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VTB BANK, SYNERGY DEVELOPING COOPERATION
PanARMENIAN.Net
25.01.2010 11:17 GMT+04:00
/PanARMENIAN.Net/ Russian VTB Bank has provided vodka producer Synergy
with a 4.25 billion ruble ($143 million) credit limit. Synergy will
use the facility to replenish its working capital and to refinance
debt, the bank said in a statement.
Cooperation between VTB and Synergy started in 2005, when VTB
branches set first limits of credit risks to Synergy enterprises. In
September 2008, while developing business with the leading enterprises
of Russian spirits market, VTB Bank set a single credit limit to
Synergy Group of Companies amounting to RUB 2.3 billion. Currently,
Synergy plans implementation of payroll project through Bank VTB24
(joint-stock company).
Synergy is the second largest producer of spirits in Russia in terms
of production volume and occupies 8% of Russian legal spirits market
(according to Rosstat as of July 2008 taking into account the acquired
Myagkov brand).
Today, Synergy Group of Companies comprises 7 distilleries and 1 spirit
plant, as well as a number of food business production facilities. The
Group's share in the spirits market accounts for 8%, and 10% in terms
of money (it is ranked 3d by production, 3d - by shipment and 2d -
by cost of shipped products).
The Group operates in the Moscow, Nizhy Novgorod, Arkhangelsk, Perm,
Kemerovo regions, Primorsky and Khabarovsk territories.
PanARMENIAN.Net
25.01.2010 11:17 GMT+04:00
/PanARMENIAN.Net/ Russian VTB Bank has provided vodka producer Synergy
with a 4.25 billion ruble ($143 million) credit limit. Synergy will
use the facility to replenish its working capital and to refinance
debt, the bank said in a statement.
Cooperation between VTB and Synergy started in 2005, when VTB
branches set first limits of credit risks to Synergy enterprises. In
September 2008, while developing business with the leading enterprises
of Russian spirits market, VTB Bank set a single credit limit to
Synergy Group of Companies amounting to RUB 2.3 billion. Currently,
Synergy plans implementation of payroll project through Bank VTB24
(joint-stock company).
Synergy is the second largest producer of spirits in Russia in terms
of production volume and occupies 8% of Russian legal spirits market
(according to Rosstat as of July 2008 taking into account the acquired
Myagkov brand).
Today, Synergy Group of Companies comprises 7 distilleries and 1 spirit
plant, as well as a number of food business production facilities. The
Group's share in the spirits market accounts for 8%, and 10% in terms
of money (it is ranked 3d by production, 3d - by shipment and 2d -
by cost of shipped products).
The Group operates in the Moscow, Nizhy Novgorod, Arkhangelsk, Perm,
Kemerovo regions, Primorsky and Khabarovsk territories.