ING Bank finances Romanian producer of paper and cardboard Vrancart with over 21 million euros

ING Bank Romania supports the development of Vrancart, one of the largest producers of paper and cardboard packaging on the Romanian market, with credit facilities worth 21.4 million euros. The financing offered by ING includes both working capital facilities and investment loans.

In the context of the growth of the packaging industry, the Vrancart company aims to strengthen its market position and invest in the acquisition of high-tech equipment, as well as in the development of recycling, production, and logistics capabilities. They will be based on the latest energy efficiency solutions and will allow better recovery and use of renewable resources in production processes.

“ING has always been a partner for the development of Vrancart, showing strong support, since the beginning of the partnership in 2014. Over the 9 years, we have financed and refinanced various investment projects to encourage the growth plans of the business. We are happy to be with them, through credit facilities of over 21 million euros, for their projects aimed at the circular economy.

Sustainability is one of the main pillars of ING’s strategy. We focus on the development of sustainable practices among Romanian SMEs and share good practice examples of entrepreneurs from the ING community. We are proud of the progress we are making, together with our clients, in the transition to a greener future” – Alexandrina Băluță, Medium Companies Strategy Manager, in the Business Banking division, within ING Bank Romania.

Vrancart owns the largest network of paper and cardboard waste collection centers in Romania

Vrancart is the only manufacturer of toilet paper in Romania based on paper waste recovered and processed in its own factory in Adjud, which are then converted into consumer products through the facilities of the Rom Paper subsidiary in Brașov and Adjud.

Currently, the company recycles more than 40% of the total wastepaper collected nationally, which means approximately 300 tons of paper and cardboard waste recycled daily.

In 2022, through the network of Vrancart collection centers, more than 150,000 tons of non-hazardous waste were collected, recycled in our own facilities or at partners.

“The new financing from ING targets all 3 divisions of the company, namely Waste Management, Paper and Packaging. The investment process is to take place in the next 2 years, so that Vrancart will strengthen its position as the champion of the circular economy in Romania.

After the inauguration in August of the first photovoltaic park of 1 MW, the Vrancart group has in progress other projects for the production of electricity and thermal energy from renewable sources, to be completed during the next year: a new photovoltaic park of 20 MW and a high energy efficiency cogeneration station, which together will provide more than 50% of domestic consumption needs. Also, we are developing facilities for recycling plastic waste, wood, but also paper and related residues of lower quality that will be transformed into raw materials or finished products for the various production and packaging needs of the market in Romania and the region.

Thus, starting next year, we will be able to say that in Vrancart nothing is lost, everything is transformed for the benefit of a sustainable and sustainable development both of the company, but also of the environment and the Romanian society” – Dragoș Holban, CFO within the group Vrancart

The Vrancart Group achieved a net profit of 10 million RON in the first half of the year and total revenues of 285 million RON from 2023. Since 2005, the Vrancart company has been listed on the Bucharest Stock Exchange.

The Vrancart Group, with 46 years of experience on the Romanian market, consists of 4 companies: Vrancart S.A., Rom Paper, Vrancart Recycling and Ecorep Group.