Project description
and objectives:
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The proposed project consists of a long-term loan of EUR 10 million to Štark
a.d., a leading Serbian confectionary company. The company is a member of
Droga Kolinska group.
The proceeds of the loan will be used for financing of long-term restructuring
and modernisation of Štark which will include
(i) upgrade and acquisition of production facilities
(ii) new packaging equipment and
(iii) strengthening of marketing and brand development activities.
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Transition impact:
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Successful corporate restructuring is the main objective of this project and
since involving a well-known and recognised confectionary producer, the
success of the project will have a strong demonstration effect in the country.
Through increased profitability and improved product portfolio the company
will gain additional strength to expand on the market and set new boundaries
for its competitors. The project is also expected to serve as an example for
other companies in the region considering expansion in the neighbouring
markets.
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The client:
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Štark a.d. is a joint stock company incorporated in Serbia. The Company’s main
product groups are
(i) salty snacks
(ii) biscuits/flour based products and
(iii) chocolate products.
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EBRD finance:
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EUR 10 million long-term loan.
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Total project cost:
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EUR 26.5 million.
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Environmental impact:
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The proposed project is categorised as B/1.
As result an environmental audit is currently underway and will be reflected
in an environmental action plan to be agreed between the Company and the Bank.
As with all Bank investments, Stark will be required to comply with national
and applicable EU standards for environment, health and safety and with
national labour laws.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mitar Jovic, director , Štark A.D Belgrade
Tel: +381 11 3978-202
Email: Mitar.Jovic@stark.co.yu
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EBRD contact:
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Vedrana Jelusic, Operation Leader: jelusicv@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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