Improvement of the production capacity in PETROMET Ltd.

PETROMET OOD is a company established in the city of Plovdiv in 2002. The Company’s main activity is the production of industrial cooling and ventilation equipment. The products include refrigerator and freezer vaporizer plates - No Frost evaporators; frame evaporators, etc., and for over 15 years the Company has producing for its main clients – Liebherr-Hausgeräte and Gorenje. The main restrictions the Company is faced with are the lack of capacity and technologies to allow the production of larger volumes. Currently, some of the operations are carried out with manual tools and/or by sub-contracting to third parties. Therefore, the Company’s main strategic aim, as well as the main aim of this project, is to expand its production capacity and increase its export potential. In order to achieve this aim, the project envisages the following specific objectives: + improving production processes through optimization and automation; + expansion and modernization of production facilities; + improving the quality of end products. In order to attain these objectives, the Company plans activities aimed at expanding the production capacity, including the purchase of 10 new specialized production machines. The expected outcomes are: + increase in the production capacity of the Company’s main operations; + 15.12% increased productivity compared to the average weighted productivity of the company over 2015-2017; + 65.69% growth in average revenue generated from export compared to the average weighted revenue from export over 2015-2017; + 16.63% growth in the company’s net sales revenue compared to the weighted average over 2015-2017; + permanent entrance into new export markets and reinforcement of market positions at current ones.

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