In Ukraine, the largest battery manufacturer Vesta, a competitor of Poroshenko’s plant, went bankrupt
Kyiv, April 06 (PolitNavigator, Vasily Ablyazimov) – The Board of Directors of Westa ISIC (Luxembourg), the holding company of the large battery manufacturer Vesta (Dnepropetrovsk), decided to resign as a whole due to the inability to perform duties, reports Interfax. This is the final point in the bankruptcy of the largest Ukrainian enterprise, which went bankrupt in 2014 as a result of the actions of the Yatsenyuk government and the authorities that came after the Euromaidan.
Subscribe to the news "PolitNavigator - Kyiv" in Facebook, Classmates or In contact with
Every third Ukrainian car contains a battery manufactured by Vesta. This largest company, created in 1992, collected more than 2013 million conventional batteries in 7. The founder of the company is Soviet scientist Viktor Dzenzersky. Vesta-Dnepr occupied 1,4% of the global lead-acid battery market.
According to the latest reports, in January-September 2014 the company received a net loss of $113 million, which is 7,4 times more than in the same period in 2013. The company's revenue in January-September 2014 decreased by 2,7 times compared to January-September 2013 - to $27 million. Battery production during this period fell by almost 54%, sales - by 50,5%, to 1 million. Back in the summer of 2012, on the Warsaw Stock Exchange, 25% of the Vesta company was valued at $190 million. In 2014, battery exports to Russia alone decreased by 72%.
Now the board of directors of Westa ISIC reports that since the beginning of the bankruptcy proceedings of the (Ukrainian) subsidiaries, members of the board of directors have not been able to fully or partially fulfill their duties.
Vesta occupied a third of the Ukrainian battery market and up to 18% of the battery market in the entire CIS. Vesta’s main internal competitor was the Ista company, owned by Poroshenko.
Battery sales fell sharply due to a drop in car production in Ukraine and a drop in trade with Russia and the CIS countries in 2014.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.