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Unior Gets EUR 16.8M Loan from SID Bank

Zreče, 25 April (STA) - Unior, the Zreče-based maker of tools, has received a ten-year EUR 16.8m loan from the state-owned SID bank for the financing of R&D projects.

The money will be used for the financing of cutting-edge technologies, tools and production lines, Unior said in a press release on Wednesday.

Unior chairman Gorazd Korošec said the car industry had been hit hard by the crisis, but sales have nevertheless returned to pre-crisis levels.

Unior posted a net profit of EUR 1.3m for 2011 on sales that rose 23% to EUR 155m.

The loan was granted as part of a SID bank programme for the financing of technological and R&D projects.

The programme is funded with a EUR 100m loan from the European Investment Bank (EIB) and EUR 50m in budget funds.

This combination allows SID to offer low interest, the bank's chairman Sibil Svilan was quoted as saying.