Place/Date: Dnipro, Ukraine - November 14th, 2017 at 11:12 am UTC · 3 min read
Contact: Dmitry, Source:
Subsidiary of Savex Minerals Enterprise, Armor Ceramics has set out with a goal to build a self-sustainable refractory market inside of Ukraine to eliminate the need for foreign import. Combined with their blockchain system ‘SupChain’, Armor Ceramics will be the first Ukrainian company to provide a transparent system for quality control. The company is currently in a fundraising phase pre-ICO sale of its tokens, until November 30, 2017, allowing early contributors up to 35% bonus options.
Refractories are a high-demand product for Ukraine, with estimates revealing that over 500,000 tons of refractory products are sold within the country each year. Until now, the only way to satisfy this demand has been through foreign import; a process that often means high costs and long delivery times. With its domestic production plants, Armor Ceramics aims to replace one-third of all imports by reducing delivery times, and cutting the cost of production by 15-20%.
Armor Ceramics will be the first in their industry to implement a blockchain solution for refractories data. SupChain, built on Ethereum, will be the first system to allow transparent access to production data and technical indicators in the refractories industry. Users will be able to give real time feedback with regards to supplied materials, and offer their suggestions for improvement. This open process cuts out expensive and time consuming third party audits. It will also provide a direct way for suppliers to interact with their customers. The end result is a seamless and reliable quality control process.
Armor Ceramics is seeking the necessary funding to build new domestic production systems. The pre-ICO will be launched to determine the hardcap for the ICO. If successful, the enterprise has the potential to bring in $250,000 of profit each month. Armor Ceramics’ token (ACR) will grant ICO participants with a proportional share of the company’s profits. All holders of ACR will be able to collect dividends in accordance with their shares. However, ACR tokens do not allow participants to maintain a vote in the management of the company.
40 million of tokens will be issued at the initial price of $1, with all unsold tokens destroyed after the initial offering period. The amount of tokens sold will be equal to 50% of the company’s profit. Payments are expected to begin 22 months after the company is cash flow positive. Once payments have begun, profits will be distributed monthly amongst all token holders.
Armor Ceramics is a subsidiary of Savex Minerals – a long standing supplier to metallurgical and ore-dressing plants. The company is run by a team of Savex Minerals executives with key experience in material production. Armor Ceramics is working diligently to organize their production systems, and to expand their work on SupChain technology.
Disclaimer: Armor Ceramics is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.