Luminor the bank has granted financing in the amount of 210 thousand euros to the industrial fan manufacturer SIA Ventspils fan factory. The company will invest in the purchase of two new equipment.
Ventspils fan factory manufactures all types and modifications of industrial fans – low, medium and high pressure radial fans, smoke extractors, dust, roof and shaft fans, as well as various types of metal constructions. The company provides full-cycle production: fan parts are laser cut from steel, aluminum or stainless steel sheets, further processed by welding specialists, and finally the parts are cleaned and painted in a modern powder coating shop.
The company plans to supplement the plant equipment with two new equipment, which will increase production capacity and provide quality metal cutting and bending services, allowing the company to significantly increase turnover and expand cooperation with existing and potential customers. The total cost of the new equipment is 259 thousand euros, of which 210 thousand is provided by Luminor banka with Altum guarantee, but the remaining 49 thousand is the company’s own investment.
“The company SIA Ventspils ventilatoru rūpnīca is the only one in the Baltic States that is engaged in the production of fans – it is a narrow but important field of activity. The company’s products are mainly used in such industries as textile processing, wood processing, metallurgy and chemical industry, so companies in these industries in Latvia can order the necessary fans here in Latvia, instead of relying on long supply chains. It is important that Ventspils fan factory ensures full cycle production, which allows fans to be fully adapted to customer needs. We are glad that we can support this company and contribute to its development, ”says Ilze Zoltnere, Head of Luminor’s Corporate Department.
“We sell our products both here in Latvia and export to Germany, Switzerland, Lithuania, but we want to increase production and export volumes. We are especially pleased that Luminor banka has decided to support the metalworking industry in Latvia even in these difficult times and has provided us with the necessary investments for the development of the company’s operations. Thanks to the available funding, we see an opportunity to improve, establish new cooperation and offer customers faster service, ”says Sergejs Mihaiļuks, a member of the board of Ventspils fan factory.
SIA Ventspils ventilatoru rūpnīca was founded on the basis of a fan factory with a 30-year history. The company started in 2006 as a manufacturer of metal structures and industrial fans. At present, it produces all kinds of industrial fans and various metal parts, metal structures. The company’s products are widely used in agriculture, chemical, textile, woodworking, metallurgy and other industries, and it is sold both in Latvia and exported to EU countries, etc.
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