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EBRD provides loan to Romanian packaging firm

The European Bank for Reconstruction and Development (EBRD) has provided a EUR3.7m mezzanine financing to Romania-based packaging firm Industrial Mecano, to support the company's development strategy.

The EBRD loan will enable Mecano to increase its output capacity and expand its current product portfolio with higher value added packaging solutions, which are currently imported to Romania.

The company will also use the loan to relocate its operations from within Bucharest to new and more energy efficient premises.

Industrial Mecano General Manager Leontin Pascaru said the loan will help the company to increase the volume and range of products it manufactures, including import substitutes.

The company, which began production in 2001, manufactures packaging materials, packaging machines and tools, as well as special adhesive tapes. Industrial Mecano serves over 350 clients in Romania, including large corporates in the food and beverages sector, the construction materials sector and also retailers.