Andrey Verevsky - Like clock-work
Net Worth: $ 715 million (June 2008)
Age: 33 years old
Marital status: Married, has three children
Last year: $ 250 million
Industry: Food industry
It was a hard year for Andrey Verevsky. Prime minister, Yulia Tymoshenko, limited the export sales of sunflower seeds. But by some miracle, Verevsky, a BYUT member, was granted the highest export market quotas than any other market player. As a fictional salesman from a play by Alexander Ostrovsky used to say: “who needs a promissory note? aren't we in the same boat?”
But in spring a new misfortune happened. Experts from Western Europe allegedly found the particles of fuel oil in the Ukrainian vegetable oil. This caused quite a panic in Europe. In fact every second liter of vegetable oil, sold internationally, is produced in Ukraine. Fortunately, later it turned out that neither fuel oil nor petroleum was present in the domestic product. The crisis was over, but not without a trace.
Still, Verevsky’s business group is getting stronger. It purchases two agricultural enterprises from a Cypriot company, these enterprises lease up to 4.5 thousand hectares of plough-land. This combined with 25 grain elevators, 56.4 thousand hectares of leased land and three butter-making plants, is quite a good asset for further growth. However, Verevsky, the owner of 60% share package of Kernel Group holding, has a strong desire to bring his domains to 250 thousand hectares of plough-land in 2008. The businessman plans to allocate $270 millions for this project. That’s a lot of money. But Verevsky can afford it.
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