The company Ardenz is a Ukrainian manufacturer of steam boilers, metal tanks, reservoirs and containers. More than a hundred years old, the company has experienced many ups and downs in its long history. Around 10 years ago, it was even questionable if it could continue its production or if it would finally have to shut its doors forever.

With dedication and courage, the new owners managed to turn around the company and make it into the success story that it is today. From near closure to 65 employees, significant capacity expansion and a firm eye on ambitious export targets for the next years, the company has firmly reclaimed its place in its market segment and is expected to become an international player to be reckoned with. Part of the recent expansion included the purchase of a modern laser cutting machine, financed through an EU4Business-EBRD Credit Line loan of €270,126 that was disbursed by ‘OTP Leasing’ LLC. Despite COVID-19 restrictions, the project was successfully verified in January 2021. The loan, combined with a 10 per cent investment incentive, helped Ardenz cut energy consumption by 35 per cent, while also saving 146 tonnes/year in material and reducing greenhouse emissions by 17 kg CO₂/year.

Similar to most of the other countries, the infection rates in Ukraine were somewhat higher in the winter than in the summer season. Even though some staff of Ardenz did get infected, despite personal protection measures implemented, the winter tends to be low season for the production of boilers, and the effect on the business was minimal. Furthermore, the company had organised its production processes to the extent where staff became interchangeable early on in the pandemic, further minimising any effects on production in case of quarantined staff or COVID-related sick leave.

With continuous improvement in production and business development, but also with the ongoing adaptations to operate successfully under the conditions imposed by the pandemic, the future of the company looks promising, and the management will explore the possibility of reapplying for another EU4Business-EBRD Credit Line loan.