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ING Bank Romania lends 20 mln euro to local brewer Tuborg

Author Tudor Popescu
ING Bank Romania lends 20 mln euro to local brewer Tuborg Author: Carlsberg. License: All rights reserved.

BUCHAREST (Romania), May 19 (SeeNews) - ING Bank’s Romanian branch said on Thursday it has granted a 20 million euro ($21.1 million) loan to United Romanian Breweries Bereprod (URBB) group, also known as Tuborg Romania, to refinance existing credit facilities and fund new projects.

The funds will mainly be directed towards Tuborg's factory in Pantelimon, where the water purification plant will be expanded, ING Bank Romania said in a press release.

The company also plans to implement other new technologies in order to boost the factory's production efficiency.

"This credit aligns with our strategic priorities of investing into long-term partnerships and of supporting customers which are making genuine efforts to implement sustainable projects in Romania and to reduce their carbon footprint," ING Bank Romania’s Wholesale Banking division.Sustainability Champion Ioana Marcu said.

United Romanian Breweries Bereprod was founded in 1994 and its roster of brands includes Skol and Holsten.

Based on the latest data from the finance ministry, Tuborg's net loss narrowed to 9.64 million lei ($2.05 million/1.94 million euro) in 2020, from 15.94 million lei in 2019. The brewer’s turnover was 441.3 million lei in 2020, down compared to 465.5 million lei in 2019.

(1 euro = 4.9474 Romanian lei)

ING Bank Romania SRL is among the biggest banks in SEE, for more reference take a look at Top 100 banks
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