KYIV. June 15 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) could provide a loan of up to PLN 200 ($53.5 million) to Poland’s multi-layer floorboards producer Barlinek, a leader in Europe, for the expansion of its production capacities in Ukraine and energy efficiency investments in Poland.
According to a report of the EBRD on its website, the project will be discussed by the EBRD board on July 18, 2017.
The EBRD funding will be used to finance investments into the expansion of wooden multi-layer floorboard production capacities.
Barlinek Invest LLC, a subsidiary of Barlinek S.A. under ultimate control of Michal Solowow, will receive the funds.
As reported, Barlinek Group in 2007 launched a wooden three-layer floorboard production facility with the financial assistance of the EBRD for $75 million. The annual capacity of the facility is 2 million square meters of products.
In 2013, Barlinek decided to shut down the wood processing plant in Kosiv (Zakarpattia region), as attempts to optimize operations using different options failed to be successful.
Barlinek owns production facilities in Poland, Ukraine and Romania with a total annual capacity of 9,000 square meters.
