Ukraine is a large agricultural nation producing and exporting a variety of agribusiness products. The sector is a large employer and has a significant importance for export earnings in the war-torn economy of the country.
IFU has made a new investment in Seguro-Thyregod LLC, which is a Danish-owned subsidiary producing equipment for the agribusiness sector including tipping trailers and components for feed mills and biogas plants, for example. The production is for the Ukrainian market as well as for export.
The investment of EUR 1.5 million will support the company in further expanding its business and products, which are in high demand. Today, Seguro-Thyregod LLC employs 56 people, and the expansion is expected to add around 20 more employees. The increased production will have a positive impact on the agribusiness sector and the economic development in the Lviv region in western Ukraine.
“Thyregod LLC has been manufacturing in Ukraine for the past five years and steadily expanded our activities. With this loan agreement we can keep expanding our operations in Ukraine in difficult times.”
Jakob Hansen, CEO Thyregod LLC.
Increase number of female workers
Traditionally, production of machinery is a male-dominated business. But as more and more men are enrolled in the Ukrainian army, companies have difficulties in recruiting the necessary number of staff. Consequently, IFU is providing a grant from IFU’s SME Support Facility to co-finance the recruitment of female staff, who will be offered education and training as welders and machine operators.
“It is obvious that there is a need to find substitution for the male employees, who are enrolled in the army. Therefore, we are pleased to support Seguro-Thyregod LLC in their effort to find, educate and train female employees enabling the company to continue and develop its business.”
Olexiy Parkhomchuk, Investment Director, Representative Ukraine.
IFU continues to invest in Ukraine
Historically, Ukraine has been a significant investment destination for IFU. And despite the ongoing war, IFU continues to make new investments in the country based on additional funding from the Danish government.
“We have a strong commitment to continue our investments in Ukraine and assist in maintaining a well-performing private sector that despite all the challenges can create better opportunities for the country to rebuild faster and better. The investment in Seguro-Thyregod LLC is a good match with our strategy, and we are looking forward to continuing our cooperation with the company, going forward,” said Olexiy Parkhomchuk.