Zenova Group PLC (AIM: ZED), a leading innovator in fire suppression and temperature management solutions, is pleased to announce the formation of a joint venture with its local sub-distributor, AED Sh.p.K, to establish a new manufacturing facility in Albania. This strategic initiative is designed to support accelerating demand for Zenova's product suite in Albania and surrounding markets, following strong initial sales delivered by AED.
Zenova expects that this manufacturing facility will be fully operational by the middle of May servicing demand AED have developed in the region, and thus the joint venture is projected to generate revenues exceeding €2 million in the first 12 months. This early demand is expected to be supported by a strong and expanding pipeline of opportunities across key sectors including construction, infrastructure, and government.
AED has made a significant financial commitment to the project and is actively driving business development efforts to support long-term growth.
The facility, located just outside Tirana, has been secured and upgraded by AED to include a purpose-built, two-storey laboratory and office space. Production equipment tailored for Zenova's exclusive range of fire-resistant and temperature management products has arrived from the UK and is currently being offloaded. Installation and commissioning of the equipment will be overseen by a Zenova-appointed consultant, who will also lead the training of local staff to ensure operational excellence from the outset.
The facility is expected to be fully operational by mid-May and will enable Zenova to efficiently supply the Albanian and surrounding markets, eliminating the delays and costs associated with cross-border trade.
Thomas Melchior, CEO of Zenova Group PLC, commented:
"This joint venture marks a major step forward in Zenova's European expansion strategy. AED has already demonstrated the marke'st appetite for our solutions, and with this new facility, we can respond to that demand faster and more efficiently. We greatly value AED's investment and commitment to date, and their proactive business development across high-potential sectors. Together, we are well positioned to unlock the full commercial potential of the region."
