Programme: Innovations and Competitiveness

The main business activity of ITS IVONA Ltd is: Manufacturing of lifting machines and lifting machine parts and details. The company produces the following industrial products: 
- Automatic electric winches for lifting equipment 
- Hydraulic jacks for lifting equipment 
- Mechanical details and motor plates for lifting machinery 
- Lifting machine parts. 
The project proposal is aimed at the initial investment for production capacity expansion of the current manufacturing base through investment in new technological equipment, and digitalization of the manufacturing process within the company. It shall be made through buying, installing, testing and operating the following fixed asset: 
CNC Hydraulic Folding Press - 1 piece 
The implementation of these fixed asset is not aimed at doing any changes in its nomenclature of products but only at production capacity expansion. 
It will result in the recovery of the economic potential of the company and creating conditions for economic growth and development to the levels before COVID-19 pandemic through digitalization of the manufacturing process. The project will strictly adhere to the principle of ‘do no significant harm’ to the environment. It will be in accordance with the EU horizontal principles for equal opportunities to all and equality of rights   between men and women. It will contribute to the  green transition of the country. 
This equipment will ensure the manufacturing mechanical operations. The production capacity expansion within the company will have the following effect:
- Increase of the manufactoring processes efficiency;
- Increase of the volume of the company’s products; 
- Optimizing the manufacturing chain; 
- Productivity growth; 
- Reducing the product cost ;
- Improving the production quality;
- Increasing the resource efficiency through reduced energy-consumption and technological scrap;
- gaining market advantage.