Valvis borrows EUR9 mln from BCR

Businessman Jean Valvis borrowed €9.2 million from BCR through Carpathian Springs, in the form of investment loans and working capital which will be used for the construction of mineral water bottling plant near Vatra Dornei.

Jean Valvis (photo) started in September the construction of a Greenfield project, 20km away from Vatra Dornei, where the new mineral water brand Aqua Carpatica will be produced. The facility will have an annual production capacity of 100 bottles and will create 50 jobs. The total investment amounts to €12.5 million, the businessman expecting the facility to become operational in July this year.

The company that holds licenses for the sparkling water springs and the three plain water springs is Carpathian Springs.

Aqua Carpatica brand will be launched in the market in 2010, and will fall under premium category. The product will be available in both the local market in PET packaging and abroad the water will come in glass bottles.

Valvis expects the Aqua Carpatica brand to gain a market share of 10% over the next two years and 20% by 2014.

The businessman has run a bottle design contest to identify the best shape in which Aqua Carpatica brand will be marketed. Over 500 design firms signed up to the contest, from countries like Italy, Romania, France, Japan, UK, Brazil and USA.

The final design of Aqua Carpatica bottle will be announced in March.

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