Sonaca Aerospace Romania (EBRD-47447)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 11, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Sonaca SA
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 8.59 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 8.00 million
Converted using 2015-11-11 exchange rate.
Project Cost (USD)
$ 16.85 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 15.70 million
Converted using 2015-11-11 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 11, 2017

Disclosed by Bank Oct 9, 2015


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Project Description
This project consists of a senior loan to Sonaca SA to finance the greenfield production plant in Romania which will increase Sonaca's capacity to supply large aircraft manufacturers with wing components.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Sonaca S.A. is the parent company of Sonaca Group and incorporated in Belgium. Sonaca Group is a Tier 1 supplier of aerostructures for large aircraft manufacturers. Sonaca has production sites in Belgium, Brasil, Canada, China and Romania to better supply its customers with worldwide operations.
Contact Information
Company Contact Information Christine LEJOUR christine.lejour@sonaca.com 003271255111 www.sonaca.com ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.