"ARTISTICO" EOOD was established in 1999 and for over 20 years has been a leading player in the production and installation of wooden flooring. Since 2002, the company has had its own production facility in the village of Trud, with an area of 3000 m2. Subsequently, the company's production activities have expanded, and we now have two production sites, located respectively in the village of Trud, Maritsa municipality and in the town of Shivachevo. Production facilities are mainly old buildings, which require significant investments in order for them to meet modern requirements for improving energy efficiency and establishing sustainable development of the company by organizing a completely environmentally friendly production process. In its long history, the company "ARTISTICO" EOOD has overcome many problems of various nature, various types of economic and social crises. In 2020, we faced the COVID-19 pandemic, and the imposition of measures to limit its spread inevitably led to a decrease in orders and, to some extent, a decline in our revenues. While we were still trying to overcome the negative consequences of the pandemic, in 2021, the significant increase in electricity and natural gas prices began, and in 2022, the war in Ukraine broke out. All these factors led to a significant increase in the supply prices of raw materials and materials used in production, which, together with the higher prices of electricity for industrial purposes, almost doubled the prices of our final product. In this regard, and in order to somewhat cope with the aforementioned limitations to the development of "ARTISTICO" EOOD, we are applying within the framework of this proposal for the purchase of a biomass boiler, which will be located within our production base in the village of Trud. In this way, on the one hand, we will reduce our energy costs, and on the other hand, we will protect ourselves from the constant changes in electricity prices and be independent of them.
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