Kalina to Get 40 Million Dollar Loan from EBRD

25.06.2009 — News

THE SVERDLOVSK OBLAST.

The European Bank for Reconstruction and Development will grant OJSC Concern "Kalina" two 5-year loans of 10 and 30 million dollars. The initial application for 35 million dollars was increased by 5 million with regard to the company's needs.

The Moscow EBRD office told RusBusinessNews that these loans are aimed at supporting the group's activities, considering the uncertain credit market situation and the lack of sources for long-term financing of the working capital.

In the first quarter of 2009 OJSC Concern "Kalina" generated a revenue of 2 billion 449 million 438 thousand roubles; its net profit equalled 71 million 325 thousand roubles.

OJSC Concern "Kalina" is one of the largest producers of branded cosmetics, toiletries and household products in Russia. In addition to production facilities in Ekaterinburg, the following companies belong to the holding: Kalina International SA (Switzerland), Subsidiary "Pallada Ukraine" (Ukraine), Kalina Overseas Holding B.V. (Netherlands), "Glavskazka International" LLC, "Dr.Scheller Beauty Center" LLC. Kalina's regional retail network in Russia and CIS consists of 213 companies.