The European Bank for Reconstruction and Development (EBRD) is granting Italian wood processor Florian SpA a € 5 million loan to build a pellet plant at its Croatian subsidiary Lipovljani Lignum doo.
The bank also supports the company in efficiency control by establishing a Corporate Governance Action Plan (CGAP). The pellet plant is being built on the premises of the woodworker DIN Novoselec doo, again a subsidiary of Lipovljani Lignum doo The Florian Group acquired DIN Novoselec doo at the end of 2016. The company produces parquet and oak solid wood furniture.
The total investment is estimated at 10 million euros. Of this, Florian Group finances half of its own funds, the other half is financed by the EBRD.