Expur attracts fresh financing

The EBRD will cover half of the new 30 million Euro loan and the remaining amount will be syndicated to Société Générale and Rabobank.
Expur crushes rapeseed and sunflower seed, produces crude rapeseed oil, refined edible sunflower oil, as well as rapeseed meal, sunflower meal and biodiesel, for both domestic and export markets.
According to the EBRD, the financing will help support Expur’s strategy of contributing to the development of the rapeseed meal market and the cultivation of “high oleic” sunflower seed in Romania. Rapeseed meal, a by-product of edible oil and biodiesel production, is a cost-effective and locally produced alternative to imported soy meal. It would help reduce the cost of animal feed to Romanian livestock producers. This would, in turn, make meat and dairy products cheaper for Romanian consumers.
“The EBRD is proud to support the diversification of agribusiness in Romania. Private sector initiative and innovation will be crucial to unlocking the potential of the domestic market in oilseeds, which will benefit the entire food value chain, including suppliers, farmers and consumers," said Gilles Mettetal, EBRD's Director for Agribusiness. In turn, Yves Delaine, Chief Executive Officer of Saipol, said: "Since acquiring Expur in 2010, the Saipol Group has developed the processing of locally produced oilseeds, which benefits both Romanian economic development and trade within the European and Mediterranean countries. The support of the EBRD in this strategy is greatly appreciated."