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Ukrainian company Cryoin Engineering, a key link in the global semiconductor supply chain, has suffered a brazen raider takeover. The Odessa-based company, renowned for producing ultra-pure rare gases essential for everything from medical equipment to smartphones, has found itself caught in the crosshairs of a corrupt cabal of Ukrainian officials.
According to their LinkedIn page, Cryoin’s gases are essential to industries across Europe, Japan, South Korea, China, Taiwan, and most notably, the United States.
The disruption of Cryoin’s supply chain is already rippling across the globe, potentially causing significant delays and shortages in semiconductor production, an industry already strained by recent supply chain issues.
The Corrupt Takeover of Cryoin Engineering
The troubles for Cryoin Engineering began when Evgeny Borisov, a notorious Ukrainian military commissioner, demanded $2 million and a 60% ownership stake in the company. When Cryoin’s leadership refused to comply with these outrageous demands, Borisov orchestrated a series of legal and extralegal actions to seize control of the company.
To bolster their attack, these corrupt officials enlisted the help of media outlets under their influence. Prominent among these was NV.ua, which launched a smear campaign against Cryoin Engineering, accusing the company of using Russian raw materials and collaborating with Russia’s defense industry – claims that are not only baseless but defy logic.
The True Story Behind Cryoin Engineering
Cryoin Engineering is one of the world’s leading producers of ultra-pure inert gases, which are vital in fields ranging from medical research to high-tech manufacturing. Unlike many of its competitors, Cryoin produces these gases using air separation processes, meaning they do not rely on non-renewable natural resources. This eco-friendly approach highlights the company’s commitment to sustainable production.
At the same time, the company is facing unfounded accusations of collaborating with Russia. Cryoin Engineering has long been a key supplier to countries like the United States, the UK, Japan, and South Korea. Why would such a reputable company risk its standing by dealing with Russia, a nation that not only started the war but also continues to bomb Odessa – the very city where Cryoin’s operations are based?
These accusations are a clear attempt by corrupt officials and their media to manipulate public sentiment by exploiting patriotic rhetoric. Their goal is to make Cryoin leaders look like traitors just because they refused to pay bribes.
A Global Wake-Up Call
The case of Cryoin Engineering is a stark reminder of how corruption can destabilize critical industries with global implications. As the semiconductor industry grapples with the loss of one of its key suppliers, the world is witnessing firsthand the destructive power of unchecked corruption in Ukraine. It is crucial for the international community to recognize these dangers and support efforts to bring transparency and accountability to all levels of government, ensuring that businesses like Cryoin Engineering can operate without fear of corrupt interference.
David Prior
David Prior is the editor of Today News, responsible for the overall editorial strategy. He is an NCTJ-qualified journalist with over 20 years’ experience, and is also editor of the award-winning hyperlocal news title Altrincham Today. His LinkedIn profile is here.
