EBRD grants EUR 30 million loan to Romanian oilseed processing company

Newsroom 05/09/2011 | 10:12

EBRD is granting a EUR 30 million syndicated financing package to Expur S.A., a local oilseed processing company. Expur crushes rapeseed and sunflower seed, produces crude rapeseed oil, refined edible sunflower oil, as well as rapeseed meal, sunflower meal and biodiesel, for both domestic and export markets.

EBRD financing will help support Expur’s strategy of contributing to the development of the rapeseed meal market and the cultivation of “high oleic” sunflower seed in Romania. “High oleic” sunflower seeds produce sunflower oil with a higher content of monounsaturated oleic acid. This reduces saturated fats in cooking, making sunflower oil even healthier.

Rapeseed meal, a by-product of edible oil and biodiesel production, is a cost-effective and locally produced alternative to imported soy meal. It would help reduce the cost of animal feed to Romanian livestock producers. This would, in turn, make meat and dairy products cheaper for Romanian consumers.

The new facility to finance Expur’s working capital requirements is in addition to existing EBRD financing, totaling EUR 80 million. Half of the new EUR 30 million loan will be for the EBRD’s account, and the remaining amount will be syndicated to Société Générale and Rabobank.

Expur is owned by Saipol S.A.S., the French leader in oilseed crushing and vegetable oil refining. Saipol, which is part of Sofiprotéol’s Oilseed Division, processes rapeseed and sunflower seed into meal for animal feed and vegetable oil for human consumption, as well as for sustainable energy (biodiesel) and the chemicals industry.