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EBRD invests in the Romanian dairy industry in partnership with Parmalat
In its first investment under a US$ 50 million (ECU 43 million) multi-project facility (MPF) signed late last year with Parmalat S.p.A., the European Bank for Reconstruction and Development (EBRD) has invested ECU 5 million in Parmalat Romania S.r.l. This Bucharest based company, owned by Parmalat S.p.A., will produce UHT and pasteurised milk and fruit juices.
Charles Frank, the EBRD’s First Vice President, Banking, said: "By investing in Parmalat Romania, the EBRD is helping to introduce new quality standards and improve the range of dairy and related products available for consumers in Romania. It will also assist the introduction of products such as UHT milk with a long shelf life and enhance competitiveness throughout the food chain."
Parmalat S.p.A. is a 100 per cent owned subsidiary of Parmalat Finanziara S.p.A., a listed company incorporated in Italy. Its business is concentrated in milk and its derivatives, fruit juices and bakery products. Building on its successful track record in emerging markets, especially in Latin America, Parmalat is expanding its operations in central and eastern Europe, with projects already established in Hungary, Russia, Ukraine and now also Romania.
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