Albanian metal products manufacturer receives funding for expansion
Albania’s leading local manufacturer of fabricated metal products APM has received significant financing from the European Bank of Reconstruction and Development (EBRD) and the Enterprise Expansion Fund (ENEF). APM is a fully owned subsidiary of Alb-Star Sh.p.k., one of the largest private construction and engineering groups in Albania. A total of EUR 1,8 million will be provided to support the company’s expansion.
APM’s investment plan actually predicts a total of EUR 3,7 million to be spent in the purchase of machinery and equipment meant to support the expansion of capacity, undertaken as a response to growing demand from existing and new clients. This will also allow APM to strengthen its competitiveness and position in the EU markets.
"This is the first joint financing by the EBRD and ENEF in Albania and it represents an important milestone. We are pleased to support the growth of a dynamic Albanian company and its efforts to strengthen its position on export markets. APM’s development to date has also benefited from technical assistance from ENEF and the EBRD’s Advice for Small Business. This support will continue during the implementation of the project. We are committed to stepping up our financing to local enterprises in Albania and contributing to the competitiveness and development of the country’s private sector", said Matteo Colangeli, EBRD Head of office in Albania.
"Collaboration with the EBRD and ENEF is providing us with the opportunity to progress with the development of our company. This financing is enabling higher growth in exports, where there is significant demand for our products. The EBRD and ENEF are providing APM with growth at the technological, managerial and strategic level", added Altin Fuga, General Manager of APM.
The ENEF fund is supporting established small and medium-sized enterprises with high growth in the Western Balkans. The EBRD is also an investor in the fund, together with the European Investment Fund (EIF), the European Union (EU), the German Development Bank (DEG), the Development Bank of Austria (OeEB) and the government of Italy.
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