EximBank – partner for Canah International’s development
Bucharest, July 24, 2017 – EximBank and Canah International, one of the main European manufacturers of natural products based on hemp seeds have concluded a financial agreement of more than 1 Million Lei aimed at continuing the company’s investment program for reaching its business targets.
”This partnership is very important to us since the company has an authentic entrepreneurship model. It is a model that sustains the perception that good ideas may become viable businesses at any point and with the right bank going along, understanding its needs and adapting to them, success may not be far away. Our cooperation with Canah International – one of the local companies that is successful abroad – confirms once again the fact that EximBank is a resource that may be exploited by Romanian companies looking for financial instruments for developing their businesses at national and international level.”, said Traian Halalai, Executive President of EximBank.
Canah International – the first Romanian manufacturer of hemp oil and the only integrated processing and ecologically certified production facility for hemp seeds in Europe, producing the whole product range (BIO and conventional) derived from these seeds – has built its factory in Salonta, Bihor, in 2007, with SAPARD funding. The company has upgraded continuously its facilities so that in 2015 it doubled its production capacity, reaching 2,000 tons of seeds /year, a project that has also benefited from EximBank’s support.
The company’s products – hemp oil, hemp oil capsules, peeled hemp seeds and hemp flour – are 80% delivered abroad, especially in Western Europe but also in the USA, labeled as Canah or private label the rest of the products being sold on Romanian market.
”The investment project is a necessary stage in our company’s development and aims mainly at expanding our storage capacity and acquisitions of equipment that will support increase quality in our products. We intend to continue our growth, to diversify our product range and to consolidate our top positioning on the global market we are active on. It is therefore important to us to continue the investments and we are delighted that we have found in EximBank the partner able to support our project”, said Dan Lăzărescu, founder and manager of Canah International.
About EximBank
EximBank is a specialized institution actively involved in supporting and promoting the Romanian business environment. Its specific financial instruments are exclusively targeted to the corporate segment and may be accessed in advantageous conditions by any type of company, either SME or big company, involved in international transactions or solely active on local market. The companies benefit from a competitive portfolio of treasury, cash management, trade finance and factoring products, that come to add up to the financing and guaranteeing offer. In addition, acting as a state agent on the Romanian market of guarantees and insurance, EximBank is the main channel for the public funds made available by the state to be infused in the real economy.
About Canah International
Canah International is the third business project initiated by Dan Lăzărescu, who founded in the ‘90s Rombel Medical services company (later known as Medicover) and the IT company Total Soft. In 2005, the entrepreneur exited all his businesses and decided to start fresh. Convinced about the therapeutically effects of hemp seeds – active in four areas: cardiovascular system, mental illness, dermatology, immunity, and analyzing several ideas and opportunities he has focused on processing hemp seeds niche. This fact allowed a highly specialization of the company on each productive segment, starting with selecting hemp seeds, storage, processing and packaging. The production facility is located in Salonta, the raw material coming mostly form imports. Canah International is mainly producing cold pressed hemp seeds oil, hemp oil capsules, peeled hemp seeds, protein hemp seeds powder, hemp seeds flour, hemp seeds fiber, hemp oil lotion for healthy skin and hemp seeds bars. The company had at the end of last year 35 employees and a 2016 registered turnover of almost 24 Million Lei, 5% higher than in 2015.
Additional details: office@canah.com +40 259 373 336 www.canah.ro