December 15 (SeeNews) - Romanian tissue paper producer Pehart said on Thursday that it plans to invest 20 million euro ($21.3 million) next year in energy-efficient equipment, green energy solutions and new production capacities.
The company has extended a syndicated loan obtained two years ago to 78.5 million euro in order to finance the investment plan, it said in a press release.
"Our development plans cover multiple areas, ranging from product diversification to technologies boost, strengthen our position on the local market and expansion abroad, as well as sustainable development" said Gabriel Stanciu, General Manager of Pehart Group.
The credit extension, worth 27.8 million euro, according to a press release from coordinator Banca Comerciala Romana (BCR), will also help increase the company's working capital.
The loan obtained in 2020, together with the current extension, were coordinated by BCR, as a mandated lead arranger, bookrunner, documentation agent, facility and security agent.
Pehart is controlled by private equity firm Abris Capital Partners. The company owns two production plants - in Sebes, Alba county, and Dej, Cluj county, and produces 100,000 tonnes of tissue paper annually and has a finished product processing capacity of over 75,000 tonnes.
($=0.9386 euro)
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