Improvement of the production capacity of Faiar Ltd.

Faiar activities are in machine-building. In 2017 part of the business is the production of metal constructions, parts and components – small, medium and large size, which afterwards are put in the repair of machines and equipment, with a general and special purpose. The business is export oriented. The repair activities are mainly on large and medium size equipment, and until 2017 the spare parts for these works were supplied mainly from other metal-processing companies, and only a small part was produced internally. This significantly increased the cost of the repairs, good quality and efficiency were not achieved, due to time loss for deliveries. In 2017 Faiar implemented a project under OPIC scheme for the purchase of a CNC Cutting Center for production of necessary parts for the repairs, which until then was done with used equipment. In spite of this, Faiar was not able to satisfy some demands of the clients and had to reject some orders. This created the need to increase capacity. This project includes the purchase of a vertical-horizontal CNC Processing Center for increasing the capacity for medium size and large parts. The aims and effects of it are: 1.Repair activities: the increased amount of produced parts will lead to a growth in revenues from repairs of large equipment, with high quality, making this activity more sustainable, and the company more flexible and efficient. Orders would not be rejected. 2.Production: the current production capacity will increase for medium size and large parts put in the repairs. Due to the higher efficiency of the machine the costs and waste will decrease, the quality and efficiency of the spare parts will improve. 3.As a result of 1 and 2 Faiar will increase its sales in the country and abroad, will decrease production costs, will generate higher and stable cash-flows, will decrease the risk of the business. More sustainable future growth will be achieved, a step towards higher competitiveness on the European market.

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