Modernisation of equipment and technology, and renovation of facilities at AS Norma, a car safety belt manufacturer.
The principal objective of the project is to increase the competitive position of AS Norma by:
upgrading equipment and renovating the company's facilities in order to increase the company's efficiency, to obtain QS 9000 certificate and to comply with Opel safety belt specifications;
reducing overhead costs as a result of more effective real estate management; and
making environmental improvements.
The project will contribute to the transition process by:
strengthening a major Estonian corporate industrial entity and its long-term competitiveness;
facilitating technology transfer in line with leading Western car manufacturer requirements; and
improving environmental standards of the company.
AS Norma is a publicly traded joint-stock company incorporated under the laws of Estonia.
Corporate loan of DM 13.0 million (ECU 6.5 million).
DM 15.0 million (ECU 7.5 million).
The project was screened B/1, requiring an Environmental Audit of the existing facilities and an Environmental Analysis of the proposed modernisation programme. The studies have been carried out by independent consultants in accordance with EBRD requirements. The company was found to have a positive and proactive approach to environmental issues.
The project is in compliance with all relevant Estonian and EU legal requirements, including air emissions, waste disposal and waste water discharged. There is no record of any fines, penalties or enforcement action against the company.
An Environmental Action Plan (EAP) has been developed by the company on the basis of the findings and recommendations of an environmental audit. The EAP sets out details of future action to improve environmental health and safety management systems, all of which are in accordance with the International Standard ISO 14001. Planned investments include over DM 1.1 million for a new water purification plant, storage for acids, reconstruction of the ventilation system and a pumping station for acids.
As a condition of the Bank's involvement in this financing, the company will be required to provide an annual update of health and safety issues, including regulatory compliance, particularly relating to noise; environmental audit at three-year intervals for the duration of the Bank's loan; and notification of any emergencies, significant incidents and accidents.
For business opportunities or procurement, contact the client company.
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP