The European Bank for Reconstruction and Development (EBRD) has approved the issuance of a EUR3 million loan to PrJSC Lantmannen Axa, a breakfast cereal producer in Ukraine.
“The project will support improvements and expansion of production lines and higher value-added products, which is expected to lead to improvement in profitability and efficiency,” the EBRD said on its website.
“Out of the total investment plan of the borrower, EUR1.09 million is planned to be used for modernization of the production lines and installation of automation and control systems, which is expected to lead to energy efficiency savings,” the report says.
Lantmannen Axa is part of the Scandinavian food concern Lantmannen, which supplies products to 45 countries.
Lantmannen’s annual turnover is more than $3 billion.
Lantmannen Axa is a large Ukrainian producer of breakfast cereals. At its factory in Boryspil (Kyiv region) it produces goods (granola, cereal bars, cereals) under the START and AXA brands.
