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Poland's Rolimpex S.A. signs US$ 20 million framework agreement with EBRD
Rolimpex S.A., a Polish agribusiness trading and processing company listed on the Warsaw Stock Exchange, has signed a US$ 20 million financing framework agreement with the European Bank for Reconstruction and Development (EBRD), enabling the company to implement its modernisation and expansion programme.
Jacques de Larosière, President of the EBRD, said: "Rolimpex is a leading agribusiness company in Poland with a strategy of vertical integration into selected agribusiness sectors. The financing framework agreement signed today will enable the EBRD to finance jointly with Rolimpex a number of investment projects in important segments of Poland's agribusiness sector."
The President of Rolimpex, Roman Mlyniec, commented: "With the EBRD's involvement, Rolimpex has acquired an active investment partner interested in the development and restructuring of Poland's agribusiness and food industry." He added: "I am confident that Rolimpex will lead the transformation of agribusiness in Poland."
The company specialises in the sourcing, primary processing, broking and distribution of grain and grain products, rice, hops and malt, sugar and molasses, vegetable oils and fats, feeds and compound feeds, potatoes and seeds. In 1995, Rolimpex reported a turnover of PLN 1.1 billion (US$ 415 million) and a pre-tax profit of PLN 60 million (US$ 22 million).
Formerly one of Poland's Foreign Trade Organisations, importing and exporting agricultural commodities, Rolimpex was partially privatised in 1994. In July 1996, the EBRD acquired 10 per cent of Rolimpex's share capital in connection with the offering of 30 per cent of ordinary common shares of Rolimpex held by the Polish State Treasury.
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