EBRD grants EUR 25 mln for new aluminum factory in Romania

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 25 million loan to Alu Menziken, a subsidiary of the Swiss industrial group Montana Tech Components, which will expand its production in Romania by building a new EUR 44 million aluminum plant, according to a press release EBRD issued on November 17. The new plant, which will produce aluminum profiles and tubes, will be located in Mediesu Aurit, near Satu Mare, in North-Western Romania. Most of its customers are from the auto sector. Alu Menziken will work with local universities and craft schools to train employees for the new factory. Montana Tech Components AG, the parent company of Alu Menziken, is an older partner of the EBRD. The bank has previously funded Universal Alloy Corporation Europe (UACE) in Maramures, Northern Romania, which produces aluminum components for top airline manufacturers such as Airbus, Boeing, Bombardier and Premium AEROTEC. editor@romania-insider.com