Volciuc-Ionescu has advised Banca Commerciala Romana on a EUR 25 million financing to TMK-ARTROM for the development of a thermal treatment line. Vernon | David advised the borrower.
Based in Slatina, Romania, TMK-ARTROM, a TMK subsidiary, announced the heat treatment line investment project on December 8, 2016. "As a result of the investment, the annual capacity of the thermal treatment line will be 160,000 tones," commented Adrian Popescu, General Director of TMK-ARTROM. "Once this new line will be installed, TMK-ARTROM will consolidate its market presence, with superior tubes for mechanical applications and for the exploitation of oil and gas."
Catalina Porojan, Executive Director of Group Large Corporate BCR, added: “Financing of companies which are investing in modernization and optimization of production facilities is one of our key priorities as we are directly involved in the sustainable development of the economy. We will continue to provide support and resources by means of such credit facilities, as our mission is to support the Romanian business environment and, hence, create prosperity."
The Volciuc-Ionescu team advising BCR was led by Partner and Head of Banking and Finance Sabin Volciuc and included Associate Alexandru Achim.
Advising TMK-ARTROM, the Vernon | David team consisted of Partner Daniela David, who handled the corporate side of the transaction, and of Partner and Head of Banking Diana Neagu, who handled the financing issues.