Euronickel owns and operates a nickel ore processing plant in Kavadarci, North Macedonia. The operation produces high quality ferronickel for use in the stainless steel producing industry.

As a responsible producer, we are committed to continuously improving the performance of our operations for the benefit of all stakeholders.

We employ approximately 1000 people, making us one of the largest employers in North Macedonia and, through our supply chain, we are a major contributor to the country’s economy.

The Company is a member of the Economic Chamber of the Republic of North Macedonia and a member of the North Macedonian Metallurgical Association.

The Euronickel plant was acquired in 2019 by Global Special Opportunities Ltd. (GSOL).


Following the restart of operations under the new ownership, Euronickel initiated an investment programme to upgrade the plant and increase production – by putting into operation the newly refurbished electro-furnace.

This investment includes a comprehensive modernisation programme to align working practices with international best practice standards.

Leadership team

Euronickel is led by Gerasim Kujundziev, First Managing Director and Andreas Tsagkaris, Second Managing Director.


Following exploration in the 1950’s and testing of ores in the 1960’s the company (then known as FENI) began to build furnaces and associated infrastructure in the 1970’s. The first nickel in the form of ferronickel produced was in 1982 from locally mined ores and the annual output was around 2,000 tonnes.

The plant has operated under a number of different owners since then with its growth linked to the global nickel and energy prices. In 2017-2018 the plant went through a restructuring process.

During 2018, GSOL invested in the successful restart of nickel ore processing at the plant under a processing contract and presented a restructuring plan for the business.

In January 2019 GSOL successfully acquired the plant, changed the name from FENI industries to Euronickel Industries and is now investing to ensure the plant reaches its full potential.

Today Euronickel is one of the largest companies in North Macedonia employing approximately 1000 people and with a supply chain comprising more than 1000 domestic and international companies.