EBRD approved loan of 10m EUR to company "Nectar" - Bačka Palanka announced construction of factory for production of cereals

Representatives of European Bank for Rehabilitation and Development (EBRD) and Serbian company "Nectar" signed the contract today (September 20, 2007) on loan in amount of 10m EUR, which is intended for further development of that company on the domestic market and penetration on the markets of Romania and Bulgaria.

Executive Manager of company "Nectar", Bojan Radun, said that that Serbian juice manufacturer would try to position itself in Romania through marketing campaign, in order to conquer that neighboring market. He also said that the company would, most probably, try to buy local manufacturer of fruit and vegetables in Bulgaria.

He pointed out that "Nectar" had annual income of about 55m EUR and profit of about 10m EUR in 2006, and that it expected income of more than 70m EUR in 2007.

Radun said that "Nectar" planned to invest in construction of factory for production of cereals in Bačka Palanka in 2008.

Manager of "EBRD Agrobiznis tim", Gil Metetal, estimated that the loan approved to "Nectar" would help that domestic manufacturer of fruit and vegetables to become even more successful on foreign markets, and he reminded that "Nectar" was no. 1 on the markets of BiH and Montenegro, and the 3rd in Macedonia.