Centravis is raising €35mn to modernize its manufacturing facility. The upgrades will include implementing energy-saving and environmentally friendly solutions while expanding product lines.
The Ukrainian company plans to invest €7mn per year towards the development of new products, according to media reports. Centravis produced 19,050mt of seamless tubes and pipes in 2020, down 9.3pc against 2019, and sold 19,800mt of tubes last year.
The company invested €1.85mn ($2.2mn) in production upgrades in 2020 and has plans to raise that amount to €8-10mn in 2021.
Centravis was established in 2000 and employs 1,400 personnel in Ukraine. The company supplies seamless tubes and pipes to the EU, Middle East, Latin America, India, Japan, and North America. Centravis’ main customers include Buhlmann Group, DAmstahl, thyssenkrupp, and Salzgitter.
($1=€0.84)