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Monday, November 12, 2018

Bank of Moscow extends financing to ALEV

The regional operations office of the Bank of Moscow in Samara recently extended a loan of $4.8 million to ALEV CJSC for 2.5 years for the company to refinance its debt to other banks, as well as $3 million for one year to replenish the company's working capital.

ALEV produces a wide range of consumer dairy products, including butter and spreads, semisolid and processed cheese, as well as whole milk and fermented milk products such as pasteurized and ultra-pasteurized milk, sour cream, cottage cheese, yogurt and whey drinks.

The products are made under the company's own trademark, Koshkinskoe, which originated in the village of Koshki in Samara, where the Koshkinsky Butter and Cheese Plant, the oldest plant in the region, is located. The company's portfolio also includes products with the Zavolzhsky trademark.

"We would like to point out that our cooperation with the Bank of Moscow has been very successful, with the Bank's staff promptly addressing, in a professional manner, all issues arising in the course of a transaction. We hope that our further cooperation with the Bank will be equally fruitful," Pavel Fedotov, ALEV's finance director, said.

"Supporting regional business is among the key areas for the Bank. ALEV is a remarkable player among the manufacturers of dairy products in the region, and we are glad that cooperation with the Bank of Moscow enables our clients to develop their business smoothly," Evgeny Monin, the director of corporate sales management at the Bank of Moscow, said.