AXOR Industry has invested a total of EUR 40 million in the launch, expansion and development of its window and door hardware plant in Dnipro since 2011, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko has announced.
“In 2011, AXOR built a plant in Dnipro, with initial investments of EUR 25 million. When a full-scale war broke out, the company not only maintained production but also continued to develop. In 2022-2023, it invested in new production facilities. Currently, the total investment amount is EUR40 million,” she wrote on her Facebook page on Monday.
According to the report, the plant in Dnipro has a capacity of 8 million sets of fittings per year. Svyrydenko emphasized that this is one of the largest plants of its kind in Eastern Europe. AXOR exports its products to 27 countries.
“I am sincerely grateful to AXOR Industry, which proves that war is not an embargo on investment. The private sector of other countries, despite the challenges, is ready to invest in our country right now,” she said.
According to Opendatabot, the founders of AXOR Industry LLC are Funama Holdings Limited (Cyprus), AMC Altus Assets Assets in the interests of Altus Industrial Mutual Fund (Dnipro) and Basera Holding Limited (Malta). The ultimate beneficiaries are Mustafa, Hassan and Oan Irem Basher, as well as Sofia Kononenko.
In addition, in 2024, Vadym Iermolaiev, the owner of Alef Corporation, who was included in the Ukrainian sanctions list for 10 years in 2023, was removed from the list of beneficiaries.
In 2024, AXOR Industry increased its revenue by 5.6% to UAH 627.8 million and its net profit by 18.4% to UAH 19.5 million.
