CARMEUSE EASTERN EUROPE

Location:

Project number:

31148

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Approval date:

23 Mar 2004

Status:

Completed

PSD disclosed:

06 Feb 2004

Project Description

The proposed project will support the growth and expansion of the Carmeuse Group's East European operations. Carmeuse Group (the Sponsor) is one of the two major global producers of lime present in around 100 locations across Western, Central and Eastern Europe, North America and Africa. The Bank will invest up to € 7 million to acquire a 25% stake in the new vehicle, combining existing Carmeuse-owned and managed production facilities in Romania, with the possibility to include the currently identified new investments (Serbia and Montenegro, Romania, Bulgaria and Russian Federation).

Transition Impact

The project will have significant transition impact which will be achieved through the restructuring and modernisation of the lime businesses in the region. The Bank's investment will support the implementation of the best standards of practice and knowledge transfer and will provide a positive demonstration effect by enhancing the corporate governance, marketing, distribution and logistics.
The increased competition in the sector will lead to a greater customer choice and availability of high quality lime products, which should have a positive effect on the downstream consumers (steel, pulp and paper, construction, soil stabilisation, environment protection, etc). The TC financing associated with the project will aim to improve energy efficiency and energy management practices at the client's plants.

The Client

Carmeuse Eastern Europe (CEE), a consolidation vehicle, which will combine the Sponsor's existing assets in Romania and possibly future Sponsor's ventures in the Bank's countries of operation.

EBRD Finance

The Bank will invest up to € 7 million to acquire a 25% stake in CEE. The remainder will be owned by the Sponsor.

Project Cost

Up to € 28 million.

Environmental Impact

The Project was screened B/1 requiring an environmental audit and analysis. The environmental investigations which are being undertaken by independent consultants are currently underway in order to establish the environmental status of the facilities and compliance with current and impending national and EU standards. The investigations will recommend a time-phased and cost-estimated programme, including investments needed to achieve compliance with environmental regulations and good industry practice. Energy efficiency and energy savings represent a major component of this operation and will be addressed as part of the overall environmental action plan (EAP).

Technical Cooperation

Technical Assistance funding (approx € 20,000) is sought in order to finance a limited and focused energy audit of CEE's operations in Romania.

Company Contact

Carmeuse Group, Bvd de Lauzelle,
65B-1348 Louvain-La Neuve, Belgium
Attn: Mr Bernard Ortegat, CEO Carmeuse Eastern Europe
Phone: +32 10 48 16 00
Fax: +32 10 48 16 66
Email: bernard.ortegat@carmeuse.be
www.carmeuse.com
 

Business opportunities

For business opportunities or procurement, contact the client company.

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