The proposed project consists of a long-term loan of EUR 10 million to Štark a.d., a leading Serbian confectionary company. The company is a member of Droga Kolinska group.
The proceeds of the loan will be used for financing of long-term restructuring and modernisation of Štark which will include
(i) upgrade and acquisition of production facilities
(ii) new packaging equipment and
(iii) strengthening of marketing and brand development activities.
Successful corporate restructuring is the main objective of this project and since involving a well-known and recognised confectionary producer, the success of the project will have a strong demonstration effect in the country. Through increased profitability and improved product portfolio the company will gain additional strength to expand on the market and set new boundaries for its competitors. The project is also expected to serve as an example for other companies in the region considering expansion in the neighbouring markets.
Štark a.d. is a joint stock company incorporated in Serbia. The Company’s main product groups are
(i) salty snacks
(ii) biscuits/flour based products and
(iii) chocolate products.
EUR 10 million long-term loan.
EUR 26.5 million.
The proposed project is categorised as B/1.
As result an environmental audit is currently underway and will be reflected in an environmental action plan to be agreed between the Company and the Bank. As with all Bank investments, Stark will be required to comply with national and applicable EU standards for environment, health and safety and with national labour laws.
Mitar Jovic, director , Štark A.D Belgrade
Tel: +381 11 3978-202
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