For 5 months of 2023, the company produced 61.7 thousand tons of marketable products
Production and commercial company Velta with assets for the extraction of titanium ores in Novomyrgorod (Kirovograd region) in May 2023 increased the extraction of ilmenite (titanium) ore by 1.9 times compared to April – up to 21.052 thousand tons. It is stated in the company’s press release.
In general, for 5 months of 2023, Velta produced 61.704 thousand tons of marketable products.
“Such growth in the private sector gives positive signals for the Ukrainian market of titanium raw materials, where state-owned companies are now experiencing a 60% drop in production compared to last year,” the report says.
In addition, since 2022, after a fall due to the pandemic, the titanium dioxide pigment market, which is the main sales area of Velta, has been growing.
“We feel a responsibility to the Ukrainian titanium industry, because only Velta manages to maintain a high level of production from the market. In addition, we have a responsibility for those we support at the front, for the country’s budget, for each employee. Velta continues volunteer activities, pays all taxes and wages in full,” said the CEO of the company Andriy Brodsky.
The biggest problems for Ukrainian industrial companies remain logistics (blocking of seaports, queues at the borders for rail transport) and access to energy.
In 2022, the company reported 62% fulfillment of the plan.
As GMK Center reported earlier, in April 2023, Velta announced plans to build a plant in the USA for the production of titanium products using our own innovative technology. Before the start of a full-scale invasion of the Russian Federation, the company began to build a pilot plant for the production of titanium products, but because of the war, the project was stopped. In addition, Velta already had experience in building enterprises in the UAE, but due to an incomprehensible position regarding Ukraine, this country was no longer considered for investment.