Astor Energy signed a contract for the purchase of €5 million of machinery from Italian Prima Industrie
Astor Energy Inc., one of the leading companies in the sector in the production of transformers and switching products, has started its investments on the newly allocated land of approximately 250 decares in the ASO 2nd Organized Industrial Zone. Within the scope of its investment plans, the company signed a machinery purchase contract worth €5 million with the Italian machinery manufacturer Prima Industrie S.P.A. for the supply of advanced technology machinery systems.
Astor Energy Inc. announced that it started to invest in advanced technology machinery systems with the contract signed with Prima Industrie S.P.A. on January 10, 2024. With this contract, it is planned that the machine systems with the desired technological qualifications will be put into operation after 11 months, together with the production process. The machinery investment in question will increase the capacity of the sheet metal processing workshop in the production process of “Switching Products”, one of the company’s main product groups, from 750 Tons/Month to 1,500 Tons/Month.
It was emphasized that with the completion of the investment, the first phase of the 100% capacity increase targeted in the switching products department will be completed and that the machines containing advanced technology and automation selected in this process will have a positive impact on production costs.
INVESTMENT AND INFRASTRUCTURE WORKS CONTINUE
The company informed the public about the allocation of the land where the investment will be made with the PDP announcement dated August 28, 2023. The investment in question is planned to be made on this land allocated to the company, located within the ASO 2nd Organized Industrial Zone expansion area. This investment is made in line with the company’s short and medium-term investment strategies.
On the other hand, preliminary preparations, infrastructure and project works continue within the scope of the company’s new investment program.
$491.7 MILLION AGREEMENT
In its second statement to KAP, Astor announced that it signed a transformer sales contract worth €15 million (approximately ₺491 million 743 thousand 500) with a company located in Turkiye.
In the statement, it was stated that the ratio of the contract to the 2022 revenue is 6.65%.
Source: Patronlardunyasi / Prepared by Irem Yildiz