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south-east european

INDUSTRIAL MARKET 11

SEE BUSINESS

largest and Turkey’s only acrylic fiber producer with a capacity of 315

000 tons per year. Aksa’s fibres and filaments are woven into synthetic

fibre cloth, blankets, carpets and knitted wear and are sold domestically

and abroad.

The loan will finance the development of new products and will en-

hance energy and resource efficiency at Aksa’s production plant in Yalo-

va, in north-western Turkey. The financing will support an ambitious in-

vestment programme to boost the company’s overall competitiveness at

home and abroad.

The new financing comes under the A/B loan structure and includes

USD 50 million on the Bank’s own account (provided in US dollars and

Euros) and EUR 30 million and USD 10 million syndicated to ING and

the Bank of Bahrain and Kuwait, respectively.

The EBRD is a major investor in Turkey. Since 2009 it has invested

EUR 10 billion in various sectors of the Turkish economy, with almost all

investment in the private sector. In 2017 alone, the bank invested EUR

1,6 billion in 51 projects, signifying EBRD’s commitment to mobilizing

foreign financing to the Turkish economy. It also marks the first transac-

tion with the bank of Bahrain and Kuwait, or BBK, and a strengthening of

cooperation with ING Group, one of the EBRD’s largest co-financiers.

Enhancing the competitiveness of Turkey’s major industrial players

such as Aksa, especially through greater resource efficiency, is among

the EBRD’s priorities in the country.

New financing for Bulgaria’s Biomashinostroene

The EBRD will finance Bulgarian Biomashinostroene with EUR 4,5 mil-

lion loan. The company will invest the funds to expand its operations.

Biomashinostroene is a leading Bulgarian manufacturer specialized in

design and production of technological equipment for the food-process-

ing, pharmaceutical and chemical industries. The main products in Bio-

mashinostroene’s range are tanks, apparatuses, and tube-in-tube heat-

exchangers made of stainless steel. Biomashinostroene exports more

than 90 percent of its products to over 20 countries in the European

Union and the Middle East. It supplies the world’s largest engineering

companies such as Tetra Pak and GEA and top multinational food com-

panies such as Nestle and Ferrero.

Biomashinostroene is boosting its manufacturing and storage capac-

ity with the loan. The company is investing in three new assembly

workshops and warehouses in order to meet the growing demand for

its machinery. The loan will help optimize the manufacturing process

and enable simultaneous work on several orders of large, complex

equipment. With new company’s investment programme, production

and sales are expected to increase by 50 per cent over the next six

years.

“We have seen Biomashinostroene develop from a state-owned enter-

prise, specializing in manufacturing of biotechnology equipment, to a

modern privately owned company offering cutting-edge technology to

global players in the food and pharmaceutical industries. Our previous

loan to the company has delivered excellent results and it is with great

pleasure that we provide new financing to further boost this exemplary

exporter”, according to EBRD’s President Suma Chakrabarti.

President Chakrabarti also welcomed Biomashinostroene to the

EBRD’s Blue Ribbon programme. The programme combines busi-

ness advice and finance for companies that stand out for their mar-

ket leadership and high-growth potential. It currently includes 24 com-

panies in 15 countries where the Bank invests. Biomashinostroene is

the first Bulgarian company to join the programme, thanks to the

firm’s solid business strategy, strong management and high quality

of output.

The EBRD is a leading institutional investor in Bulgaria. It focuses on

enhancing the competitiveness of the private sector, strengthening the

financial sector and narrowing the infrastructure gap. To date the Bank

has invested EUR 3,7 billion in 248 investment projects in the country.

Source: Biomashinostroene