September 17 (SeeNews) - Moldovan pastry maker Panilino has grown productivity by 15% and signed new international distribution deals following an investment from the European Bank for Reconstruction and Development (EBRD), the bank said on Friday.
The company now produces over 50 tonnes of confectionery per month, the EBRD said in a press release.
Panilino has also boosted exports and signed new contracts with distributors from Austria, France, Germany, Ireland, Italy and Latvia.
"’We increased our product range, improved product quality and significantly optimised our costs. And we do not plan to stop there. Eventually we want to have an even more solid footing in international markets and make Panilino a globally recognised brand," Panilino director Sergiu Guzun said.
During the overhaul of its factory, Panilino purchased and installed a new confectionery production line, raw material handling and packaging equipment, transportation vehicles and refrigerator trucks. The new equipment reduces heat, electricity and water consumption and ensures the delivery of high quality products.
The company also grew its workforce from 238 to 257 employees.
Panilino is one of 250 companies in Moldova that benefited from the EU4Business-EBRD Credit Line, which offers companies loans to modernise their production to bring them into line with EU standards. These loans, disbursed via local partner financial institutions (in Panilino’s case, it was Mobiasbanca) are coupled with grants and technical assistance funded by the EU under its EU4Business initiative.
Panilino was established in 2003 in Chisinau.