Ukrainian industrial company Interpipe has invested $16 million in the development of its assets and new equipment at one of its plants in Nikopol over almost three years of full-scale war and continues to do so.
“I would like the war to end as soon as possible, but we, as a private company, cannot afford to stop investing at this time because our customers are asking for more technological products, and we need to adapt and adapt products, and it is very important for us to develop production and invest in it,” said Alexander Garkavy, director of Interpipe’s railway products division, at the World Economic Forum in Davos on Thursday.
According to him, Interpipe realized that it was impossible to stop investing even during the war, so it made investments of $16 million over almost three years at one of the group’s enterprises in Nikopol.
“We did it successfully, although it was not easy to get the equipment, but we were able to do it, and we continue to do it – either in railway products or in pipe production. We know our customers, and it makes sense. And Interpipe, as a supplier to the European market, proves that we can deliver high-quality products on time. Believe in us, in a Ukrainian company, believe in Ukraine,” said Garkavy.
At the same time, he clarified that the main raw material for production is scrap. The company’s assets employ 9,000 people, although there is a staff shortage. The company is export-oriented: 83% of its products are exported, 50% to the European market, and almost all European railroad operators work with Interpipe. Thanks to a $1 billion investment 13 years ago in the construction of an environmentally friendly electric steelmaking complex, carbon dioxide emissions were reduced by 47%.
“And we are ready to meet the requirements of European green metallurgy and EU accession,” the top manager summarized.
For reference:
“Interpipe is a Ukrainian industrial company, a manufacturer of seamless pipes and railway wheels, which sells its products to more than 80 countries through a network of sales offices in key markets in the Middle East, North America and Europe.
Interpipe employs about 9 thousand people. In 2023, the company transferred UAH 4.4 billion to the budgets of all levels.
The ultimate owner of Interpipe Ltd is Ukrainian businessman and philanthropist Victor Pinchuk and his family members.
Source: https://interfax.com.ua/
