Aluflex Packaging



Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

23 Jul 2013



PSD disclosed:

21 Jun 2013

Translated version of this PSD: Croatian

Project Description

The EBRD is considering providing a long term loan of €20 million to the Aluflexpack group of companies (Aluflexpack Novi d.o.o, Omial Novi d.o.o, and TOF d.d. or “the Company”), recently acquired by Montana Tech Components AG.

The loan proceeds will be used to finance the company’s capital expenditure plan targeting capacity increase, quality improvements and development of the new products while increasing efficiency of operations and allowing better capacity utilisation.

Transition Impact

The transition impact of the proposed project derives from:

(i) demonstration of the successful restructuring of the acquired companies by a foreign strategic investor, by significantly improving their operational efficiency and enabling the production of new products; and

(ii) setting standards of business conduct by implementing the planned operational restructuring in line with best practices.

The Client

Aluflexpack, a Croatian company, manufacturer of flexible packaging producing containers, lids and other aluminium-based products for food, pet food, the pharmaceutical, confectionary and dairy industry.

Since December 2012, it is fully owned by Montana Tech Components AG, a Swiss-Austrian diversified industrial group specialised among others in aluminium products.

EBRD Finance

€20 million senior secured loan.

Project Cost

€64.7 million.

Environmental Impact

Category B. Environmental and social (E&S) issues associated with aluminum packaging production are site-specific, can be readily identified and mitigated through the implementation of an E&S Action Plan (ESAP). The E&S Due Diligence (ESDD) of the Project consisted of the review of corporate E&S policies and management systems of the Sponsor (Montana) and of the Borrower (Aluflexpack) to assess whether they are adequate to ensure compliance with the Bank’s Performance Requirements (PRs). The ESDD was undertaken through a detailed review of the Company’s answers to the ESDD questionnaires, relevant E&S documents and internal policies, as well as site visits by Bank’s environmental specialist to the Sponsor’s plant Alu Menziken, Switzerland and Company’s production sites near Zadar, Croatia.

All AFP production sites are accredited against ISO 9001 quality standards, 2 sites have ISO 14001 certified environmental management system in place and the Company is planning to roll it down to the rest of the sites as well as implementing OHSAS 18001 occupational health and safety standards. The Company will also be implementing a Hazard Analysis and Critical Control Points (HACCP) certifiable food safety system.

The environmental impacts of current operations at AFP plants are mainly associated with air emissions from forming, printing and lacquering processes (metal dust, VOC, NOx, and combustion emissions, etc.), use of hazardous materials for metal treatment, waste water and solid waste management. AFP meets national requirements for emissions values, however, to assess compliance with applicable EU Industrial Emissions Directive (IED) the pollutants concentrations are to be measured and benchmarked against Best Available Techniques (BAT) for Surface Treatment Using Organic Solvents and for Non-Ferrous Metals Processing. The ESAP will require the Company to carry out the BAT Assessment by 2015 to identify further measures the Company will need to implement to comply with the EU IED requirements. To improve abatement systems, the ESAP also includes construction of a thermal oxidation plant at Zadar site.

Occupational health and safety risks related to workers exposure to equipment, chemicals and noise can be minimised through appropriate risk evaluation for each position, provision of PPE and training of the staff, which are included in the ESAP.

The Company will provide the Bank with regular Annual Environmental and Social Reports (AESR) and notify on any material accidents or incidents. The Bank will evaluate the Project’s environmental and social performance in accordance with the Bank’s PR’s through reviewing the Client reporting and periodic monitoring visits.

Technical Cooperation


Company Contact

Mr Johannes Steurer, CFO



Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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Text of the PIP

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