EximBank is increasing the financing for Maschio-Gaspardo Romania up to 16 Million Euro
Bucharest, December 20, 2018 – EximBank and Maschio-Gaspardo Romania – manufacturer of agricultural equipment have agreed to extend the loan granted in 2017 by the bank for current activity from 2.6 Mil. Euro to 16 Mil. Euro.
”Flexibility and adaptability are valued by EximBank and translate into our capacity to take challenges, to be open for new approaches and to adapt to our partners’ needs. It is a feature that allows us to continue and extend partnerships with companies that are in full development process such as Maschio-Gaspardo Romania, for which we can provide the necessary financial resources for successful implementation of investment projects that support the extension of production capacities and volumes, products portfolio development and increased export values”, said Traian Halalai, Executive President of EximBank.
The agricultural equipment manufacturer Maschio-Gaspardo Romania, part of the Italian group Maschio-Gaspardo, worldwide leader in production of agricultural equipment for cultivating, seeding/planting, harvesting and crops protection owns a production facility in Chisineu-Cris, (Arad) 43 kilometers away from Arad producing various equipment for agrimotors (scarifier tools, disc harrows, cultivating racks, baling presses). The company finished in 2017 a project of extending and diversifying the production facilities, of approximately 10 Mil. Euro, consisting in extending the production facility by 8.650 square meters and purchasing the necessary equipment.
”We have seen your motto <România is growing with us> and I would like to state that we have also grown with you. We have come in Romania 15 years ago and we have managed to reach an annual turnover of 50 Mil. Euro supported all along by EximBank. I want to thank you for our entire collaboration – from the Arad agency up to the top management in Bucharest – for all your availability and the rapid adjustment to our needs. I have met many bankers in my life but your strong point was that you did not look only into numbers, business figures, but you have also wanted to look beyond desks. You have been in our factory and you have seen our equipment production process, you have been with us in the field when testing time arrived. The simple balance sheet will never express that human emotions”, said recently Mirco Maschio, President of Maschio-Gaspardo Group to EximBank employees during a common event.
Maschio-Gaspardo Romania is part of Maschio-Gaspardo Group. The group has now seven production sites, out of which three outside Italy – China, India and Romania, 12 commercial offices (France, Spain, Germany, Poland, Ukraine, Turkey, Russia, North America, China, India, and Romania). Maschio-Gaspardo is relevant worldwide having more than 2.200 employees and an annual turnover of more than 300 mil. Euro, out of which 80% exports in 100 countries in the world. , The group ranks first in Italy and in top production companies in the world for agricultural equipment. The group is present in Romania since 2003, having 450 employees in the factory in Chisineu-Cris.