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Slovenian cotton and polyester company to again finance expansion via EBRD
Aquasava d.o.o., a textile company based in Kranj, Slovenia, will benefit from a DM 10 million (ECU 5.1 million) loan and equity investment signed today with the European Bank for Reconstruction and Development (EBRD), as part of the company's restructuring and modernisation.
The investment is the second by the EBRD in Aquasava and the fourth in partnership with Aquasava's parent company, the Bonazzi Group, a private Italian, family-owned textile Company, with long-term interests in the Slovenian textile industry.
Olivier Descamps, Team Director for Slovenia at EBRD, said "Our second project with Aquasava will allow the company to invest in new equipment to increase competitiveness in cotton spinning. In addition, they will raise the production capacity for cotton, polyester and printed products, while targeting the high added-value market segment."
Since 1991, the EBRD has concluded 20 projects in Slovenia worth ECU 346 million including today's investments in Aquasava and Merkur, a Slovenian hardware company.
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