Kandia-Excelent takes 10m-euro loans

Kandia-Excelent, one of the leading sweets producers in Romania, intends to contract two loans worth a total 10 million euros. “One loan, worth 4 million euros, is part of a 15 million-euro investment budget that will largely finance the new production facility. The other loan, of 6 million euros, will be contracted to sustain the additional amount of products generated after the opening of a new production facility in October,” stated Sorin Alexandrescu, general manager of Kandia-Excelent. The company has called a General Meeting of Shareholders for October 9, in order to approve these loans. Alexandrescu did not wish to reveal the names of the banks that are to grant the loans to Kandia-Excelent, but he said they were banks from Romania, among the top 3 on the market. The Kandia-Excelent producer announced planned investments worth 15 million euros for this year, 13 million euros of which will be directed at increasing production capacity on the segments where the company is already present.