Linas Agro Group
Notification on material event
SEB Bank increasing its financing for AB “Linas Agro” by EUR 26 million
SEB Bank has resumed its financing for AB “Linas Agro”, a company engaged in trade of agricultural raw materials and in product supply for the agricultural sector, increasing it up to EUR 94 million. Financing to the member of AB “Linas Agro Group“ increased by EUR 26 million for the coming year will enable it expanding its trade both locally and internationally.
Panevezys, Lithuania, 2015-07-21 08:36 CEST --
“Agricultural sector in this country is stable and has further growth potential. We are aware of this sector’s importance for the economic well-being of our country, therefore, we have been actively financing this sector companies for quite a number of years. So far, “Linas Agro” has been a success in developing its both local and international trade in agricultural products, so increased financing for its working capital will enable it to continue increasing its trade volumes”, says Aivaras Čičelis, Vice President and Head of Corporate Banking Division of SEB Bank.
AB “Linas Agro” Finance Director Tomas Tumėnas maintains that according to preliminary estimates over the financial year that ended in June AB “Linas Agro” product sales increase was nearly 1.7 million tonnes, or 4.5 per cent, year on year. Over financial years 2015–2016 the company expects to increase its volumes of different cereals sales and increase its trade in fertilizers in both the domestic and export markets.
About AB "Linas Agro Group"
Holding company AB “Linas Agro Group” that owns AB “Linas Agro”, a raw materials trade and products for the agricultural sector supply company, has 35 subsidiary companies that cultivate and sell cereals, oilseeds, feed raw materials, poultry and its products, also raw materials and goods for the production of agricultural products. The total number of staff within the Group in Lithuania, Latvia, Estonia and Denmark is more than 2,340 employees.
SEB is a leading Nordic financial services group. As a long-term customer relationship bank, SEB in Sweden and the Baltic countries offers financial advice and universal financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The SEB Group staff numbers about 17 thousand employees. For more detailed information about SEB please visit www.sebgroup.com.
For more information:
SEB banko ryšių su žiniasklaidos vadovas
Tel. (8 5) 268 1198, 8 687 04052
E. paštas email@example.com
Tomas Tumėnas Finance Director
AB Linas Agro Group
Tel.: (8 45) 507 393, 8 682 36616