Financed ProjectsShelman

Identification Code:

OP/05/0491

Total Operation Cost:

0

Maturity:

88 months

Operation Status:

Description and Purpose of the Operation:

BSTDB provided a corporate loan to Shelman to further improve its products and to roll out a broad efficiency programme based on modernising its operating procedures, implementing new management practices and strengthen its export orientation.

Countries of Operation:

Greece (100,00 %)

Financial Product:

Loans

Sector:

Industrials

Domain:

Private

Borrower/Client:

Shelman Swiss-Hellenic Wood Products Manufacturers S.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The development impact stems from the job security effect in Thrace, one of Greece's less developed regions, where the company's second largest production plant is located and from the expected increase in trade with the Black Sea countries especially with Bulgaria, Albania and Romania.

Environmental Classification and Impact (summary):

According to the BSTDB environmental screening categories, the project is screened as A0. The Borrower proved to be in compliance with applicable legal requirements of the Hellenic Republic and EU Directives. The EIA studies are carried out every 5 years in order to set the environmental terms, based on which the Factory Operation Permit is granted by the Ministry of Environment and Public Works. The Loan Agreement required the Borrower to: 1) remain compliant at all times with applicable Hellenic and EU EH&S legal requirements, and specifically to: i) closely follow the officially approved environmental terms at both factories; and ii) conduct in due time EIA studies for both factories; 2) certify its EMS according to ISO 14001; and 3) submit to the Bank annual EH&S performance reports.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org