"Improving the production capacity of FORMEX LTD by purchasing high-performance technological equipment"

FORMEX LTD is a company specialized in the production of serpentines for domestic and industrial boilers, engineering, design, production and repair of food and tobacco processing machines and equipment located in Varna. The company carries out machining of various types of parts (hull and rotary), specialized in the manufacture and repair of machines for the food and tobacco industry, as well as manufacture of products for the household industry. The company has a machine park with basic equipment including CNC machining machines, plasma cutting machine with CNC, abcant, welding welding apparatus and old universal equipment The project proposal is related to the development of the competitive advantages of FORMEX LTD and the creation of conditions for increasing the export potential through increased production capacity, based on improved efficiency of the production processes, including improvement of the resource efficiency and improvement of the quality of the produced products. The project proposal is related to the following activity: Activity 1: "Improving the production capacity of FORMEX LTD" The activity is related to investment in high performance technological equipment CNC lathe and CNC lathe with milling functions in order to expand the capacity of an existing business site of FORMEX LTD. The processing of the parts / family fittings, flanges and lids for household appliances / with low-performance universal lathes, after the execution of the project will be done with CNC lathe and CNC lathe with milling functions. The execution of the activity is related to investments in purchase of CNC lathe and CNC lathe with milling functions. For the realization of the investment there is a selection of a contractor for delivery and visualization of the project activities / with own funds /.

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Overview

Status Closed (completion date)
Start date 10 Feb, 2020
End date 22 Apr, 2021
Contract date 10 Feb, 2020
View in UMIS

Beneficiary

Financial information

Total cost 275,000.00
Grant 192,500.00
Self finance 82,500.00
Total paid 192,500.00
EU participation percent 85.0%

Location