European bank loans 25 million euros to Turkish packaging firm
The European Bank for Reconstruction and Development (EBRD) is providing a 25 million euro ($28 million) loan to a Turkish packaging firm to promote resource efficiency and environmentally friendly practices, the bank announced on May 1. The bank said the loan to Sarten Ambalaj would help the firm reduce the consumption of steel plates in metal packaging and cut down the energy and materials it uses in the production of plastic packaging, driving carbon emissions down. “This EBRD loan will help us use our resources more effectively and make our production more environmentally friendly,” said Zeki Saribekir, the company’s CEO. The financing will also pave the way for the company to further expand overseas operations while strengthening competitiveness in both domestic and foreign markets. Founded in 1972, Sarten Ambalaj manufactures metal containers for a variety of industries, including canned foods, cooking oil, aerosols, pesticides, engine oils, and paints. It also produces plastic packaging for paints, ketchup, cleaning materials and cosmetics industries. The company currently exports to more than 50 countries.