Adesgo gets EUR 6 M loan from EximBank

The biggest Romanian manufacturer of women stockings and seamless lingerie Adesgo has concluded a financial agreement with EximBank amounting at EUR 6 million, a press release informs on Thursday.

This loan aims at financing the company’s activity and continuing the investment program in order to reach the business targets: increase production and sales volumes.

Adesgo is one of the most powerful brands on the local market, having a 90 years long tradition. Its production capacity reaches to more than 1 million stockings pairs a month, adapted to various demands in the field, and more than 600,000 lingerie items.

On the Romanian market, Adesgo own the brand DIAMOND by ADESGO and under this name they grew year after year the popularity of the products and constantly they launched new items.

The financial package from EximBank will be directed towards financing the current activity as well as for refurbishing some of their production locations.

”We are keen to grow and be performing to high standards and we are striving to always be one step ahead. We adapt, change, create, and innovate without loosing sight of the old values: keeping the products quality that made us famous and the transparency level towards our clients.  We are convinced  that we have to constantly grow, evolve and keep our position as leaders of the market and the partnership we have with EximBank supports our effort in reaching all our development targets”, said Yaron Mund, CEO of Adesgo.

The company has more than 200 employees and exports almost 85 percent of its products, on the local markets the products being present in six brand shops and also hypermarkets. The company registered in 2015 a turnover of RON 64.6 million, 6 percent higher than in 2014, and profits of almost RON 15 million.