PARMALAT MPF FRAMEWORK

Location:

Regional

Project number:

4594

Business sector:

Agribusiness

Notice type:

Private

Environmental category:

A

Approval date:

21 Oct 1997

Status:

Complete

PSD disclosed:

01 Dec 1997

 

Project Description

Multi-project facility to provide equity finance to various Parmalat-sponsored projects in the EBRD's countries of operations.

The multi-project facility will aim to support Parmalat's investments within the dairy and food industry, throughout the EBRD's countries of operations. Parmalat's investments will facilitate the transfer of technical and management know-how and the development of new market opportunities.

Transition Impact

The multi-project facility will promote restructuring, privatisation and modernisation of essential parts of the dairy and other food industries throughout the EBRD's countries of operations. The project will also promote the modernisation of upstream activities, such as primary production for raw materials and packaging and it will have an impact on the downstream activities, such as distribution, etc.

The Client

Parmalat SpA is one of the largest European food companies, with operations in Europe, South and North America, Australia, China and Africa. Its business is concentrated in milk and its derivatives, fruit and vegetables, natural juices and bakery products.

EBRD Finance

EBRD finance consists of a four-year multi-project facility worth US$ 50 million (ECU 44 million), on which Parmalat can draw for Bank equity investments in sub-projects in its investment programme throughout central and eastern Europe and the former Soviet Union.

Project Cost

 

Environmental Impact

Parmalat has agreed to implement the EBRD's "Environmental procedures for multi-project facilities" when conducting due diligence on potential project companies. In doing so, Parmalat will ensure that project companies comply with national and local environment, health and safety regulations and standards, and also with applicable EU environment, health and safety standards.

As part of the Bank's due diligence for this multi-project facility, Parmalat was requested to complete a corporate environmental questionnaire. This covered a number of areas, including Parmalat's approach to water quality issues, waste-water treatment, air emissions, solid waste disposal, occupational health and safety and energy efficiency. In general, the company works to Italian environmental, health and safety standards, although as Italy harmonises its legislation more closely with that of the EU, more rigorous standards are being introduced (for example, in the area of occupational health and safety). In addition, Parmalat follows the basic principles of ISO 9000 to establish a variety of quality systems throughout the company. Parmalat was judged by the Bank to have a fully satisfactory approach to environment, health and safety issues.

Technical Cooperation

None.

Company Contact

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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

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