NEQSOL Holding becomes the owner of “United Mining and Chemical Company” JSC (UMCC) – one of the largest titanium raw material producers in the world.
Titanium production is at the center of global attention due to the steadily growing worldwide demand. This strong and lightweight metal is widely used in various industries and is critically important and highly sought after in the aerospace industry, the production of high-tech medical devices, prosthetics, electronics, and the chemical industry.
The company "Cemin Ukraine,” which is part of NEQSOL Holding, became the buyer of 100% of the shares of the state-owned “United Mining and Chemical Company” following an auction for the company’s privatization. The privatization deal was also approved by the Cabinet of Ministers of Ukraine.
“United Mining and Chemical Company” JSC is among the top ten producers and processors of titanium and zirconium ore concentrates in the world and is the largest in Europe, holding 4% of the global market. In 2020, the company produced almost 350,000 tons of titanium and zirconium ore concentrates. The company includes the Vilnohirsk Mining and Metallurgical Plant in the Dnipropetrovsk region and the Irshansk Mining and Processing Plant in the Zhytomyr region of Ukraine.
“With the acquisition of the “United Mining and Chemical Company,” we continue to implement our strategy of international business expansion. UMCC is one of the world’s largest producers of titanium raw materials, which are of great importance and application in various strategic industries. This deal will strengthen our holding’s position in the international business arena. As a strategic investor, we will contribute to the modernization and further development of the company,” NEQSOL Holding’s management commented on the deal.
NEQSOL Holding is an international group of companies operating in 11 countries in the areas of telecom, energy, construction, and hi-tech.