The Ukrainian state has completed the sale of the ‘Titan Institute’ for 30.4 million UAH to the company ‘Novobudenergo’ from the Volyn region. The enterprise was the sole participant in the auction, allowing it to acquire the asset at a price three times lower than the initial value. In addition to the amount, the winner also assumes the company’s debt obligations, which exceed 72 million UAH.
This is reported by Business • Media
Details of the deal and asset characteristics
The sale of the ‘Titan Institute’ took place on the third attempt. The object put up for auction includes 56 units of real estate with a total area of 26,480 square meters, as well as three vehicles. The buyer is ‘Novobudenergo’, established in 2013 in Lutsk. The main activity of the enterprise is the production of construction metal structures and their parts.
History and significance of the ‘Titan Institute’
The ‘Titan Institute’ was established in August 1956 in Zaporizhzhia to provide design and engineering documentation for the titanium-magnesium plant. Over the decades, the institute has become a leading scientific center in the field of titanium and magnesium industry. According to the official website of the enterprise,
‘The Titan Institute’ is the only comprehensive research and design institution in Europe in the field of titanium and magnesium production, as well as primary non-ferrous metallurgy.
Currently, the enterprise is known for its unique developments in metallurgy, which are of significant importance for Ukrainian industry and science.
Additionally, the State Property Fund of Ukraine plans to hold an auction on September 12 for the sale of the enterprise ‘Spetsagro’ in the center of Kyiv. The starting price of the asset is nearly 5 million UAH. The property complex includes 36 units of real estate and infrastructure, 11 vehicles, and 27 units of equipment, with a total area of 10,814 square meters.