The European Bank for Reconstruction and Development (EBRD) has granted a EUR 30 million syndicated financing package to Romanian oilseed processing company Expur, owned by French Saipol Group.

The new facility to finance Expur's working capital requirements is in addition to existing EBRD financing, totaling EUR 80 million. Half of the new EUR 30 million loan will be for the EBRD’s account, and the remaining amount will be syndicated to Société Générale and Rabobank.

Expur crushes rapeseed and sunflower seed, produces crude rapeseed oil, refined edible sunflower oil, as well as rapeseed meal, sunflower meal and biodiesel, for both domestic and export markets. The company has a factory in Urziceni, south of Romania. It produces edible oil under the brands Ulcom and Marisol, as well as under private label. Expur posted a turnover of EUR 154 million in 2010, reporting a loss of EUR 1.5 million. The year before, its turnover stood at EUR 86 million, while its loss was of EUR 11.8 million, according to data from Romania's Finance Ministry.

Saipol, which is part of Sofiprotéol’s Oilseed Division, processes rapeseed and sunflower seed into meal for animal feed and vegetable oil for human consumption, as well as for sustainable energy (biodiesel) and the chemicals industry.

Since the beginning of its operations in Romania, the EBRD has committed over EUR 5 billion in various sectors of the country’s economy, mobilising additional investment of almost EUR 8.5 billion from other sources of financing. The new loan brings the EBRD's commitments to the Romanian agribusiness sector up to EUR 470 million via 25 projects.

EBRD's official announcement here.

editor@romania-insider.com

(photo source: Expur)