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Olympus S.A.

Romania | Consumer Staples

Identification Code:: OP/11/0861
Total Operation Cost:: 55.000.000 EUR
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

30.000.000 EUR – 28 Dec 2011
: BSTDB Signed Amount – Signed Date

30.000.000 EUR – 29 Feb 2012
: Status:
Completed
Description and Purpose of the Operation:: The project refers to a long-term corporate loan to finance the construction of the new production plant of dairy products of Olympus SA, Romania The loan finance would enable Olympus to achieve highly efficient and competitive production of dairy products and to expand production in Romania. In addition, it will set high standards of business conduct including improvements of environmental performance and increased quality.
Countries of Operation:: Romania (100,00%)
Financial Product:: Loans
Sector:: Consumer Staples
Domain:: Private
Borrower/Client:: S.C. Olympus Dairy Industry S.A., Romania
Co-Financers/Participants:: —
Guarantors/Sponsors:: Tyras Group S.A. Greece and Olympos S.A., Greece
Developmental and Regional Cooperation Impact:: Modernization and capacity building leading to increased competitiveness of a successful company/Group in Romania and Greece; Help comply with high environmental and quality standards for diary products; Generate additional export and tax revenues; Promote regional cooperation among BSTDB member states via investments and exports.
Environmental Classification and Impact:: Screened as B category. Environmental assessment focused on the following EHS issues which are associated with the Borrower's activity: effluent treatment and discharge, food hygiene and product contamination, odours, type of refrigerants used, and air emissions. The assessment concluded that these issues are not likely to generate significant negative EHS impacts due to the fact that the Borrower applies adequate mitigation measures and it adheres to generally recognized performance standards, guidelines and/or design criteria for dairy products manufacturing industry.
Operation Leader:: General Industries, Transport, Tourism 2
E-mail:: gitt2@bstdb.org