November 4, 2010

European bank to finance Romanian oilseed processor Expur

The European Bank for Reconstruction and Development (EBRD) is supporting the development of the Romanian rapeseed industry with a EUR80 million (US$112 million) syndicated financing package to Expur S.A.

Expur currently crushes rapeseed and sunflower seed, producing crude rapeseed oil, refined edible sunflower oil, as well as rapeseed and sunflower meal and biodiesel, for both domestic and export markets.

The EBRD financing will support Expur's strategy to contribute to the development of the rape meal and biodiesel markets in Romania.

The increased demand for rapeseed as a raw material for these products would encourage local farmers to cultivate more of the crop for domestic use.

In addition, the increased availability of rapeseed meal, as a more cost-effective alternative to imported expensive soymeal, would also support Romanian livestock producers in their efforts to reduce the cost of animal feed, thereby reducing the cost of meat for the Romanian consumer.

Expur was recently acquired by Saipol S.A.S., the French leader in oilseed crushing and vegetable oil refining.