BSTDB Supports a Greek Packaging Manufacturer
Press Release | 10-Dec-2015
The Black Sea Trade and Development Bank (BSTDB) is providing a EUR 6.2 million loan to Hatziioannou Industrial and Commercial S.A., a Greek manufacturer of packaging solutions for consumer goods and industrial purposes. The maturity of the loan is up to seven years.
The BSTDB’s long-term financing will help to upgrade the Company’s technological base and expand its production capacity and product range.
Hatziioannou S.A. has a strong export-oriented profile, supplying its products to many countries, including the BSTDB members of Albania, Bulgaria, Romania and Russia.
“As a regional development bank, we are committed to accelerating Bank’s operations in Greece under the current challenging economic conditions and the lack of funding for businesses. We are happy to support Hatziioannou, an industry leader and a major employer operating in a less-developed region of Greece, to further improve its production processes and increase exports. The operation will have an important development impact in our host country at the time of its utmost need”, said Ihsan Ugur Delikanli, BSTDB President after the signing of the loan agreement in Thessaloniki.
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Hatziioannou Industrial and Commercial S.A. is a Greek family-owned and managed manufacturer of packaging materials established in 1978 in Stavrohori, Northern Greece. The company is producing paper packaging, offset printing and paper advertising solutions, manufacturing promotion stands, paper labels and graphic arts. Revenues amounted to EURO 14,7 million (2014), with nearly a quarter of the amount accounting for export sales.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.
Press contact:
Haroula Christodoulou
Phone: +30 2310 290533
E-mail: cchristodoulou@bstdb.org
