PrJSC Centravis Production Ukraine, part of Centravis Ltd., intends to invest EUR 10 million in the renewal of production and expansion of capacities in 2022, as well as in improving energy efficiency, while in 2021 it used EUR4 million of investments, Yuriy Atanasov, the CEO of Centravis, said during an online press conference.

According to him, capital investments in 2020 amounted to EUR2 million. “For 2021, it was planned to invest EUR 7.5 million, but used EUR 4 million. We implemented several landmark projects – we were able to launch our own boiler houses to provide steam and heat production, thanks to which gas costs halved. We also invested in the renewal of pickling sites – we are leaving from aggressive technologies, plus a reduction in energy costs. Some of the projects have been transferred to 2022. We also intend to invest in additional capacities,” Atanasov explained.

The company in 2021 received income in the amount of EUR140 million, for 2022 the plan is EUR200 million. At the same time, the CEO specified that the growth in income is mainly due to rising prices.

The top manager pointed to three important factors that took place in 2021: a sharp recovery in the market and a “hysterical” increase in demand.

“Markets have moved into a state of activity very quickly since the end of 2020. And it was difficult – we were not ready for this. The second factor – a sharp unwinding of inflation, rising prices for energy resources, for materials, for our raw materials – there was a catastrophically sharp increase in prices. And we had to take this into account in our work. The third factor is how we work to expand our capacities. We did not use an extensive method, we did not increase hiring of personnel, but went along the path of increasing efficiency. And we are directing investments towards systemic expansion of capacities. This determined our actions last year,” the CEO explained.

The head of the enterprise noted that the company is optimistic about 2022 and the future.

“Centravis strengthened its position as a reliable supplier. And the markets are diversified – Europe, Asia, and the Russian market is less and less,” Atanasov stated.

Centravis is one of the world’s largest manufacturers of seamless stainless pipes, founded in 2000. Its production facilities are located in Nikopol (Dnipropetrovsk region). It is included in the top ten global players. The company employs more than 1,400 people.

LINK: https://open4business.com.ua/centravis-plans-to-invest-eur-10-mln-in-2022/

USUBC NOTE: Centravis is a leading global supplier of high quality solutions in the segment of seamless stainless pipes and tubes, and is a member of U.S.-Ukraine Business Council (USUBC) www.USUBC.org,  Centravis has an office in Houston, Texas that handles their sales in the U.S. and the import of their products from Ukraine. Yuri Dinets, is General Manager.