In a bold move described as a “clear signal” of the EBRD’s commitment to it’s partners, the bank has approved a €10 million loan to the Ukrainian subsidiary of Polish flooring manufacturer Barlinek, SA.
The loan, being made available under the EBRD’s 2009 Mid Size Corporate Support Facility, is designed to help Barlinek continue its aggressive growth strategy which would otherwise be hindered by the lack of available financing in Ukraine.
The EBRD has provided two other loans to Barlinek; one in 2006 and the other in 2008. Barlinek’s strong performance made 2009 the best year in company history, while also earning the EBRD’s confidence for further investment.
Barlinek SA (www.barlinek.com.pl)
Formerly known as Barlinek Wood Industry Enterprise, Barlinek, SA was established in 1946 as a state-owned producer of floorboard products. The company was privatized in 1999 and changed its name to Barlinek, SA.
Today, Barlinek is Poland’s largest floorboard manufacture and third-largest in the world. In addition to floorboards, Barlinek also makes underlayment, skirting, floor mats, cleaning supplies, finishing supplies, and installation kits.
Total sales for the company in 2009 stood at just over PLN 496.5 million, an increase of 19% over the previous year. Barlinek is based in Kielce, Poland and employs more than 1,000 individuals.