Business
Update on Albanian Manufacturing Facility
Update on Albanian Manufacturing Facility.
About this update from Zenova Group Plc
[{"type":"text","content":"\n\n13 May 2025\nZenova Group PLC\n \n(\"Zenova\", the \"Company\" or the \"Group\")\n \n \nZenova's new factory facility in Albania now fully operational and ahead of schedule\n \nZenova Group PLC (AIM: ZED), a leading innovator in fire suppression and temperature management solutions, is pleased to announce that following the decision to ship and install manufacturing equipment in Albania as previously announced on 14 April 2025, the factory is now fully commissioned and has produced the first batches of Zenova FP.\n \nZenova now anticipates supplying its coating products almost immediately to local customer orders, generated following a successful sample program conducted recently. Based on the high levels of customer satisfaction from these small batch samples, the Company expects local demand to continue beyond these initial orders.\n \nThe new manufacturing facility has been established in a factory provided by AED, Sh.p.K, the Company's local sub-distributor, which have completed extensive building upgrades, including the installation of a two-story purpose-built laboratory. AED's management team have committed considerable capital to make this new facility a reality and are highly confident of current revenue projections from the new, local production.\n \nZenova anticipates that revenue from this facility will exceed €2m within the first 12 months of operations and grow steadily over time.\n \nThomas Melchior, CEO of Zenova Group PLC, commented; \"This exciting achievement, concluded ahead of schedule, marks the beginning of what Zenova's management team expects to be an especially productive period across mainland Europe and in particular, in Albania and the surrounding region, where our local distribution partner was already building a sales presence, but can now grow those revenues unhindered by the commercial burden of cross border duties and taxes resulting from Brexit. This local manufacturing capability allows us to grow significantly in the near term and offers us a route to maintain our healthy margins without the additional duties burden and variable shipping costs and attendant delays\"\n \nFor further information, please contact:\n \nZenova Group PLC\nThomas Melchior, CEO\nFiona Rodford, Chairperson\nTel: +44 20 3475 6834\n \nSPARK Advisory P...