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Negotiations with bank LBBWabout financial questions

According to the execution new OCC project negotiations were carried out with German bank LBBW (Landesbank Baden Wurttemberg) about financing questions.

 In spite of hard situation in the country ZAO “Proletariy” continues to develop. The oldest does not mean an old and the evidence of this is the building of new OCC Line which our factory needs. It will help to increase the production on new level and to provide better quality of the board and to increase the capacity.
According to new OCC Line negotiations were carried out with German bank LBBW (Landesbank Baden Wurttemberg) about financing questions. As a result it was achieved he agreement about credit 85% from the equipment for the amount three million euro. Credit will be allowed on favorable terms: low interest rate, maturity date is 5 years after start up, grace payment period, reimbursement is begun after start up. It means we will start to pay bond-debt when board production will start on new equipment. It is very profitable for the factory. Unfortunately such terms are not presented any bank in Russia.


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