Šiaulių Bankas and Juodeliai UAB signed a 20 million euro loan agreement for business development

2019-03-13

Šiaulių Bankas has signed a loan agreement with a wood processing company Juodeliai UAB - the company has been granted 20 million  euro loan for investments in a world-class packing component factory in Marijampolė.

New factory will be equipped with world fastest packing component production line, unprecedented cutting line and, what is more,  we also plan to created 100 new working places", - states Andrius Zimnickas, the owner and director general of Juodeliai, speaaking about the development project. 

The new factory is expected to start operating in September  2020, to double production capacity and to exceed  100 million euros of the turnover.

"We are pleased to call Šiaulių Bankas our partner who allows our company to grow and implement its ambitious plans", - says A. Zimnickas.

This is the second joint project of Šiaulių Bankas and Juodeliai. In 2013, the bank financed the company with nearly 29 million litas credit for the construction of Radviliskis wood processing factory and purchase of equipment.

“Juodeliai UAB is a role model for Lithuanian companies showing how to develop their businesses ambitiously and  reasonably at the same time, go  in line with global innovations and meet the market needs. We appreciate  contributing to the successful business growth ”, - says Daiva Šorienė,  Deputy CEO, Head of Marketing and Sales Division of Šiaulių Bankas.

According to D. Šorienė, wood processing is the multi-perspective area of the economy the success of which in the long run goes to companies focusing on higher value and development of export sales. Investments in innovative technical equipment increase both the productivity and competitive edge.

In 2018, loan and financial lease portfolio of Šiaulių Bankas Group increased by 17 % and amounted to 1.4 billion euros at the end of the year.