EIB supports food production modernization of Maspex Group in Central and South Eastern Europe | Progresiv
The European Investment Bank (EIB) has agreed to provide 47 million euros to support expansion, upgrading and modernisation of Maspex Group's food and drinks production and storage facilities. Factories in Łowicz, Lublin, Tychy, and Olsztynek (Poland), Valenii de Munte, Giurgiu and Vatra Dornei (Romania), as well as Velingrad (Bulgaria) will benefit from the new investment. 
The new support following successful cooperation between the EIB bank and the Maspex Group in Poland. In 2016 the EIB provided a 60 million euros loan to upgrade and modernize of food and drinks production, logistics and storage facilities.
European Commissioner for Regional Policy Corina Cretu said: “With this agreement, the Juncker Plan demonstrates once again its ability to bring more cohesion in our Union. With this 47 million euros loan to support the modernisation of Maspex’s production, the EU invests in those regions that need to catch up, helping them create jobs and grow.”
“New investment in the food sector is crucial to continually enhance products and improve manufacturing. The EIB is pleased to support new investment by the Maspex Group across the region that will strengthen employment and economic activity across three countries.” said EIB Vice-President Andrew McDowell.
Rafał Gruszeczka, CFO of Maspex Group, stated: “Maspex Group continues the program of strategic investments in Poland (our home market), as well as in Bulgaria and Romania (our second market of importance). The new EIB financing will cover investments in 2018-2021 in Łowicz, Lublin, Tychy, Olsztynek and in three locations in Romania (plants in Valeni de Munte, Vatra Dornei, Giurgiu) and one location in Bulgaria (Velingrad). All these projects enable us to develop our production facilities, implement technologically advanced logistics solutions, which will contribute to the increase of our storage capacity. We are very glad that the cooperation with the EIB allows us to improve our competitiveness. Thanks to the EIB sources our company can meet the expectations of the various European markets better and more precisely.”
The agreement is backed by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, also known as "Juncker Plan". In its framework the EU bank and the European Commission cooperate to increase the EIB’s risk bearing capacity and, thus improves its product offer and enhances the impact the project can achieve. (ec.europa.eu)
