ELVAL Group announces, the signing of two finance contracts totaling euro 19 million with European Investment Bank. Borrowers are ELVAL S.A. for euro 7 million and its subsidiary SYMETAL S.A. for euro 12 million.
The funds will be used for the financing of Group's Investment program at Inofita plant that aims to increase the capacity and improve the environmental footprint of the Group, based on Group's commitment for sustainable development. On behalf of SYMETAL, the main investment concerns a new foil rolling mill as well as civil works and the necessary auxiliary equipment. The project also includes significant environmental investments, including a new system for minimizing rolling oil emissions and consumption at the foil mill for SYMETAL, a new friendly to environment de-lacquering furnace, as well as a new industrial waste water treatment plant that will allow for zero water discharge and significant water conservation for ELVAL S.A.