The EBRD is providing a €5 million loan to Atlantic Grupa’s Serbian operations for energy efficiency and resource efficiency improvements. Croatia’s Atlantic Grupa d.d. is one of the biggest regional food producers in south-eastern Europe. The EBRD financing is part of a wider package arranged in November 2012.
The loan follows an energy and resource efficiency audit of Atlantic Grupa’s operations in Serbia and will enable the company to introduce targeted measures at its subsidiaries such as the installation of a new boiler. On top of efficiency savings the measures are expected to reduce CO2 emissions by 600 tonnes per year.
Atlantic Grupa is a leading producer and distributor of food, beverages and pharmaceuticals. Headquartered in Zagreb, the company has production sites in Bosnia and Herzegovina, Croatia, FYR Macedonia, Germany, Serbia and Slovenia. Atlantic Grupa’s products are sold throughout south-eastern Europe as well as in western Europe, Russia and the Commonwealth of Independent States.
Atlantic Grupa is a long-standing client of the EBRD. The Bank’s support is focused on boosting the company’s cross-border and regional activities and on supporting energy efficiency as a means of reducing costs and dependency on energy supplies.
EBRD First Vice President Phil Bennett said: “We are pleased to continue our cooperation with Atlantic Grupa. The impact of the measures this loan will finance is expected to be significant. Additionally, it strengthens the cross-border character of Atlantic Grupa’s operations.”
Emil Tedeschi, CEO of Atlantic Grupa, added: “This loan, as a further extension of our successful cooperation with the EBRD, proves Atlantic Grupa to be a reliable and responsible partner. It shows our sustained commitment to improve the operations of our companies across the region in a way that will help enhance the quality of life in local communities, while ensuring long-term cost savings for our business operations.”
To date, the EBRD has signed more than 150 projects in Croatia for a total amount of €2.85 billion, while the Bank has invested €3.5 billion in 175 projects in Serbia. The EBRD’s investments cover industry, commerce, agribusiness, energy as well as the financial and infrastructure sectors.