EBRD to consider granting loan of 15m EUR to baking industry "Klas"

European Bank for Reconstruction and Development (EBRD) announced today (August 13, 2009) that it considered granting loan of maximum 15m EUR to Serbian baking industry "Klas".

According to the announcement, "Klas" would use that loan to have its production units in the industrial zone near Belgrade modernized, which would improve capacity and efficiency, and expand its product portfolio.

It is added that the project, worth 35.8m EUR, would help "Klas" expand its retail network as well.

EBRD estimates that the project would also contribute to modernization of the baking industry in Serbia, which mainly uses very old equipment, since it would lead to construction of modern bakery that completely meets all HACCP, ISO 9000 and ISO 14000 quality standards.

It is pointed out in the announcement that the enlargement of capacities of "Klas" would also strengthen its relations with local suppliers.

- New modern baking industry will stimulate local manufacturers to bring themselves in accord with the best production practice and to improve standards in order to meet the requests of the company as far as quality is concerned - it is pointed out in EBRD's announcement.

As people from EBRD point out, "Klas" is the largest baking group in Serbia, and it is the majority owner of "Belgrade Baking Industry".

According to the data provided by the Business Registry Agency, the owner of 82.5% of "Klas" is "East Point Holdings", owned by Serbian entrepreneur Zoran Drakulić.