EBRD invests in Turkey’s leading ventilations producer
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European Bank for Reconstruction and Development (EBRD) provides a loan of 5.5 million euros to Systemair-HSK, the Turkish subsidiary of the Sweden-based Group Systemair AB, engaged in the development, production and marketing of ventilation products and solutions, the bank reported.
The Bank’s financing will be used to build a greenfield site for air ventilation products in the Izmit region. The new facility will help Systemair-HSK increase its operational efficiency and enhance capacity to manufacture products compliant with European and international standards. It will also serve as the company’s regional hub, including for exports to the Middle East and the Balkans, the report said.
Systemair-HSK is one of the largest air ventilation companies and a leader in the air handler market in Turkey.
The EBRD started investing in Turkey in 2009 and currently operates from offices in Istanbul, Ankara and Gaziantep. Some 98 per cent of the Bank’s investments in the country are in the private sector and about half of them are in projects that promote the sustainable use of energy.
To date, the EBRD has invested over eight billion euros in Turkey through some 200 projects in infrastructure, energy, agribusiness, industry and finance. It has also mobilised about 17 billion euros for these ventures from other sources of financing.
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