EximBank grants Arsat Group 11 Million Euro in a financing facility
Bucharest, November 04, 2019 – EximBank and Arsat Group from Arad – one of the most important Romanian capital exporters have concluded this year several financing agreements reaching a total amount of 52 Million lei (appx. 11 Million Euro) aiming at supporting the business development of the group.
Arsat is active in the industrial field as one of the largest manufacturers of aerospace industry components in Southern Eastern Europe, in agriculture – producing cereals and fruits – and in energy – producing energy from renewable sources. The projects financed by EximBank focus on diversification and development of the industrial business by integrating a new production facility for electric scooters as well as in agriculture by extending the fruit growing activity.
”This cooperation is entirely special for us because it involves a partner that may stand for a real family business model at any time. Starting in the golden era of Romanian entrepreneurship – 1991, Arsat is now proving that good ideas may turn to profitable business anytime and a small manufacturer of satellite dishes – as it was at the beginning- may become in time a significant regional player. Romania needs such models that confirm the development potential of its economy; the fact that Arsat has chosen EximBank as financial partner comes to pinpoint once again that the bank understands and easily adapts to its clients’ needs being a real resource for the companies that implement projects for their sustainable development as well as for the entire economy”, said Traian Halalai, Executive President of EximBank.
The agreement between the two parties aims supporting the implementation of projects funded by European Union, as Arsat Group is a leader of structural funds absorption. The company has a proven record of almost 40 projects implemented along the years reaching an aggregated value of almost 44 Million Euro, targeted mainly at technology acquisitions in order to increase the company’s competitive level on Romanian and international markets.
”Since the very beginning, we have considered that manufacturing goods is the basis of a society. This is why we have expanded our activity along the years, being now active in agriculture and energy apart from our industrial profile. We continue to innovate as we persist in our business principles and go on with our development so it comes natural to expand in a domain that we consider as successful in the future – manufacturing electric scooters. The first step was investing in a start-up – Scooterson –we are in market testing stage and our first electric scooters will be produced in our premises in Pecica and distributed for starters in United States of America. It is therefore important to us to continue our investment program and we are delighted to have found in EximBank a partner that trust in us and in our endeavors”, said Valer Ghinea, Arsat founder.
About Arsat
Arsat Group has been established in 1991, by Valer Ghinea, having as main activity the manufacturing of satellite dishes; today it comprises three manufacturing divisions: industry, agriculture and energy. The company produces parts for several industries such as aerospace, shipping, high-speed trains, road building equipment, medical field, automotive, electronics, etc. Clients’ portfolio includes companies such as Airbus, Apple, Boeing, ABB, Rolls Royce, Siemens or General Electric. In terms of agriculture, the investments have started in 1993; the company has increased constantly its exploitations from 200 hectares to more than 10.000 hectares at present. Arsat specializes in cereal production (sun-flower, grains, green beans, barley, corn and rape) and fruits (completed integrated production flow from growing own fruit trees to usage of the newest technologies; the company owns six farms and is now building 20 processing and storage). The group has invested in energy division in order to sustain a stable cost for electricity used in the premises, the total amount of generated energy amounting at 2.500 MW/year. www.arsat.ro