Pehart, the largest tissue producer in SEE and the largest tissue converter in Romania, owned by Abris Capital Partners, will invest EUR 51 million in its existing plants in Petresti and Dej.

The company will cover the investment with a syndicated loan.

Pehart plans to build new facilities for paper production, increase the converting area, invest in new state of the art equipment to expand production capacity, and enlarge its portfolio with new products.

The loan has been arranged by a syndicate of banks coordinated by BCR, part of Erste Bank Group, also including ING Bank Amsterdam - Bucharest Branch, Raiffeisen Bank, and OTP Bank Romania, as mandated lead arrangers.

"Our development plans include an investment of EUR 20 million within three years, through a strong partnership with the banks that facilitated the loan. Our commitment is to guide the paper business to a new standard of ethical, environmentally friendly development," said  Gabriel Stanciu, General Manager of Pehart.

andrei@romania-insider.com

(Photo source: the company)