Investment

INVESTMENT
Development of UAB FLATYZ Product Design

The joint-stock company UAB FLATYZ produces proprietary products – flat candles. The main founders of the company have more than 15 years of experience in this field. The technology and equipment used in the production and decorating process are unique and have no analogues in the world. The products are exceptional, unique and patented as an invention, as candles are decorated with a candlestick by hand. The product manufactured in Europe is successfully sold in gift shops, as it is an amazing and exceptional home decoration detail, a personal or business gift. It is important to emphasise that the company uses the highest quality raw materials in the production of these candles, so soon customers evaluated high-quality products that are now being delivered to as many as 3000 stores in such markets as the USA, Canada, Germany, Austria, France, the United Kingdom, South Korea, Japan, etc.

The company has introduced innovative product technology for self-extinguishing candles, which further stimulated the interest in the production in foreign markets. The company has also developed and manufactured special commercial stands for this product, with the help of which the goods are transported safely and are displayed in an informative way in stores.

Besides, the company is flexible, therefore it is able to meet a wide range of customer requests, ensure timely and high-quality production. The available equipment and wide technological possibilities as well as a team of qualified specialists are able to quickly execute even thousands of orders.

With this in mind, during the 18-month period of the project, it is planned to create new candle decoration designs for the aforementioned and neighbouring markets. Part of the moulds will be designed with the embossed surface. These designs will contribute to solving problems of disability and aging. People with sight disabilities will be able to feel its shape. A large part of the designs will be created with a focus on the taste of elderly people, so the products will be a perfect gift for them on various occasions.

The total cost of the project is EUR 29 963, of which EUR 17 977 will be granted from the European Regional Development Fund, and the rest will be contributed by the company from its own resources.

Start of the project implementation period: 01-09-2020

End of the project period: 30-03-2022

Implementation of the project “Digitization of JSC Flatyz production“

JSC Flatyz is implementing the project “Digitization of JSC Flatyz production”, during which modern digital technologies will be implemented in the company’s activities. During the implementation of the project, it is planned to purchase digital production equipment, which will allow expanding production volumes and raising work productivity. The result of the project is an increase in productivity, an increase in the production of the existing product – flat candles and the production of new products, e.g. candles-flowers in glass, the start of production.

The project is funded by the European Regional Development Fund.

Project title – “Digitization of JSC Flatyz production“

Project beneficiary – JSC „Flatyz“

Project aim – to digitize the company’s production processes by creating favorable conditions for the increase of labor productivity.

Project eligible costs – 566,433.00 Eur

Financing from European Regional Development Fund – 255,144.85 Eur

The beginning of the project – 14/05/2020

The end of the project – 01/09/2023

Read more Show less