Paratech Signs MOU with Ukrainian Firefighting Company... "Reconstruction Project Accelerates"

Paratech, a company specializing in the manufacturing and installation of fire protection equipment, announced on the 10th that it has signed a Memorandum of Understanding (MOU) with Ukrainian fire protection company STRAZHSPETSTEKH LTD (hereinafter SST) to cooperate on reconstruction projects. Paratech plans to establish a joint venture with SST to export fire protection equipment to Ukraine and directly handle installation on site.

SST is a fire protection equipment company based in the Odesa region of Ukraine. Since its establishment in 2007, it has carried out various fire protection projects across Ukraine, including fire protection installations for public facilities such as railways. Paratech intends to leverage SST’s local sales capabilities and expertise to enter the Ukrainian market stably.

Last year, Paratech demonstrated its global technological prowess by becoming the first company in Asia and the fifth worldwide to obtain the global fire safety certification ‘FM Certification’ for its large drop-type sprinkler product ‘K160’. The K160 features a discharge coefficient of 160 liters per minute, making it effective for rapid fire response and high-intensity fire control.

A Paratech representative stated, “With growing expectations that the war in Ukraine will end and large-scale reconstruction projects will commence, we aim to play a key role in Ukraine’s rebuilding through our local market entry. Since fire protection equipment is essential for reconstruction in housing and other construction sectors, we anticipate significant additional sales through this joint venture.”

He added, “By supplying excellent fire protection equipment and safety technology necessary for reconstruction, we will contribute to designing a safe future for Ukraine. Through cooperation with SST, we will promote technological exchange and mutual development between the two countries.”

Meanwhile, according to the ‘3rd Rapid Damage and Needs Assessment (RDNA3)’ prepared by the World Bank, the Ukrainian government, and the EU, the total cost for post-war recovery and reconstruction in Ukraine is estimated at $486.2 billion (approximately 694 trillion KRW), with the housing sector reconstruction demand accounting for the largest share at $80.3 billion (approximately 115 trillion KRW).

This content was produced with the assistance of AI translation services.