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.