Luminor Bank has granted a loan of 800,000 euros to SIA Olderi, a manufacturer of stickers, for the purchase of new production premises. The company had been renting premises but has acquired its own property to develop its operations.
The company specialises in the production of stickers for various business sectors, such as household products, cosmetics, food products, household chemicals, etc.
"Olderi has not only conquered the Baltic market, but also successfully exports its products to Scandinavian and Central European countries. This means that the company manufactures competitive products, and the acquisition of its own production facilities is only a logical and welcome development. The financing provided by the bank will allow the company to plan its business even more successfully and to adapt its production facilities to its current needs and future growth," says Ilze Zoltnere, head of Luminor's Corporate Department in Latvia.
To obtain the bank's financing, SIA Olderi has also received guarantees from the financial institution ALTUM.
SIA Olderi ensures high quality of its products, regardless of the volume of stickers ordered. The company offers both individually designed stickers and standard solutions, tailored to the customer's needs.
"The new production premises in Maskavas priekšpilsēta are perfectly suited for printing operations and do not require any investment to be specially adapted to accommodate the company's equipment. The financing provided by the bank has enabled us to purchase such a large space, not only to accommodate the raw materials in a rational way, but also to allow us to purchase them in larger volumes, which allows the company to reduce production costs. We will use most of the premises ourselves and rent out the rest to generate additional income," says Jānis Ločmelis, Chairman of the Board of SIA Olderi.
About SIA Olderi
The printing company SIA Olderi was founded in 1994. The company specialises in digitally printed self-adhesive stickers on rolls. The company helps to solve customers' most important packaging problems: where to place the necessary information, how to provide translations for export and, of course, how to highlight your products on the crowded shop shelves. SIA Olderi has more than 600 customers across Europe and exports around 30% of its production.
Luminor is the leading independent bank in the Baltics and the third-largest provider of financial services in our region. We provide financial services to individuals, families, and enterprises. We are new, dynamic, and forward-looking just as Estonian, Latvian, and Lithuanian markets.