• Home
  • NEWS
  • UMG Investments expands its mining portfolio with the acquisition of the shares of JSC Chasiv Yar Refractory Plant

UMG Investments expands its mining portfolio with the acquisition of the shares of JSC Chasiv Yar Refractory Plant


UMG Investments расширяет портфель добывающего бизнеса посредством приобретения 67,86 % акций АО «Часовоярский огнеупорный комбинат» (далее — ЧОК) компанией VESCO Limited.


UMG Investments expands its mining portfolio via the acquisition of 67.86 % of the shares of JSC Chasiv Yar Refractory Plant (hereinafter – CYRP) by VESCO Limited.

The agreement will allow VESCO to expand the variety of clays in the portfolio and offer new clay grades to the market. Also, it will enable the enterprise to restore its competitive position.

The acquisition of CYRP is a logical extension of VESCO’s clay mining business. The convenient location and the VESCO team’s extensive experience in this area will allow the eneterprise to be effectively integrated into the business structure and bring all the best technological practices that are already working in our clay mining business.

The current state of CYRP and underinvestment of its production capacities did not allow it to be efficient. Due to the inefficiency of technological processes and asset management structure, the enterprise has lost its competitive positions over the years. However, UMG Investments is confident that VESCO’s successful asset development experience will realise its asset potential. In particular, business-oriented approach, detailed study of commercial opportunities in both core and non-core areas, and the reorganisation of processes toward maximum efficiency should make CYRP a prominent player in the mining market as soon as possible.

“The competence of UMG Investments and VESCO management teams is confirmed by years of effective management of core assets and the trust of partners in Ukraine and abroad. I am confident that our experience and production culture can turn CYRP into another success story of Ukrainian business,” said Andrii Horokhov, CEO of UMG Investments.


“Addition of Chasiv Yar Refractory Plant to UMG Investments mining portfolio was part of the vision for its further development. I would like to thank our talented Mining portfolio investment team, the plant’s founders and VESCO management team for their work on this complex project and belief in the result,” Nadiia Kaznacheieva, Investment Director at UMG Investments, commented on the deal.

In addition to modern business solutions, VESCO can offer the community a new approach to cooperation. After all, our business values are based on reliable long-term partnership with the local community.


UMG INVESTMENTS is an investment company specialising in the development of portfolio businesses with high growth potential. UMG Investments was founded by SCM in 2006 as a United Minerals Group holding company for asset management in raw material industries. Since its inception, UMG Investments has expanded its range of activities and changed its business model from a management company to an investment company. UMG Investments representatives are members of the supervisory boards of portfolio companies, which allows them to influence the strategy and operational solutions through corporate governance mechanisms.
VESCO is a group of clay mining enterprises Vesco PJSC, Druzhkivske Rudoupravlinnya PJSC, Ogneupornerud PJSC that form part of UMG Investments Mining portfolio. It is one of the leading clay manufacturers in Ukraine and belongs to the world leaders in producing and exporting white plastic clay. Equipment and modern manufacturing technologies allow us to provide the complete production line, from the extraction of raw materials to finished products production. The production capacity of the company’s enterprises is 3 million tonnes per year. The products are exported to 25 countries.