Ovostar signs loan deal for €10 million

Ovostar signs load deal for ¬ 10 million

Ovostar Union has entered into a seven year loan agreement with Landesbank Berlin for €10 million.

According to the Ovostar’s Board of Directors the funds from the loan will be used to finance the purchase of Salmet laying hens equipment and pre-fabricated poultry buildings. The funds will be used for the implementation of the 2nd stage of production capacity expansion programme. The program is to be completed in 2013 while its full effect will be materialised in 2014.

The loan agreement is covered by the guarantee of Euler-Hermes Deutschland AG.