Business News

Bosio Gets EUR 12.5M Industrial Furnaces Deal in Russia

Štore, 21 September (STA) - Štore-based industrial furnace and washing machine manufacturer Bosio has signed a EUR 12.5m deal with the Krasny Oktyabr steelworks from Volgograd on the supply of industrial furnaces and steel bars, the Slovenian company has announced, saying this is the biggest deal in its 23-year-old history.

Company director Hugo Bosio has explained that the deal was signed earlier this month and that two more projects, expected to be wrapped up by the end of the year, are in the pipeline.

The Krasny Oktyabr steelworks is among the bigger in Russia and produces steel for the car and aviation industry. A part of their products can be compared with those of Slovenia's Metal Ravne and Acroni Jesenice.

While Bosio hopes to become the Russian company's main supplier of furnaces, the first deal is estimated to be worth as much as Bosio's usual yearly turnover and has filled its production capacities for the entire running year as well as for 2014.

Bosio, which employs more than 60 workers, has production halls in Štore and Celje, while it also has subsidiaries in Croatia, Bosnia-Herzegovina, Serbia and Russia. It has introduced a double shift and is employing new workers as a result of the Russian deal.

The Slovenian company was competing for the Krasny Oktyabr contract with Italy's metallurgical giant Danieli, which is planning EUR 3.1bn in turnover for 2013.

"Krasny Oktyabr ended up deciding for our company, since we have excellent references on the Russian market, which is proof of years of good work on our part and of appropriate prices," Bosio said.

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