Mining company Velta LLC that extracts titanium feedstock in Kirovograd region has created a new holding and corporate structure, which meets international requirements of private and public financial institutions. Velta Holding LLC thereby combines the existing production assets of Velta LLC and all other projects of the group shareholders.
The company announces that Andriy Nikolaienko leaves the post of the Chairman of the Board of Directors of Velta LLC due to his election to the Verkhovna Rada of Ukraine.
“I think that the final transition of Andriy from business to the civil service is a loss for our company, because it was his contribution that allowed Velta to survive and fully recover from the fire. It is hard to overestimate his contribution in our business, but at the same time he is exactly the kind of effective manager the country needs right now.
Velta is undergoing major transformations due to the attraction of foreign investments. I am pleased to announce that our U.S. partners Glenn Myles and Robert James Woolsey have agreed to join the new Board of Directors of Velta Holding. I am sure that their vast experience, knowledge and significant expertise will allow us to complete the creation of the corporate structure and stimulate greatly the development of new projects,” said Andriy Brodskyy, General Director of Velta LLC.
Priorities of the U.S. partners who joined the Board of Directors of Velta Holding will be attraction of investments, security and business development.
Glenn Myles is the founder and chairman of the First Wall Street Capital. Over the last 35 years, he has executed on nearly $30 billion of financial transactions. Mr. Myles works with the most significant companies around the world that operate mainly in the energy and mining sectors.
Robert James Woolsey is chairman of Woolsey Partners and an advisor to First Wall Street Capital. He was the director of the Central Intelligence Agency in the office of President Clinton, a member of the National Commission on Energy Policy and Defense Policy Board. Mr. Woolsey is now a consultant to private companies and government boards.
The shareholders of Velta Holding are Andriy Brodskyy, the General Director of Velta Holding LLC and Velta LLC, Vitaliy Malakhov and Vadym Moskalenko.
Velta has been mining and processing titanium feedstock in Kirovograd region for seven years. Company’s projects include the development of Likarivske deposit with the same ore body near the operating mining and processing complex. Last year, Velta announced the creation of an R&D center, which works on the development of new methods of processing titanium raw material.