Strengthening the potential of Codkey Technologies Ltd. for export of premium locking mechanisms and systems through investment in new production capacity

Codkey Technologies was established in 2004 for the purpose of manufacturing digitally-coded locking mechanisms. The production is based on a Swiss license used by two companies in Europe only: the world leader Abbloy and Codkey Technologies. The technology may generate 15 thousand possible combinations which guarantees uniqueness of locking. The product portfolio comprises of locking mechanisms and systems for: - homes - offices, administrative buildings, hotels - premises under special supervision and controlled access, for ex. electricity distribution companies At this stage the applicant is incapable of satisfying the increased export demand of premium locking mechanisms with increasing complexity at locking, in large volumes, produced within short deadlines. The company cannot expand its current long-time export market presence due to chronically insufficient capacity for laser cutting, turning, grinding, boring, milling. In order to satisfy the increasing volume of orders and to provide quality of no compromise at optimal cost, the company needs to radically enhance its manufacturing capacity – with last generation metal working machines to complement the existing equipment. Capacity enhancing will be achieved through the following activities: - Improvement of manufacturing processes; - Adding new features and improvement of existing products; - Implementation of new technologies to improve resource efficiency. These activities will be fulfilled by purchase of the following tangible assets: - Laser cutting machine - 5-axis processing center - CNC lathe The increased capacity and productivity, combined with high-end parameters of manufacture quality are a basic factor towards the increase of the export potential of Codkey Technologies Ltd. Through this project the company will preserve, improve and create new market positions in Germany, Denmark, Serbia, Romania, Czech Republic, Macedonia.

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