EBRD grants EUR 25 mln loan for airplane components production in Romania

Newsroom 09/08/2012 | 06:13

The EBRD granted a EUR 25 million to Universal Alloy Corporation Europe (UACE) that will concentrate a part of the group’s production of metal aircraft components in Romania.

The loan will be used to develop the machined parts business, surface treatment and assembly operations of the company in the Dumbravita plant, northern Romania. UACE will produce here metal structure parts for aircraft manufacturers such as Airbus, Alenia and Boeing.

“With UACE’s knowledge and expertise and the support of the EBRD, Romania will meet the strict requirements of the high-tech industry, an important step for it to become part of the global aerospace market”, said Claudia Pendred, EBRD Director for Romania.

“The demand for aircraft parts is likely to rise with the growth of the air transport industry that is expected to continue by almost 5 percent per annum over the next 15 to 20 years globally, according to the largest aerospace manufacturers. This will maintain strong demand for new aircraft and consequently also for the aluminium parts produced by UACE over the medium to long term,” said John Ball, CEO of UACE.

UACE is part of the aerospace division of the Swiss-Austrian industrial group Montana Tech Components AG, one of the world’s four major producers of metal aerospace parts.