Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Croatia
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-07-06
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: ALUFLEXPACK NOVI DOO
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 27.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 20,000,000.00
Converted using 2016-07-06 exchange rate.
Project Cost (USD): $ 27.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported EUR 20,000,000.00
Converted using 2016-07-06 exchange rate.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-05-08
Disclosure Date: 2016-07-11
Aluflexpack Packaging II
EBRD-48502

Project Description
The EBRD is providing a long term loan of EUR 20 million to the Aluflexpack group of companies (Aluflexpack Novi d.o.o, Omial Novi d.o.o, and TOF d.d. or "the Company"), owned by Montana Tech Components AG. The loan proceeds will be used to finance Company's capital expenditure into new technology that would result in the development of new innovative products and increased capacity.
Investment Description
Aluflexpack, a Croatian company is a niche player in flexible packaging segment in Europe producing containers, lids and other aluminium based products for food, pet food, pharmaceutical, confectionary and dairy industry. Since December 2012, it is fully owned by Montana Tech Components AG, a Swiss-Austrian diversified industrial group.
Contact Information
Company Contact Information Mr Johannes Steurer, CFO johannes.steurer@afp.hr www.afp.hr ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.