Home News center Press releases 2009 Sep

European Bank of Reconstruction and Development will discuss the possibility of providing Centravis with financial package, which consists of two parts: equity investment up to EUR 10 million and a loan of EUR 48 million. The final decision is to be made at the meeting of the Committee of Directors of EBRD, September 30, 2009.

Project objectives:
- To improve Centravis’s balance sheet through an equity base increase and introduction of a proper proportion between short-term and long-term debt;
- To further improve environmental standards of Centravis in the seamless stainless tubes and pipes sector
- To strengthen the corporate governance standards of Centravis.

By today the company got through Environmental and Social Due Diligence, consisting of an environmental analysis of CJSC “Centravis Production Ukraine” investment programme and an environmental audit of the existing production facilities. The Company has a good Environmental, Health and Safety Management systems, which are certified to the ISO 14001 and OHSAS 18001 standards respectively. In terms of social aspects, the Company has good Human Resource management system and is addressing social and labour issues in line with national requirements as well as corporate standards of EBRD.

The resume of the project you can find at EBRD site http://www.ebrd.com/projects/psd/psd2009/38715.htm (Ukrainian version in pdf is available).