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process titanium powder into end use products. A newly created joint venture, Velta Medical, will soon start manufacturing individual medical implants for the domestic market. "Thus, Velta becomes fully vertically integrated, extracting titanium raw materials, processing these into semi-finished products using its technology, and manufacturing final products," the company summarized.
A large pipe and railway wheel manufacturer's net profit has increased by 530% in half a year. According to the company's press release, the international, vertically integrated pipe and wheel company Interpipe earned $122.43M in the first half of the year. Pre-tax profit for six months increased by 530% to $157.5M. At the same time, operating profit increased by 170% to $178.29M. The company's earnings during this period amounted to $518.38M compared to $461.44M in the first half of last year. At the same time, due to the full-scale war, steel production by Interpipe enterprises decreased by 39% last year to 595,000 tons, pipes - by 36% (to 393,000 tons), and railway products - by 51% (to 84,000 tons). Sales of products decreased by 37% to 524,000 tons, including pipes by 36%, to 384,000 tons, and railway products by 50%, to 87,000 tons.
Ukraine's largest producer of seamless stainless steel pipes is investing €3.5M this year in the modernization and development of its capacities.According to the Centravis company website, most investment projects have already been undertaken, and work is ongoing. The main areas of investment:
● Energy modernization. The company is strengthening its ability to work under power supply restrictions. A technological accounting system has been launched, and electricity consumption has been significantly reduced, up to 30% in some production areas.
● Ecological modernization and reduction of environmental impact
● Modernization of non-production infrastructure
● Separate investment project – launch and development of a new production facility in Uzhhorod.
It should be noted that the new facility started operating in February of this year and has already started producing about 255,000 meters of pipes per month, or more than 60 tons. Well-known global car manufacturers, including Volkswagen, Audi, BMW, and Chevrolet, are the company's main clients.
85 UKRAINE Country Report October 2023 www.intellinews.com