Lines of credit totaling $700 million were opened for LMC Group companies — Lysvensky Metallurgical Plant (LMC) CJSC and INSAYUR-Autotrade-TL LLC — the Bank of Moscow said Monday.
The strength of the relationship of these companies with the Bank of Moscow is solidified with these new lines of credit. LMC CEO Sergey Rezontov sees this as confirmation of plans for future cooperation.
"The Bank of Moscow has been cooperating with LMC Group for more than three years, and during this period the Group's companies proved themselves as bona fide borrowers," Evgeny Monin, the Bank of Moscow's director of corporate sales, management department, said. "I am confident that our cooperation will continue to be fruitful and will help the group’s companies to develop dynamically."
LMC Group combines multiple manufacturing companies including Russia's sole producer of electrolytically galvanized rolling and preprinted rolling for the automotive industry.