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Thursday, April 24, 2014
News Making Money

Turkey’s Nedex, producer of chemicals for insulated windows, to get €10 m loan

13/02/2014 15:55 (70 Day 00:48 minutes ago)

The FINANCIAL -- A Turkish producer of chemicals for insulated glass units has received EBRD support to continue developing new products and to help businesses and households save energy. The European Bank for Reconstruction and Development (EBRD) is extending a €10 million loan to Nedex, a dynamic family-owned company with manufacturing facilities in several countries, according to EBRD.

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Nedex was established in 1999 by two brothers – Derun Unluer, a mechanical engineer, and Belig Unluer, a metallurgical engineer. It is owned by the Unluer family. The company produces chemical products used in the manufacture of insulated glass units, such as double- and triple-glazed windows (molecular seals, polysulfide sealants, warm-edge spacers and aluminium spacers). Nedex products are currently being produced in Bulgaria, Germany, Kazakhstan, Russia, Turkey and Ukraine . The company employs about 500 people.

Nedex is constantly investing into new product development, which is financed by personal assets or short-term loans. EBRD financing will allow the company the opportunity for longer-term financial planning and will also support further growth of the business, according to EBRD.

 

The loan was made under the EBRD’s Local Enterprise Facility (LEF), which is a financing facility for direct investments in small and medium-sized enterprises (SMEs) in Turkey, south-eastern Europe and the southern and eastern Mediterranean (SEMED) region. To date, over €318 million in equity and debt financing has been mobilised under the LEF, to 66 SMEs.

The facility is supported by the government of Italy, the EBRD Shareholder Special Fund and the SEMED Multi Donor Account, to which Australia, Finland, France, Italy, Germany, Netherlands, Norway, Sweden and the United Kingdom contribute, according to EBRD.

 

 

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Politics
“The former Yugoslav Republic of Macedonia”: presidential election and early parliamentary elections

23/04/2014 16:38 (1 Day 00:05 minutes ago)

The FINANCIAL -- A 14-member delegation of the Parliamentary Assembly of the Council of Europe (PACE), led by Stefan Schennach (Austria, SOC), will travel to “the former Yugoslav Republic of Macedonia” from 25 to 28 April to observe the conduct of the presidential election (2nd round) and the early parliamentary elections, alongside observers from the OSCE’s Parliamentary Assembly and Office for Democratic Institutions and Human Rights (ODIHR), according to PACE.

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Markets
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