SIA Sabīne-E will expand production using financing from Industra Bank
Industra Bank has granted a long-term financing in the amount of 400 thousand euros to SIA Sabīne-E – the manufacturer of putty, adhesives, and other construction materials. It will allow the company to move to significantly larger production premises on Rankas street and expand its production volumes.
SIA Sabīne-E is a local Latvian company that produces putties, glues, primers, waterproofing materials, as well as mixtures for wood bleaching under the trademark "ELVI". The products produced by the company can be purchased in all the largest construction goods stores in Latvia - DEPO, Kurši, K Senukai, Krūza, Mājai und dārzam and others. Sabine-E supplies its manufactured materials to various repairers and furniture manufacturers in European countries, among its customers is also the IKEA furniture factory.
Raivis Kakānis, chairman of the board of Industra Bank: "We see that Latvian entrepreneurs have learned a lot from previous crises, the most important of these learnings is that one should plan their finances very pragmatically both in good times and in anxious times, but at the same time using the opportunities that arise. I am pleased that, despite the uncertainty in the global economy, production in Latvia continues to develop – our producers see opportunities for growth and use them. The company Sabīne-E has a wide range of clients in Latvia and elsewhere in Europe, and moving to new, much larger premises will allow the company to operate with even greater scope."
Omar Allahverdiyev, member of the board of SIA "Sabīne-E": "We are very grateful to Industra Bank for the granted financing. With the loan facility we will have the opportunity to further develop to a new level and expand our production volumes and sales geography even faster."
About Industra Bank:
Industra Bank is a Latvian credit institution established in 1994 with 21.4 thousand customers - one thousand four hundred legal entities and 20 thousand individuals. The bank was founded by local entrepreneurs and focuses on serving Latvia's small and medium-sized enterprises. For the convenience of its customers, the bank offers eight service centres - four of them in Riga, and the others in Daugavpils, Liepāja, Ventspils and Jelgava.