2 March 2009

Promsvyazbank has financed the import of equipment for the plant "Elastic"

Promsvyazbank organized the financing of the import contract for the purchase of equipment for the company "Zavod Elastik" amounting to 11.3 million euros.

The subject of the contract is extrusion line to form a polypropylene nonwoven fabric made in Germany. In 2009, the factory plans to start producing new material on the technology "Spunbond".

Funds raised under the loan agreement with German bank Landesbank Baden-Wuerttemberg for the insurance of export credit agencies of Germany Euler Hermes. Term of the financing is 7 years.

Zavod Elastik "(Nizhnekamsk, Tatarstan Republic) was founded in 1984.

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