawa Z. Johnson said.
3DLook, founded by Vadym Rohovsky, a serial entrepreneur from Odesa (the co-founder of the Clickky startup), in 2016, is an innovative solution for apparel retail and e-commerce that uses proprietary body measuring technology to make a perfect size and fit recommendations to consumers.
YouTeam, founded in Lviv in 2014, is a marketplace for hiring tech talent from software development firms.
Pufetto is a Ukrainian furniture manufacturer and e-commerce player that enables customers to customize its furniture (sofas, armchairs, beds) through its online platform and have it delivered to door within three of four weeks. Pufetto sells furniture through the proprietary online platform, as well as via show rooms in Ukraine and Germany.
Attracted investments will help startups to improve their products, hire new people and expand to new markets.

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DANISH CIKLUM FOUNDER INVESTS IN AVENTURES CAPITAL

The founder of the Ciklum outsourcing company, Danish entrepreneur Torben Majgaard, has invested in Andriy Kolodiuk’s AVentures Capital venture fund, which invests in innovative companies at early stages, and became a financial partner of the fund, the press service of AVentures Capital has reported.
The invested funds will be used to finance globally oriented Ukrainian start-ups and IT companies of different stages of development.
“In addition to AVentures Capital, previously Torben Majgaard joined financial partners and other funds from America and Europe, and in Ukraine for the first time. This is the indication that the Ukrainian venture ecosystem is not only competitive at the global level but also increasingly attractive to the world’s entrepreneurs and investors. In addition to Torben Majgaard, AVentures Capital’s financial partners are also ourselves, managing partners, as well as IT entrepreneurs of Ukraine and the United States,” Managing Partner of AVentures Andriy Kolodiuk said.
The press service refused to disclose the amount of investment, but clarified that the matter concerns a seven-digit figure (in dollars).
Majgaard stated if investments in joint projects are successful, he is ready to invest even more.
AVentures Capital was founded in 2012. It invests in projects at early stages. It is focused on cooperation with global companies that have R&D in Ukraine and the countries of Central and Eastern Europe. The fund focuses on investments in IT, including such areas as software, e-commerce, cloud services, mobile technologies, IoT, etc.

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NESTLÉ INVESTS OVER UAH 10 MLN IN 22 ENERGY EFFICIENCY PROJECTS IN UKRAINE

Nestle, one of the world’s largest producers of food products, has invested more than UAH 10 million in energy efficiency projects in Ukraine, said CEO at Nestle Ukraine Ansgar Bornemann. “The company has invested more than UAH 10 million in 22 energy efficiency projects in Ukraine. This allowed 8% energy savings,” he said at a press conference in Kyiv on Wednesday. The top manager also reported on investing UAH 1 million in 12 projects to install special environmentally friendly equipment. “This allowed us to reduce water consumption by 189 tank wagons at the company’s three factories,” he said. Nestle began operations in Ukraine in 1994 with the opening of a representative office. It markets such international brands as Nescafe, Nesquik, Nuts, Friskies, KitKat, etc.

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EUROCHEM GROUP AG INVESTS UAH 11.6 MLN IN HIGH-TECH FERTILIZERS PRODUCTION IN UKRAINE

EuroChem Group AG has invested more than UAH 11.6 million in the launch of production of Entec Solub high-tech fertilizers in Ukraine, the company’s press service has reported. “On April 3, 2018 EuroChem Group AG produced the first batch of Entec Solub, water-soluble fertilizers with a nitrification inhibitor, in Kremenets (Ternopil region). For its production the company completely converted and resumed its production base, purchased and installed a production line for more than $438,000,” the report says.
In general, according to the company, in 2016-2017 EuroChem invested more than $4.128 million in the development of production sites, four large warehouses of mineral fertilizers and agro-centers in Kazatyn, Buryn, Balakleya and Kremenets.
Over the same period, more than UAH 2.263 billion of taxes and fees were paid to the budgets of all levels.
EuroChem Group AG is the leading fertilizer producer in the world. It mainly produces nitrogen and phosphate fertilizers, as well as organic synthesis goods and iron ore concentrate. The head office of the group is located in Zug, Switzerland, while manufacturing facilities in Belgium, China, Kazakhstan, Lithuania and Russia, and the distribution network in Europe, the CIS, Asia, and South America.

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