VÍTKOVICE MACHINERY TRADE, in collaboration with LIBERTY Ostrava, has successfully resumed production with the support of ČSOB and VÚB

Thanks to a successful tolling arrangement, VÍTKOVICE MACHINERY TRADE managed to resume production at two sites at LIBERTY Ostrava last year. This was all made possible thanks to financial support from the ČSOB Group, the state-owned Export Guarantee and Insurance Corporation (EGAP) and Všeobecná úvěrová banka.

The ČSOB Group provided VMT, a member of the CE Industries Group, with an operating loan for tolling financing equivalent to approximately 880 million crowns and a credit facility for factoring worth up to 750 million crowns, enabling the partial resumption of operations at the Liberty Ostrava steelworks.

The Export Guarantee and Insurance Corporation (EGAP) is involved in securing the operating finance from ČSOB. The tolling project has also received financial support from Všeobecná úvěrová banka, which provided VMT with a loan of 21 million euros (approximately 525 million Czech koruna) and a factoring credit facility worth 40 million euros (approximately 1 billion Czech koruna).

Vítkovice Machinery Trade, a member of the CE Industries group, focuses on preserving traditional Czech industry through tolling projects, where a third party covers the cost of materials and the tolling company subsequently sells them to customers.