JOINT PRESS RELEASE
22nd October 2014
Azomures has signed a financing agreement worth 75 million Euro for the modernization of the two Ammonia plants (intermediate product in the production of fertilizers).
The long-term unionized credit facility, intermediated by Banca Comerciala Romana SA in capacity of Coordinator with Banca Comerciala Romana SA and UniCredit Tiriac Bank SA in capacity of Mandated Arranger, will allow the Romanian fertilizer producer Azomures SA Tirgu Mures, to implement one the most important investment projects of the plant modernization plan.
The 75 million Euro contract was signed on 22nd October 2014, for a period of 10 years.
Azomures will use the financing for modernization of the two ammonia plants (intermediate product in the production of fertilizers). The modernization works will be carried out by the Swiss company, Casale Group.
As an objective of this investment, Azomures aims to fulfill all environmental requirements regarding the ammonia plants stipulated in the Integrated Environment Permit and BAT (Best Available Technology) documents, the reduction of energy consumption by 13% obtained through the reduction of methane gas specific consumption, modernization of the automated process command and control system and emergency shutdown systems by introducing the DCS (distributed control system) and increasing each plant’s production capacity from 900t/ day at present to 1.050 tons/day.
Financing was provided by Banca Comerciala Romana SA and UniCredit Tiriac Bank SA.
Radu Taracila Padurari Retevoescu SCA in collaboration with Allen & Overy LLP
Azomures Tirgu Mures is the most important Romanian producer of fertilizers for agricultural use. Azomures has an annual production of a minimum 1,3 million tons of fertilizers and over 2.700 people are employed. The Azomures products are supplied to farmers in Romania, other countries in Europe, Africa, China, Japan, South America and the United States. The main stockholder of Azomures company is Ameropa Holding AG in Switzerland.
Established in 1948, Ameropa is a privately-owned international grain and fertilizer trader in Switzerland, which covers traditional markets such as the United States, South America, Europe, Asia and Australia as well as emerging markets such as North Africa and the Middle East. Ameropa has over 4.700 people employed globally and trades 10 million tons of fertilizers and 10 million tons of grains annually.
About Banca Comerciala Romana
Banca Comerciala Romana (BCR), member of Erste Group, is the most important financial group in Romania, including universal banking operations (retail, corporate & investment banking, treasury and capital markets), as well as profile companies on the leasing, private pension and real estate bank markets. BCR is Romania’s top bank in terms of the asset value (14.4 billion EUR), in terms of the number of clients, savings and crediting services. BCR is Romania’s most valuable financial brand in terms of customer trust and the number of people for whom BCR is the main banking institution.
BCR offers a complete range of financial products and services, through a network of 22 business centers, 23 mobile offices dedicated to companies and 551 retail units located in most cities with over 10.000 inhabitants. BCR is Romania’s top bank on the bank transaction market. BCR clients have at their service the largest national ATM network – almost 2.100 teller machines and POS – 13.500 terminals for card payment to retailers, as well as complete Internet banking, Mobile Banking, Phone-banking and E-commerce services.
About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit, the top European financial group with the most extensive network in Central and Eastern Europe. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, providing high quality products and services to its approximately 580.000 clients. The bank aims to constantly maintain the client in the center of its activities, to be easy to work with and to be an active part of the communities within which it conducts its activity.
UniCredit Group is present on the Romanian market through the following companies: UniCredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, UniCredit Leasing Fleet Management, UniCredit Leasing Romania, Allib ROM, Debo Leasing, UCTAM, Pioneer Asset Management and UniCredit Business Integrated Solutions (UBIS).
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