EDB provides a EUR 25 million facility to the Alutech Group of Companies
Minsk, 28 August 2014. Eurasian Development Bank (EDB) and the Alutech Group of Companies signed today a EUR 25 million loan facility agreement for three years. The facility will be available for the Group’s manufacturing enterprises Alumin Techno, Alutech Inc. and Alutech Door Systems.
In accordance with the agreement, the loan will be used to develop the Group’s business and ensure the supplies and exports of Belarusian metal products to Russia.
“The Alutech Group of Companies has stable financial indicators, which are improving continuously. Given its good standing, Alutech can obtain loans on very good terms, which is proven by the agreements signed today. The loan will make it possible to boost production and ensure additional revenues for the Group’s enterprises,” says Gennady Zhuzhlev. “The project will promote the enhancement of mutual trade between Belarus and Russia, where the Group supplies approximately 65% of its products. The loan will make it possible for Alutech to increase its sales by at least 60% over the next five years.”
Additional Information
The Alutech Group of Companies is an international industrial and sales holding producing extruded aluminium profile systems, sectional doors, aluminium sections, and components for roller shutters. The holding comprises 27 companies: seven manufacturers (four in Belarus, one in Russia, one in Germany, and one in Ukraine), and 20 sales companies and local warehouses in Russia, Belarus, Ukraine, the Czech Republic, and Austria. Alutech is the leading producer of aluminium profile systems in Eastern and Western Europe and the leader in the CIS market in roller shutters.
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://eabr.org/analytics/