The European Bank for Reconstruction and Development (EBRD) is making an equity investment of up to €7m in Forma Ideale, a furniture manufacturer in Serbia.
The funds will enable the company to accelerate its growth and the expansion of its export business.
Forma Ideale will build its first modern logistics centre close to its production facility in Kragujevac, in central Serbia. The new warehouse will enable the company to consolidate its logistics operations, reduce delivery times and improve overall production efficiency.
In addition, the proceeds will also be used to strengthen Forma Ideale’s balance sheet.
The company has a wide distribution network across Serbia and a highly recognisable brand. It exports a significant portion of its production to neighbouring countries like Bosnia and Herzegovina, Croatia, Montenegro, FYR Macedonia and Romania.
Commenting on the financing, Vladimir Lazarevic, General Manager of Forma Ideale, said: “Having the EBRD as partner represents a great honour and a sign of recognition for Forma Ideale’s development plans. We welcome the EBRD as our partner and are looking forward to working together on further growth and expansion, accompanied by future production investments”.
FinSMEs
18/11/2009