Translated version of this PSD: Romanian
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.
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.
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.
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
Up to EUR 8 million (or the USD equivalent) senior long term debt financing
Total Project Cost
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.
Company Contact Information
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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