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.
AXOR Industry in 2022 invested $10 million to expand the production of fittings for windows and doors in Ukraine, the total investment in the enterprise reached $35 million, the company’s press service told the Interfax-Ukraine news agency.
“We continued to invest both in the development of new products and in new equipment and new production workshops. In 2022, two workshops for painting aluminum elements of fittings for windows and doors started working,” said AXOR Industry CEO Yilmaz Osman, whose words are cited in the press release.
He added that $10 million was invested in the expansion of production and a total of $35 million has been invested since 2011.
It is also noted that AXOR Industry is the only enterprise producing fittings for windows and doors in Ukraine. Its production facilities are located in Dnipropetrovsk. The company has not stopped its work since the beginning of the war.
Before the full-scale invasion of the Russian occupation troops into Ukraine AXOR hardware was supplied to 26 countries. Since February 24, deliveries to Russia and Belarus have been stopped. The company lost a significant amount of sales, but in spite of this it has kept jobs for Ukrainians (there are now 365).
“Only by providing jobs and developing international relations can we win the war and further ensure the development of both the production itself and the country. This is why in 2023 we aim to increase the presence of AXOR hardware in the international market and develop new lines of fittings and accessories for windows and doors,” said Osman.
According to the general director, from the first days of the full-scale invasion of Russia, the company began to help its employees who enlisted in the AFU and displaced persons. Also provides for the families of deceased employees.
According to the State Register of Legal Entities and Individual Entrepreneurs, the authorized capital of AXOR Industry is 135.38 million UAH. The founders are Funama Holdings Limited (Cyprus), AMC Altus Assets Activitis and Basera Holding Limited (Malta). Vadim Yermolaev is indicated as the ultimate beneficiary.
