The EBRD and Addiko Bank Croatia are joining forces to support the leading regional producer of fasteners solutions, DIV Group, to further invest in their long-term growth with a €30 million financial package.
Both banks will provide €15 million loans each for investments in energy efficiency measures, the provision of more sustainable working capital and support for balance sheet restructuring.
DIV Group is a leading producer of bolts, screws and fasteners. Incorporated in Croatia where it has two production sites, the company also runs facilities in Bosnia and Herzegovina and Serbia. The company has also diversified its product line and become active in providing specialized construction works in railway infrastructure projects and specialized metal solutions. The company exports around 90 per cent of its products and has become a supplier to global manufacturers of equipment for railway-related products, the automotive industry and other sectors.
Addiko Bank Croatia is part of an international banking group, active in supporting the growth of local enterprises in Croatia and its core south-eastern European markets. In Croatia, Addiko was the sixth largest bank in terms of total assets in 2017.
The EBRD loan comes under the Bank’s Direct Finance Framework, a facility to meet the growing business needs of local enterprises to finance their expansion and growth. The EBRD is a leading investor in the region. In Croatia alone, the Bank has invested €3.7 billion in more than 200 projects to date.
Original source: EBRD
Published on 9 November 2018