(MENAFN- AETOSWire) (BUSINESS WIRE )--NEQSOL Holding, a global investment group managing diverse businesses across 11 countries from headquarters in Amsterdam, Baku, and Kyiv, is currently in the process of acquiring the United mining and Chemical Company JSC (UMCC) – one of the largest titanium ore raw material producers in the world.
Cemin Ukraine, a company part of NEQSOL Holding, is in the process of purchasing 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 approved by the Cabinet of Ministers of Ukraine and is now subject to further regulatory approval.
United Mining and Chemical Company JSC is among the top ten producers and processors of titanium and zirconium ore concentrates in the world. In 2020, the company recorded production of 350,000 tons of titanium and zirconium ore concentrates. UMCC was established by the government of Ukraine to manage and operate Vilnohirsk Mining and Metallurgical Plant in the Dnipropetrovsk region and Irshansk Mining and Processing Plant in the Zhytomyr region of Ukraine.
With the acquisition of the United Mining and Chemical Company, NEQSOL Holding continues to implement strategic 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. Upon completion, this deal will strengthen the Holding's position in the international business arena.
Volodymyr Lavrenchuk, Regional Director of NEQSOL Holding Ukraine, commented:“NEQSOL Holding is currently in the process of acquiring UMCC, which includes several further steps. With this bold move, the Holding is contributing to Ukraine's rebuilding efforts and positively signaling to other global investors to consider investment in Ukraine. Upon completion, the Holding looks forward to the further strategic development and modernization of UMCC, in compliance with all global controls related to the titanium industry.”
About NEQSOL Holding:
NEQSOL Holding is a global investment group employing over 12,000 people in 11 countries, including the U.S., U.K., Azerbaijan, Ukraine, the Netherlands, Georgia and Turkey. The group operates through its three headquarters in Amsterdam, Baku, and Kyiv, managing businesses in telecommunications, energy, construction, high-tech and now titanium industries. NEQSOL Holding serves more than 25 million customers worldwide.
About UMCC Titanium:
UMCC is a mining company in the titanium mineral sands business, with operations in the upstream segment of mineral resources extraction, processing and beneficiation. UMCC is one of the largest ilmenite and rutile miners in the world. Since 2019, it has been in the management of the State Property Fund of Ukraine. It is among the 100 largest taxpayers of Ukraine.
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