Romtextil partners with EximBank for its business development
Bucharest, March 19, 2013 – EximBank has granted a product mix amounting at Euro 1.8 Mil to Romtextil, one of the top local manufacturers of wires, fiber and polystyrene in order to support the company’s development this year.
”Our partner is a company with vision in terms of long term business growth, based on constant investment efforts made both before the economic crisis and in times of recession. Romtextil has succeeded lately to create new jobs, increase the exports volumes and to focus on the continuous growth of this activity. Choosing EximBank as a partner for this efforts is a clear indicator of our offer flexibility as well as of its extended addressability for companies looking to consolidate sustainable business models”, declared Traian Halalai, President of EximBank.
Romtextil Constanta manufactures and distributes sacs of polypropylene, polyethylene and big bags largely used worldwide for en gross packaging. Due to the new facility launched at the beginning of 2009, the company is now one of the most relevant Romanian processing companies for polypropylene granules.
”The financing package that we contracted with EximBank will allow the acquisition of materials and throughput for the manufacturing process so that the equipment will be functioning at its fullest. We have already organized three working shifts and we are looking at hiring more personnel. We did not believe in economic crisis and we focused on increasing our manufacturing capacity. We invested in 2008 and 2009 with a significant impact on turnover dynamics for 2011 and 2012. We hope that this year we will be able to increase our exports up to almost 30% of our turnover”, declaredOmer Susli, one of the company’s shareholders and President of the Romanian Turkish Association of Businessmen.
EximBank offers to Romanian companies a threefold product portfolio focused on financing, guarantee and insurance that allows the bank to support the activity and development of the Romanian exporters and companies active in priority economic domains. The financing package offered by the bank consists in standard financing for current activity or investments and specific products under the state aid category: subsidized interest rate loans and partial compensation of the interest rate
State guarantees offered by EximBank support the companies that need financing but cannot present enough collateral guarantees also being able to take over a significant part of the credit risk.
In terms of insurance, EximBank covers the commercial and political risks that might be incurred by the international commercial transactions or by the investments activities of the Romanian companies abroad.
The bank has a network of 12 entities in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva, Iasi and Sibiu; also, interested companies may access additional information on www.eximbank.ro.