BUSINESS

Olympus Romania will borrow EUR 30 M to increase its export capacity

Olympus Romania continues its development strategy, by obtaining a EUR 30 M loan from the Black Sea Trade and Development Bank (BSTDB), following the inauguration by the Greek investor, in November 2011, of the most technologically advanced dairy factory in Romania, upon initial investment worth EUR 55 M made from own funds. According to company officials that attended the signing of the accord yesterday, this 7-year loan will allow Olympus Romania to increase its export capacity on international markets. “At this moment, 80 pc of the local output goes to international markets. In 2011, Olympus was the second investor in Romania, in terms of investment value, and last year the company registered a turnover of EUR 22.6 M,” Dimitrios Sarantis, Chairman Olympus, said in a press conference. Sarantis added that the destination countries for the products made in Romania are located in Central and Eastern Europe, and in the future the investor will expand its exports to Western Europe and the USA.In his turn, Ilias Pliatsikas, Deputy Managing Director Olympus Romania added that the financial situation of Greece did not affect the plans of the group in Europe, so EUR 20 M of the total incomes achieved by Olympus Romania last year were represented by exports, and estimations for this year exceed EUR 32 M from incomes.

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