The investing partners bought 50 new power-tools, part of which had been already imported into Ukraine, told Garik Korogodskiy via his Facebook account. The new enterprise will create some 100 jobs in Kharkiv and Ukraine. The money was invested from abroad and the amounts remained undisclosed. The first batch of products will be ready by March 8, 2016. In the meantime, the company plans to become a leading supplier of plywood woodcraft kits by the end of 2017. TM Playwood is keen to outplay its direct competitor TM UGears made by Ukrainian Gears Ltd. To remind, UGears crowdfunded USD 150 000 at Kickstarter upon claiming USD 20 000 for the project of wooden 3D devices (gears). At that time, more than 1 700 people from all over the world contributed for the project.
According to the company registers, Play Wood Ltd was registered in October 2016 with a charter capital worth UAH 1 000 only. The CEO of the company is Elizabeth Korogodskaya, a daughter of Garik Korogodskiy. The partner Aleksander Prasol manages a company producing welding rods and abrasive tools under Zim trade mark.
