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The REC Group provided insurance for export risks of TECHNONICOL

TECHNONICOL and EXIAR entered into a short-term receivables insurance contract. EXIAR will compensate up to 90% of the cost of insured supplies in the case of foreign counterparty default. The insurance covers both business and political risks. The volume of insurance support amounts to more than 2 billion rubles.

The insurance coverage is designed to protect the company from potential financial losses if foreign buyers fail to meet their payment obligations.

“We have been cooperating with the REC Group in the field of financial and non-financial support measures since its establishment. Cooperation with the Russian Agency for Export Credit and Investment Insurance will allow us to ensure stable export supplies, strengthen our positions in conventional markets, and also work safely with partners in new countries, - Sergey Kolesnikov, co-owner and managing partner of TECHNONICOL, comments, - the EXIAR’s instrument will make it possible to secure our foreign economic operations while maintaining the volumes of supplies abroad. It will surely facilitate the signing of deferred payment delivery contracts while maintaining conditions that are comfortable for buyers.”

“Expansion of cooperation with Technonikol Group in the field of credit insurance demonstrates a high level of trust in REC Group and the demand for financial instruments that allow minimizing the company’s risks when working with foreign partners. We hope that this deal will become a spectacular example of competent credit risk management when entering foreign markets for representatives of the construction industry,” Maxim Kobin, Vice President of EXIAR JSC.


TECHNONICOL is a leading international manufacturer of reliable and efficient building materials and systems. The company offers the latest technologies that combine the developments of its own Research Centers and advanced world expertise.

TECHNONICOL, headed by Sergey Kolesnikov, has 56 production sites in 7 countries (Russia, Belarus, Lithuania, Italy, Great Britain, Germany, Poland), 22 representative offices in 18 countries, 20 training centers, 6 scientific centers fitted with high-tech equipment, and qualified personnel. The centers regularly develop and implement new products and solutions for the construction industry. TECHNONICOL started its first shipments abroad in 1998. Over the past five years, the share of export sales of TECHNONICOL has exceeded 30%. Currently, the company’s products are supplied to 117 countries worldwide. TECHNONICOL has headquarters in Russia, Poland, Italy, China, and India. Its revenue amounted to 112.9 billion rubles in 2020.

EXIAR JSC is part of the Russian Export Center Group, which, in turn, is part of VEB.RF. The REC Group and VEB.RF are actively involved in achieving the goals of the “International Cooperation and Export” national project, which is designed to develop the export competitiveness of Russia for the next 10 years. The project’s benchmark is to achieve a 70 percent increase in non-resource non-energy exports in monetary terms by 2030.

EXIAR supports export activities by insuring business and political risks. In 2020, the volume of risks insured by EXIAR reached a record level of 1 trillion rubles.