Loan to Julon d.d. (Yulon) to allow the company to establish a new twisting and heat setting plant for carpet yarn at a new location, and to expand and modernise its existing synthetic textile yarn spinning operation.
The principal objectives of the project are to:
- establish a new twisting and heat setting plant for BCF carpet-nylon yarns at a new location;
- expand the BCF spinning operation;
- expand and revamp the synthetic textile yarn spinning operation.
The project will contribute to the transition process by:
- developing technology and skills as the new spinning line will comprise state-of-the-art technology;
- demonstrating to local industry the use of a new higher-quality production range;
- demonstrating the continuing successful restructuring of an enterprise supported by a strong foreign strategic partner.
Julon d.d. (Yulon) is a joint-stock company incorporated under the laws of Slovenia. It is one of the Bonazzi Group’s main producers of nylon carpet yarns and synthetic textiles.
Senior loan of €15.0 million, including a syndicated B loan of €5.5 million.
The project was screened B/0, requiring an environmental analysis to examine the impact of the EBRD’s investment. The current project is focused exclusively on the provision of new machinery, all of which will be in compliance with EU standards for environment and safety. As part of the previous Yulon projects, an environmental audit of the facility was carried out by independent consultants in July 1995. A further audit was recently undertaken. According to the update of the audit and the Environmental Action Plan (EAP), submitted to the EBRD, there are no outstanding compliance issues associated with Yulon's production activities. The company is in full compliance with Slovenian and EU legal requirements for air emissions, waste disposal and waste-water discharge and with all the Bank’s environmental covenants. The company has also initiated an energy and water conservation programme and was recently awarded the International Environmental Management Standard (ISO 14001).
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