Artur Gevorkyan, a Slovak entrepreneur of Armenian descent, is expanding his company into international markets for the first time by acquiring a metallurgical factory in Italy. This factory, which achieves annual revenues of 10 million euros, has potential for growth by 50 to 70 percent, allowing Gevorkyan to tap into new Italian clientele, including notable companies like Lombardini and Ducati. This strategic move signifies a shift in his expansion approach, focusing on enhancing operations within the acquired company's local setting rather than relocating production back to Slovakia.

In previous years, Gevorkyan successfully acquired metalworking businesses in Sweden and Poland, but those operations were integrated into his Slovak facilities. This acquisition represents a pivotal moment in his business strategy, as he aims to grow the Italian enterprise without relocating, highlighting a commitment to local development and potentially creating new job opportunities in Italy. With additional investments raised from the Prague stock exchange, Gevorkyan's plans for this Italian factory indicate a robust confidence in the European market.

As Gevorkyan's expansion progresses, its impact on local and international markets will be critical to monitor. The acquisition could enhance competitive advantages for his businesses while fostering new partnerships in Italy. Consequently, this move might encourage other Slovak enterprises to consider international expansion, setting a precedent in the Slovak business landscape where local entrepreneurs can thrive globally while supporting local industries.