EBRD mulls 40 mln euro loan to Bulgaria's Sofia Med

Some 30 million euro will be used by the company specialized in copper and copper alloy products for work capital financing as part of a larger balance sheet restructuring and the rest will be allocated for financing energy efficiency measures and increasing capacity for higher value products, EBRD said in a statement.

The investment aims to help Sofia Med shift production towards higher value-added products like high performance alloys and industrial rolled products.

Sofia Med, a leading Bulgarian copper, titanium zinc and brass processor, is a wholly-owned subsidiary of Greek metal processing company Halcor. As many as 95% of Sofia Med’s production is exported to Western and Eastern Europe.

($=0.7846 euro)