Factories in Łowicz, Lublin, Tychy, and Olsztynek (Poland), Valenii de Munte, Giurgiu and Vatra Dornei (Romania), and Velingrad (Bulgaria) will benefit from the new investment.
“With this agreement, the Junker Plan demonstrates once again its ability to bring more cohesion within our Union. With this EUR 47 million loan to support the modernization of Maspex’s production, the EU is investing in regions that need to catch up, helping them to create jobs and grow,” stated European Commissioner for Regional Policy Corina Cretu.
“New investment in the food sector is crucial to continually enhance products and improve manufacturing. The EIB is pleased to support new investment by Maspex Group across the region that will strengthen employment and economic activity across three countries”, said EIB Vice-President Andrew McDowell.
“Maspex Group continues its programme of strategic investments in Poland (our home market) as well as in Bulgaria and Romania (our second-biggest market). The new EIB financing will cover investments in 2018-2021 in Łowicz, Lublin, Tychy and Olsztynek, in three locations in Romania (plants in Valenii de Munte, Vatra Dornei and Giurgiu) and one location in Bulgaria (Velingrad). All these projects enable us to develop our production facilities and implement technologically advanced logistics solutions, which will help us to increase our storage capacity. We are very glad that cooperation with the EIB enables us to improve our competitiveness. Thanks to the EIB financing, our company can meet the expectations of the various European markets better and more precisely,” stated Rafał Gruszeczka, CFO of Maspex Group.
The agreement is backed by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, also known as the “Junker Plan” . In this framework, the EU bank and the European Commission cooperate to increase the EIB’s risk-bearing capacity and thus improve its product offer and enhance the impact that the initiative can achieve.