Croatian pharmaceutical packaging producer Piramida will receive a loan amounting €3.6m from the European Bank for Reconstruction and Development (EBRD) to expand its production.
The company will use €2.7m for balance sheet restructuring and the remaining €0.9m to finance additional production facilities.
Piramida has identified significant growth potential despite steady growth over the past years, and aims to address it with an investment program during 2012-2016 to replace or replenish the existing production facilities.
As part of the program, the company will extend the production hall, acquire additional production lines and install new technology to increase output.
Piramida CEO Kresimir Hlede said the investment will mark a change in the company's production facilities.
"Modernisation and extension of the production plant and introduction of new ampoules and vials lines will enable Piramida to create a competitive advantage, providing greater reliability and flexibility to our customers," Hlede said.
Piramida, which was acquired by Blue Sea Capital, manufactures ampoules and vials for the pharmaceutical industry.
