iToxsi (CEO Jeon Bong-gyu) announced on the 10th through a public disclosure that it has signed an export contract with Ukraine's Spec-Com-Service (hereinafter SKS Group) for a total of 400 KG Mobility pickup trucks, Musso Grand (approximately KRW 12.5 billion), and has received the purchase order and down payment for the first shipment of 150 units (approximately KRW 4.7 billion).
Since the second half of last year, iToxsi has been participating in pickup truck bids for Ukrainian public institutions together with the local SKS Group. Recently, in the pickup truck bid by the Ukrainian National Police Agency, iToxsi succeeded in securing the supply contract for KG Mobility’s Musso Grand, surpassing the strong competitor, the French Peugeot pickup truck Landtrek.
The total export volume is 400 units, to be shipped in two batches, and due to an urgent request from the Ukrainian National Police Agency, the first supply of 150 units (approximately KRW 4.7 billion) is scheduled to be shipped at the end of March.
The SKS Group includes ‘Polika,’ Ukraine’s No. 1 special vehicle manufacturer, boiler manufacturer ‘Koteka,’ and industrial tool manufacturer ‘Livius.’ In particular, ‘Polika’ ranks first in manufacturing and selling special vehicles for construction and freight transport, and supplies special public-purpose vehicles such as fire trucks, ambulances, garbage trucks, and tank trucks to major public institutions including the police, fire departments, and local governments.
Currently, as hopes for the end of the war rise in Ukraine, demand for 4-wheel pickup trucks for post-war damage recovery has surged. Especially in war-damaged areas where roads are severely damaged, general passenger cars and freight trucks have difficulty passing, making pickup trucks the core transportation means for major public institutions.
After establishing a local joint venture in November 2023, iToxsi has shown continuous progress related to Ukraine’s reconstruction projects. With the push for peace between Ukraine and Russia gaining momentum since President Trump’s administration, this contract is expected to mark the beginning of the fruition of iToxsi’s prepared reconstruction projects.
The company stated that, together with SKS Group, besides this police agency bid, they are currently participating in large-scale pickup truck bids for the U.S. Embassy and major public institutions, expecting additional orders of about 3,000 units annually (approximately KRW 100 billion).
iToxsi CEO Jeon Bong-gyu said, “As recent peace negotiation discussions have taken place, the results of iToxsi’s company-wide efforts in Ukraine reconstruction projects have begun to emerge. In addition to this KG Mobility pickup truck export contract, last month on the 24th, we made the first export shipment of Korean cosmetics to ‘EVA,’ Ukraine’s largest H&B store (the Ukrainian version of Olive Young), and the joint investment project for Ukraine’s only flat glass factory, BFG, is also progressing smoothly.”
Meanwhile, iToxsi is expected to establish itself as a leading company in post-war recovery and reconstruction projects by recording the first performance related to reconstruction projects among listed companies classified as Ukraine reconstruction stocks.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
