Sonaca Aerospace Romania

Location:

Romania

Project number:

47447

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Target board date:

11 Nov 2015

Status:

Signed

PSD disclosed:

09 Oct 2015

Translated version of this PSD: Romanian

Project Description

The EBRD is providing EUR 8 million (or the USD equivalent) senior loan to Sonaca SA to finance the greenfield development of the production site in Romania.

Project Objectives

The new greenfield production plant in Romania will increase Sonaca's capacity to supply large aircraft manufacturers with wing components. The new production site will incorporate state of the art equipment for the production of long composite parts. The project will be implemented over two years.

Transition Impact

The main transition impact of this operation is expected to come from skills transfer. The project  will contribute to the introduction of new technology that will require transfer of skills in order to ensure proper adoption of standards and processes. The Company will train the staff to use the latest technology to produce high quality composite materials. This will contribute to sustainable development of the aerospace industry in Romania.

Client Information

SONACA S.A

Sonaca S.A. is the parent company of Sonaca Group and incorporated in Belgium. Sonaca Group is a Tier 1 supplier of aerostructures for large aircraft manufacturers. Sonaca has production sites in Belgium, Brasil, Canada, China and Romania to better supply its customers with worldwide operations.

EBRD Finance Summary

EUR 8,000,000.00

Up to EUR 8 million (or the USD equivalent) senior long term debt financing

Total Project Cost

EUR 15,700,000.00

Total investment is EUR 15.7 million and includes land, building, equipment and development cost of the new products.

Environmental and Social Summary

Categorised B (ESP 2014): Environmental and Social Due Diligence (ESDD) confirmed that Sonaca Group has the capacity and capability to implement the PRs at the project site as demonstrated by the current operational performance of the Group¿s facility in Belgium. Sonaca committs to construct and operate the new-build facility in Romania in accordance with the PRs and to the same standards as those adopted in Belgium. The loan documentation will include standard covenants to ensure that the project is delivered in line with these requirements and, therefore, an Environmental and Social Action Plan is not required.

Technical Cooperation

None.

Company Contact Information

Christine LEJOUR
christine.lejour@sonaca.com
003271255111
003271255111
www.sonaca.com
Page

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