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News

16.03.2015

EXIAR insures shipments of products made from synthetic corundum

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Monocrystal have signed a one-year comprehensive export credit insurance contract.

The agreement covered insurance of shipments of Russian products made from synthetic corundum to Taiwan and South Korea. There is also the option to expand the insured portfolio at a later date. Projected forecasts put the insured party’s annual trade turnover at up to USD 20 million.

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).

Monocrystal is one of the world’s leading manufacturers of synthetic sapphire for high-tech applications in electronics, optical devices and metallisation pastes for solar cells. The company develops and supplies top-quality innovative products for leading manufacturers of LEDs, integrated circuits and solar cells.

External Communications EXIAR