Last week, Axedum agreed terms for a loan of EUR9.0 million (US$10.5 million) to modernize its facilities and align its production standards to those in the European Union (EU).
This was reported by one of the lending institutions, the European Bank of Reconstruction and Development (EBRD). Joining EBRD is the Republic of Moldova’s leading bank, maib, under a risk-sharing agreement.
The loan will be used to finance the construction of a modern feed mill for Axedum, as well as to facilitate its diversification into table egg production.
Export ambitions
Further details on the use of the latest funding are provided by Moldovan bank, maib.
It reports that Axedum will be using the loan to take advantage of Moldova’s status as EU accession candidate. Diversifying its product range and raising safety standards are expected to allow the firm to expand sales on both local and international markets.
Founded in 1997, the family-owned company will be upgrading its facilities, and integrating sustainable technology. It will focus on carbon emissions reduction, waste minimization, and optimal resource use.
“We have ambitious plans and an extraordinary team dedicated to continuing to bring the highest-quality products to the market,” said Axedum founder, Grigore Cojocaru. “Thanks to these investments, our customers both domestically and abroad, where Axedum, products are exported, will enjoy superior-quality products, produced according to the highest standards, using modern technologies and with respect for the environment.”
Based in the capital city, Chisinau, the company has developed a fully integrated poultry business, from the growing of feed grains, through feed milling to the farming of poultry, slaughter, meat processing, and distribution, according to the same source. It sells products through its own stores, as well as other retailers and the hospitality sector.
In 2024, Axedum became the first company in Moldova to produce free-range eggs.
Moldova’s poultry farming sector
National annual production of hen eggs (fresh, shell) amounted to 33,388 metric tons (mt), according to the statistics arm of the United Nations’ Food and Agriculture Organization, FAOstat. The figure is for 2023, the most recent year for which data have been published. Moldova's output of chicken meat (fresh, chilled) in the same period was 46,145mt.
In 2024, the population of Moldova was close to 2.4 million, according to the World Bank.
