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VTB Bank strengthens ties with Volma

 
2 July 2015

VTB Bank strengthens ties with Volma © photoexpress.ru

VTB Bank and Volma, a producer of high quality finishing materials, have signed two loan agreements worth RUB 600 million over three years. Volma will use the funds to finance the construction of a new facility in the Republic of Adygea and to increase its working capital.

“Supporing manufacturers is one of the bank’s priorities, given the importance of the real economy sector to Russia. Volmais a major producer of finishing materials and a serious competitor for West European companies. I’m sure that the bank’s support will help it strengthen its position both in Russia and in foreign markets,” said Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board.

“VTB Bank is very important for Volma’s growth, especially in the current difficult economic situation. They are a strategic financial partner, and their assistance has helped us increase our business in recent years,” Volma Director General Vladimir Ovchintsev said.


For reference:

VOLMA is a leading Russian producer of gypsum and cement-based finishing materials, including dry mortar, plasterboard and gypsum partition blocks using its own raw materials. The company has five gypsum quarries in Orenburg, Samara, Bashkortostan, Adygea and the Karachayevo-Circassia; six plants, including VOLMA-Volgograd, VOLMA-VTR, VOLMA-Voskresensk (Moscow Region), VOLMA-Chelyabinsk, VOLMA-Absalyamovo (Tatarstan) and Belgips (Belarus); 11 sales centres in Volgograd, Moscow, St Petersburg, Voskresensk, Voronezh, Krasnodar, Kazan, Novosibirsk, Crimea, Minsk (Belarus), and Astana (Kazakhstan); and 170 sales centres in 75 Russian regions and the CIS.

Tags:
lending

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