Interpipe plans to launch another workshop for the production of railroad cars. wheels in the second half of 2021
The Ukrainian industrial company Interpipe intends, in accordance with previously outlined plans, to commission a new additional workshop for the production of wheelsets in the second half of this year, said in an exclusive interview with the agency " Interfax-Ukraine ” Director for Economics and Finance of Interpipe Denis Morozov.
“The launch of an additional workshop for the production of wheelsets is scheduled for the second half of this year. Now the equipment is being installed at the site, that is, we can say that the implementation of the project is in full swing, ”the agency's interlocutor stated.
According to him, the company finances all projects from its own funds.
“At the same time, as we reported, last year we attracted a loan from Ukrgasbank for 45 million euros (a five-year loan for 37 million euros and a revolving credit line for 7 million euros for three years - IF), which we used to repay the debt ... As of today, the company has no debt to creditors, "Morozov emphasized.
He also said that the company continues to consider various tools to raise funds.
“Today, in particular, we are developing the financial strategy of the company, which will give answers to the question: where will we raise money from. Today we are working on different scenarios, but we have not yet chosen the priority option, "Morozov said.
At the same time, the top manager noted that at present, the Ukrainian and foreign borrowing markets are almost equal in terms of conditions.
“I don't see the difference whether to raise money in the domestic financial market or abroad. If the financial conditions are good, a fair market interest rate, normal conditions, then why not attract them in Ukraine? If there are good conditions in Europe, why not take a loan there? Therefore, in this case, we do not separate Ukraine and foreign countries, for us it does not matter. We are ready to work with any creditors, ”Morozov emphasized, adding that today rates in Ukraine are practically at the same level as in the West, for example, in Europe.
As reported, at the end of January 2021, Interpipe announced an early full redemption of Eurobonds maturing in 2024 for a total amount of 309 million 192.058 thousand, fully fulfilling its obligations undertaken during the debt restructuring in October 2019.
In October 2019, Interpipe announced a restructuring of its debt, which was formalized by a new issue of Eurobonds maturing in 2024 and bank loans totaling $ 400 million.
Interpipe is a Ukrainian industrial company, manufacturer of seamless pipes and railways. wheels. The company's products are supplied to more than 80 countries of the world through a network of sales offices located in key markets of the CIS, the Middle East, North America and Europe. In 2020, Interpipe sold 662 thousand tons of finished products, including 192 thousand tons of railway products. Railway sales products are carried out under the KLW brand.