Scholz Balkans

completed

Scholz AG, based in Essingen, is one of the leading metal waste management and recycling company in Europe and Balkan countries with developing presence in Asia, Central America, Middle East and North Africa. The project of approximately US$ 120 million is to support operations of Scholz A.G. Germany (“Group” or the “Sponsor”) in Croatia, Serbia, Bosnia and Herzagovina, Kosovo, FYR Macedonia, Romania and Albania (referred to as the “Balkan” countries or the “Region”) over the next three years. The IFC investment will consist of a loan up to US$60 million in Euro equivalent. The investment will finance modernization and working capital needs of the Group in the Region. The project includes increase of processing capacity and product mix, installation of post-shredder technology in Croatia, investments in two new sites in Bosnia, restructuring of metal recycling company owned by Scholz in Albania and provision of maintenance capex in Albania, Croatia, FYR Macedonia, Montenegro and Romania.