Carmistin's debt is growing but for a reason
Carmistin Group is going to enlarge its investment program by 44%, with a loan approved by 5 national banks. " A syndicated credit facility worth a total of 636 million lei, was approved by increasing the existing facilities by 209 million lei, to support the group's new investment strategy," said the company in a press release.
The financing was coordinated by Banca Comerciala Romana SA (member of the Erste Group), as Principal Arranger, Documentation Agent and Guarantee and Payment Agent, together with CEC Bank, as Principal Arranger, and by other banks. participants, such as OTP Bank, Intesa Sanpaolo Romania and EximBank. The loan has complex uses for financing the new investment projects of the companies from the Carmistin Group, including the co-financing of some projects with state aid or European funds, as well as the provision of working capital. Among the projects that will be financed through the new credit, facility are the modernization of livestock farms and the development of new ones, the modernization, growth and establishment of new meat processing capacities and the increase of the production capacity of the compound feed factory.
For us, this financing supports the direction and vision of the Carmistin Group, respectively that by the end of 2025 we will become the largest integrated protein producer in Romania with a value system based on fair, healthy and ecological food production. Innovative technologies and products have become essential in our development vision, which is why we implement a complex investment program that will lead to efficient and sustainable growth of the production capacities we operate. Without major investments, Romanian companies will not be able to ensure their competitiveness compared to international competition and will not be able to implement sustainable development policies ", says Andrei Brumaru, CEO of the Carmistin Group.
"There are some projects never seen before in Romania. We want to turn into a growing, sustainable company that can play a major role in tomorrow's food chain. We will be a major player in the global protein market over the following years", says Tiberiu Bebece, VP of Carmistin.
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