|
EBRD signs project in Romania
The European Bank for Reconstruction and Development has signed a loan agreement for two loans totalling US$ 11 million (ECU 9.24 million) to two Romanian joint-venture companies, Coca-Cola Bottlers Bihor S.A. and Coca-Cola Bottlers Iasi S.R.L. The companies were established by Molino Holding S.A., a Leventis Group company, and local Romanian partners.
The proceeds will be used to finance the building and equipping of two soft-drink bottling plants, develop a marketing and distribution network and provide initial working capital.
Ron Freeman, First Vice President, said "This is the first private non-financial sector transaction the EBRD is financing in Romania. Development of the private sector in Romania is of great importance. From this project more modern retail distribution channels will be developed, marketing techniques will be introduced, suppliers will be motivated to modernise their facilities while local production will replace expensive imports".
The Leventis Group of companies is a major bottler with further operations in Greece, West Africa, Ireland and Bulgaria as well as Romania.
|
