Parisot applies for 18m euros from EBRD

France-based Parisot Group, one of largest investors in the furniture industry in Romania, has applied for an 18-million-euro loan from the European Bank for Reconstruction and Development (EBRD) in order to build two furniture factories in Tarnaveni, Mures County. The investment by the French group in Tarnaveni will amount to 40 million euros and will be made over three years. From the 18 million euros the company is looking to obtain from the EBRD, 6 million will come from commercial banks. “The project will help the company bring manufacturing up to western standards, and will also help develop the market for lumber suppliers, improving local supply with new added value products for low and medium-price segments,” EBRD says. The Parisot officials did not reveal any further details of the project by the time this story was ready for print. EBRD”s board will consider this three-phase project early in September. ZF