Tbilisi (GBC) - With the support of Basisbank, Panex has become the first producer of polyurethane sandwich panels in Georgia, marking a significant milestone in the country's industrial development. Founded in 2015, Panex quickly established itself in the Georgian market and underwent a management change in 2022, leading to the renewal of its production line and a new phase of success.

Panex specializes in manufacturing wall and roof sandwich panels, accessories, and refrigerator doors. Polyurethane sandwich panels are a cutting-edge construction material suitable for various commercial and public buildings. They are known for their exceptional thermal insulation properties, ease of installation, and long-term durability.

The partnership between Basisbank and Panex has been instrumental in Panex's success. Basisbank's support enabled Panex to acquire the latest Italian equipment, enhancing the quality of its sandwich panels and ensuring compliance with European standards.

"We have seen significant growth in the number of infrastructure projects in the region over the past year. With a 70% increase in our sandwich panel production, we are confident in our ability to achieve our ambitious goals. Basisbank has been a constant supporter of our development and progress, and we look forward to continuing our successful partnership to further expand our business. Our aim is to establish a strong presence in the local market with high-quality products, ensure consistent supply to meet local demand, reduce reliance on imports, and ultimately increase our export capabilities." - Giorgi Levidze, CEO of Panex.

"Basisbank stands as a committed supporter of businesses, consistently championing local production and bolstering Georgian business and economic development. With Basisbank's financial backing and our fruitful partnership with Panex, we are confident that the business will seize even greater opportunities for expansion. Together with Panex, we take pride in our role as co-architects of yet another successful Georgian business." – Gigi Gabunia, Commercial Director of Basisbank.

Video story of partnership between Basisbank and Panex: