Bank finances a new plant in north-western Romania
Driving job-generating foreign direct investment in Romania, the EBRD is providing a €25 million loan to a subsidiary of the Swiss-based industrial group Montana Tech Components AG, which is expanding production in the country.
The EBRD’s funds will finance the construction of a new resource-efficient plant by Alu Menziken SRL, which manufactures aluminium profiles and tubes, and complex extrusion-press products.
The new €44 million facility in Medieşu Aurit, north-western Romania, will help the company meet ever-growing demand from its clients, predominantly in the automotive sector.
Montana Tech Components AG and its subsidiaries are committed to training local staff, bringing the latest skills and know-how to Romania. Alu Menziken will partner with local universities and vocational schools to offer more employment and training opportunities to local engineers.
Matteo Patrone, EBRD Director, Regional Head of Romania and Bulgaria, said: “This new investment is part of the EBRD’s efforts to drive job-generating foreign direct investment in Romania and enhance the competitiveness of companies shaping local industries and the workforce. The continuous increase in investment by Montana Tech Components AG proves that Romania is successfully building its brand as a favourable investment destination, in particular in the manufacturing sector. The EBRD is proud to be part of these efforts.”
Montana Tech Components AG, Alu Menziken’s parent company, is a longstanding partner of the EBRD. The Bank has previously financed its Maramureş-based subsidiary Universal Alloy Corporation Europe (UACE), which produces aluminium parts for aircraft and supplies components to leading aircraft manufacturers such as Airbus, Boeing, Bombardier and Premium AEROTEC. The EBRD has also extended two loans to boost the group’s operations in Croatia.
The Bank is a leading investor in Romania and to date has invested €7.5 billion in some 400 projects in the country. According to the EBRD’s latest economic forecast, Romania’s economy will grow at 5.3 per cent this year and 4.2 per cent in 2018, enjoying a growth rate comparable to the pre-crisis levels of the mid-2000s.