Ukraine's leading English-language newspaper since 1995

Net Worth: $221 million

Age: 66

Marital status: Married, two daughters

Last year: $727 million

Industry: Heavy machine building

A year ago, Georgy Skudar had a full list of orders from Ukraine and abroad. Industry throughout the world needed what his Novokramatorsk Machine Building Factory (NMBF) was producing – equipment for hydroelectric stations, mining companies and metallurgical plants. Up to 80 percent of orders were paid for in foreign currency. It was like a dream – until November 2008. NMBF halted production for Ukraine consumers as they became insolvent and refused to take pre-ordered equipment. Even top customers such as Rinat Akhmetov’s Azovstal, Eduard Shifrin’s Zaporozhstal and Konstantin Zhevago’s Poltava ore mining and processing works. “The lack of resources, which are locked up in bank accounts, is particularly painful for us,” complains Skudar. “We can’t buy components or raw materials that we need for production.” In 2008, Skudar planned to increase turnover to Hr 3.3 billion. He planned for production volumes to reach Hr 5 billion in 2009. Both these heights proved unconquerable. More relevant is Skudar’s forecast made at the height of the crisis: “Prepare for the worst.”

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