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20.07.2015

EXIAR insures Russian metallized materials

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Galileo Nanotech Closed Joint Stock Company have signed a deal for comprehensive export credit insurance for a period of one year.

The agreement calls for EXIAR to insure deliveries of metallized materials (paper, plastic, cardboard) that are then used for packaging fast-moving consumer goods (FMCG), as well as gift boxes and bags. 

Currently, goods exported to Kazakhstan and Bulgaria are insured. The insurance agreement also envisages the possibility of broadening the portfolio of insured goods. According to preliminary forecasts, the annual turnover for insured counteragents could reach more than €500,000.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. EXIAR's mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 31 billion. Since November 2014 Eximbank of Russia, a Russian specialized government–owned export–import bank, has been a subsidiary of Russian Agency for Export Credit and Investment Insurance (EXIAR).

The Galileo Nanotech group of companies is the largest manufacturer of metallized materials in Eastern Europe. The Galileo Coating Technologies (GCT) Plant is located in the city of Khotkovo in the Moscow Region. The company produces paper and plastic materials for labels as well as cardboard packaging for premium individual packages. The company's products enjoy large demand both in Russian and foreign markets, i.e. countries in Europe, the Americas, Asia, and Africa.

External Communications EXIAR