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2010-08-16 08:00:00 CEST 2010-08-16 08:00:01 CEST Linas Agro Group AB - Other informationSEB Bank increased lending volume to PLC “Linas Agro Group” up to LTL 132 millionSEB Bank has increased its credit limit by LTL 52 million that was issued a year ago to “Linas Agro” - member of “Linas Agro Group”, engaged in international trade of agricultural products. Financing that has increased more than 1.5 times from LTL 80 to 132 million has been issued for the development of the company's activities and its working capital. “Despite economic changes both locally and in the global markets, public limited company “Linas Agro Group” remains one of the largest and most promising agricultural products exporters in the Baltic region. Considering the Group's successful activity development, its strengthened capital base and the significance of its relevant investments, we are aiming at strengthening our cooperation when remaining the Group's key financial partner,” says Aivaras Čičelis, Vice President and Head of Corporate Banking Division of SEB Bank. Chief Financial Officer of “Linas Agro Group” Tomas Tumėnas says that right now the situation is especially favourable for the development of the Group companies'. “In agricultural production trade signals of recovery are already manifest, therefore, successful cooperation with SEB Bank will enable our Group to entrench in global markets and maintain the leader position within the Baltic region. Lending volume enlargement is a measured step that will strengthen Groups financial stability and enable to realize development plans when expanding buying up scale of grains and selling scale of fertilizer to farmers,” T. Tumėnas says. About SEB Bank SEB Bank, member of SEB - a Northern European financial group - is Lithuania's major bank offering a full range of banking services to private individual and corporate customers and financial institutions. SEB Bank is Lithuania's market leader in terms of key banking services. SEB is Northern European financial group offering banking services to nearly 400 thousand companies and institutions and 5 million private individual customers. SEB provides universal banking services in Sweden, Germany and in the Baltic states - Estonia, Latvia and Lithuania; SEB has local presence in other Northern European countries, namely, in Norway, Finland and Denmark, also, it has its subdivisions in Ukraine and in Russia, and in the global market SEB is represented by its international subdivisions in the world's major financial centres. About Linas Agro Group, AB Linas Agro Group, AB is an integrated agribusiness company engaged in international agricultural business, production and trade in agricultural produce and raw materials. It controls companies in Lithuania, Latvia, Ukraine and Denmark. The Group consists of the following companies: Linas Agro, AB, a Lithuanian company engaged in international trade in agricultural plant produce; Linas Agro, UAB controlling grain storages; Grūdų centras, KŪB (controlling grain storages in Kėdainiai, Kupiškis, Joniškis, Šiauliai and Vilkaviškis), grain trade company in Latvia - Linas Agro, SIA; international trade company in Denmark - Rosenkrantz A/S; fertilizers trade and production company in Ukraine CJ-SC UKRAGRO NPK; Landvesta, ŽŪB, a group of companies controlling agricultural land; and Linas Agro Konsultacijos, UAB controlling agricultural companies. For more detailed information please contact: Ieva Kulvinskaitė, Head of Communication Unit of SEB bank Tel. +370 5 268 2423, 8 685 60 424, e-mail ieva.kulvinskaite@seb.lt Tomas Tumėnas, Linas Agro Group, AB Chief Financial Officer Tel. +370 45 507 393, e-mail t.tumenas@linasagro.lt |
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