The European Investment Bank (EIB) has extended a EUR 60m (around PLN 267m) loan to finance the expansion and modernisation of the production and storage facilities of Polish company Maspex Group, one of the largest food companies in Central and Eastern Europe. Part of the EIB financing (EUR 30m) is coming from theEuropean Fund for Strategic Investments(EFSI), at the heart of the European Commission’s Investment Plan for Europe.
Maspex is deploying a strategic investment programme in advanced logistics, production extension and efficiency improvement to increase the competitiveness of its businesses. The project backed by the EIB includes: the expansion, upgrading and modernisation of production facilities for products including fruit juices, fruit and vegetable preserves and pasta; the installation of new fruit and vegetable processing and preservation lines; and the development of the three advanced automated logistics and storage facilities in Lublin, Olsztynek and Łowicz. The company’s environmental investments will serve to increase energy efficiency and the production of renewable energy. These include the construction of a small biogas plant in Tychy and the installation of photovoltaic panels in Olsztynek. This investment programme will enable the company to strengthen its market position while creating over 150 new jobs and safeguarding existing employment in Poland.
EIB Vice-President Vazil Hudák, responsible for lending in Poland, stated: “Supporting innovative and environmentally friendly investment by growing companies in Europe is one of the priorities of the EIB, the EU bank. We are glad to finance Maspex’s endeavours, as they will not only improve its competitiveness and energy performance but also contribute to the creation of new jobs. This is exactly what the EFSI is about: more growth and jobs – and we are looking forward to supporting more investment of this type in Poland”.
Commissioner Elżbieta Bieńkowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs, said: "The agreement signed today shows how the Investment Plan for Europe can help to modernise industrial facilities while promoting competitiveness and safeguarding jobs. I look forward to seeing more such agreements in Poland in the months and years ahead.''
Bogdan Tyrybon, Business Supply Chain General Manager of Maspex Group, added: “The investments carried out by Maspex Group will, for the first time, be financed by investment loans originating from the European Investment Bank. This loan allows us to obtain financing not only on more attractive terms, but also with a longer maturity when compared to commercial banks. This makes the planned investments even more effective and flexible in responding to the needs of consumers. Investments in the area of logistics are very important for us from the standpoint of handling our trading environment. Clients’ expectations of suppliers are developing at a rapid speed. By keeping logistics services at the highest level, the Group will achieve a strong competitive advantage”.
The investments by Maspex Group will be carried out in the period 2016-2018. Capital expenditure will be used for the construction of new production halls equipped with modern production lines and the building of three modern logistics centres in factories in Lublin, Olsztynek and Łowicz:
In Lublin, the Lubella company, leader on the pasta market in Poland, recently completed the first investment phase. In less than a year a modern production and storage hall was constructed. The building has ample social facilities and office space with a total usable area of over 13 000 m2. The next stage of the project, which has already entered the implementation phase, is the construction of a modern warehouse equipped with an automatic control system and pallet transportation facilities, including an automatic high-storage system, and the purchase of production lines for pasta.
The plant in Olsztynek, where among other things Kubuś juices are produced, a modern production hall including a high-storage warehouse with 30 000 pallet spaces is being built.
The investment in the plant in Łowicz, where brands such as Łowicz, Kotlin and Krakus are produced, includes the construction of a new production plant with the installation of production lines and an automated logistics centre, as well as the expansion of facilities for the processing of fruit and vegetables. This is the first such large-scale investment made in Łowicz and the first implemented by the new owner, Maspex.
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