EBRD approves EUR 68mn loan to Serbian cosmetics producer Beohemija.

By bne IntelliNews July 27, 2011
The EBRD has approved a EUR 68mn loan to Serbian home-care and beauty products producer Beohemija d.o.o. to support the company's further development and financial restructuring, Beta news agency reported. The loan agreement, which will be signed on July 28, aims to facilitate the improvement of productivity, energy efficiency and environmental safety. Beohemija and its subsidiaries will be required to introduce IFRS accounting, apply the EBRD's environmental standards and implement an Environmental Action Plan. As recalled, Beohemija 's domestic sales rose by 25% y/y in 2010, while exports increased by 60%. In Q1 2011, the company posted a 30% increase in sales on the local market and a 22% growth in exports. Beohemija is the leading local producer of powdered and liquid detergents, which exports its products to Bosnia, Macedonia, Montenegro, Bulgaria and Slovenia.

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