Ascensores AguirreZabal S.L.

Spain’s Ascensores AguirreZabal S.L. is planning to launch elevator assembly production in Kabardino-Balkaria next year, the company said in a press release. The company has already selected a site for the future plant and is currently coordinating the principles for working with contractors and ordering equipment. The first stage of the project is to be completed next year, while another two stages are to be finished in late 2017.

According to the press service of Ascensores AguirreZabal S.L., investment in assembly production in Kabardino-Balkaria will amount to EUR 50 million. Ascensores AguirreZabal S.L. CEO Juan Carlos Aguirrezabal said the company found the Russian market to be promising and entered it in the first half of 2014. Over the first four months, contracts were concluded for more than EUR 5 million, which exceeded the company’s initial expectations by five-fold. As a result of searching for new ideas, Ascensores AguirreZabal S.L. settled on the option of setting up its own production facility in Kabardino-Balkaria. The region offered a number of positive factors, including the commitments of the local authorities, Aguirrezabal said. 

23 July 2015
54.8 mln
Kabardino-Balkar Republic

Investor profile

Ascensores AguirreZabal S.L.


Company's website:

T: 943 612 821

Private company


Contact: Juan Carlos Aguirrezabal, CEO

Ascensores AguirreZabal S.L. is a Spanish company with a more than 50-year history that specializes in the manufacturing and maintenance of elevator systems