While the year of the pandemic and quarantines has significantly affected business processes worldwide, our strategic plans remain unchanged.
UMG Investments has signed a Memorandum with the UAE State Investment Сompany Mubadala. In accordance with the signed Memorandum, the parties confirmed the availability of opportunities for cooperation in the selection, analysis, structuring and implementation of mutually beneficial investment projects in Ukraine and abroad.
UMG Investments expands its mining portfolio via the acquisition of 67.86 % of the shares of JSC Chasiv Yar Refractory Plant by VESCO Limited.
UMG Investments has portfolio companies involved in three industries: minerals extraction, by-products and production wastes management, industrial goods and services. The market value of assets managed by UMG Investments exceeds USD 500 million.
The Ukrainian investment company UMG Investments presents its performance figures. In 2019, the value of assets managed by UMG Investments company exceeded $ 500 million. Today, UMG Investments has portfolio companies in three industries: mining, by-products and production wastes management, industrial goods and services.
For several weeks now, we have been doing our best to protect our staff from the epidemic, to support business processes in the investment company and to maintain the production cycle at our enterprises.
Coronavirus has shaken up the global and the Ukrainian economy. The quarantine measures initiated to protect human lives inevitably slow down the economic activity.
The VESCO group, subsidiary of the clay mining direction of the investment company UMG Investments, sold 2.7 million tons of clay in 2019. VESCO exported about 86% of its clay to markets in 25 countries. The largest consumers of clay were ceramic tile manufacturers in Spain accounting for more than 30% of all sales.
In 2019, Recycling Solutions sold over 2.2 million tonnes of domestic technology-related waste and 1.49 million m3 of by-products in twenty-two countries of the world, thus implementing the circular economy principles. Sales of technology-related waste increased by 22% compared to 2018. This made possible avoiding additional landfilling of 1.7 million m3 industrial waste (+70% year-on-year).