The European Bank for Reconstruction and Development (EBRD) has announced it is supporting the efforts of Udine-based Italian special steel producer Acciaierie Bertoli Safau (ABS) to restart production at its steel plant in Sisak, Croatia through a €20 million loan.
The plans include the restoration of the plant's capacity to fully integrate the operations in Sisak into the production chain of the parent company. Sisak will produce semi-finished steel products which would then be transported either to the main facilities of ABS in Udine in northern Italy, or further to German and other markets.
ABS is a subsidiary of the Danieli group, one of the global leaders in supplying steel plants. ABS is a leading supplier of steel for the automotive and power sectors.
The Sisak plant was chosen by ABS because of its good transport connections with ABS's major customers. It was previously owned by US CMC, which acquired the plant in 2007 and operated the plant until 2011, introducing certain new investments in steelmaking at the plant.
Zsuzsanna Hargitai, EBRD director for Croatia and Hungary, commented, "This investment provides a stimulus to high value steel production in Croatia. The EBRD is strongly behind efforts to strengthen the industrial basis of Croatia through the promotion of competitive and efficient companies and the mobilization of its strong engineering tradition. We are especially pleased that the investment program in Sisak will result in significant environmental, energy and resource efficiencies."
Alessandro Brussi, Danieli board member, added, "ABS Sisak will operate in Croatia with the same quality and competitiveness already achieved by ABS in Italy for a long time. We are very pleased to have the EBRD as a reliable and committed partner in the internationalization of the Danieli Group."