Increase of competitiveness and production capacity of Feroplast Ltd. KK.03.2.1.15.0071

The project applicant is the company Feroplast, and the goal of the project is to increase the competitiveness of Feroplast in the domestic and international markets by investing in strengthening technological capabilities. The purpose is to increase productivity and production volume by at least 30%, which will lead to a 40% increase in revenue and exports. The project will involve the procurement and installation of state-of-the-art equipment, and the production facility will be modernized and adapted for the integration of new equipment. The existing 27 employees will be retained, and 16 new employees will be hired. The target group includes the existing 27 employees, the 16 newly hired employees, current and future customers, and collaborators, while the ultimate beneficiaries will be the employees' families, the local community as a whole, and the economy of the Republic of Croatia. The implementation of the project will have a positive impact on job preservation and will directly affect unemployed individuals in the Istria County and surrounding areas. The procurement of new equipment will directly meet the needs of current customers, the ordered products will be of high quality due to the state-of-the-art machinery, and they will be delivered quickly due to expanded production capacity. This will also meet the needs of future customers, as their requirements will be met in terms of quality, delivery time, and all other factors. The implementation of the project will also positively impact Feroplast's suppliers, as the increase in sales revenue and export revenue will create a need for further investment and business expansion.