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VTB enhances cooperation with Synergy Group of Companies

22 April 2009

Striving to enhance long-term relations with Synergy Company, VTB Bank Branch in Vladivostok provided the enterprises of the group with another trance of credit resources worth RUB 27 million.   The volume of the loans totaled RUB 470 million. The funds were channeled into replenishing the working capital of such enterprises of the Group as JSC Ussuriysky Balzam, LLC Ussuriysky Balsam Trade Network, and Myasokombinat Nakhodkinsky. 
Cooperation between VTB and Synergy started in 2005, when VTB branches set first limits of credit risks to Synergy enterprises. In September 2008, while developing business with the leading enterprises of Russian spirits market, VTB Bank set a single credit limit to Synergy Group of Companies amounting to RUB 2.3 billion. Today, Synergy thinks of implementing payroll project through Bank VTB24 (joint-stock company).

For reference:
Synergy is the second largest producer of spirits in Russia in terms of production volume and occupies 8% of Russian legal spirits market (according to Rosstat as of July 2008 taking into account the acquired Myagkov brand). 
Today, Synergy Group of Companies comprises 7 distilleries and 1 spirit plant, as well as a number of food business production facilities. The Group's share in the spirits market accounts for 8%, and 10% in terms of money (it is ranked 3d by production, 3d - by shipment and 2d - by cost of shipped products).    
The Group operates in the Moscow, Nizhy Novgorod, Arkhangelsk, Perm, Kemerovo regions, Primorsky and Khabarovsk territories.

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