Business news from Ukraine

ZEUS CERAMICA’S INVESTMENT IN 2015-2016 WILL REACH UAH 28.5 MLN

13 April , 2016  

KYIV. April 13 (Interfax-Ukraine) – PJSC Zeus Ceramica (Sloviansk, Donetsk region), one of the largest producers of ceramic tiles in Ukraine, in May 2016 will start the next stage of modernization of production for a total of UAH 28.5 million.

According to the Donetsk Chamber of Commerce and Industry, in 2015 Zeus Ceramica invested UAH 22 million of the indicated amount in modernizing production.

“This investment enabled the company to increase the amount of domestic raw materials used in production of tiles,” reads the report.

According to the report, the remaining sum of investment worth UAH 6.5 million will be used for modernization of equipment that will help the company begin production of large format tiles (450x900mm). Zeus Ceramica plans to bring the first batch of the new tile to the market in June this year.

As reported, PJSC Zeus Ceramica in mid-June 2014 was forced to suspend operations in connection with the situation in the region and military operations in the east of Ukraine. At the end of April of the same year company CEO Oleksandr Bohoslavsky reported that the unstable political situation in connection with the events in Sloviansk and in the southeastern region of Ukraine complicated the work of the enterprise, due to which Zeus Ceramica in April 2014 reduced production of ceramic tiles by 30%, as well as experiences difficulties with logistics and is forced to postpone the planned modernization of production with investment of about EUR2 million.