RIGA, July 21 (LETA) - SEB Banka has extended a EUR 4.5 million loan to Jensen Metal, a company based in Liepaja Special Economic Zone (Liepaja SEZ), LETA was told at the bank.

The bank's representatives said that the loan will be used to expand the company's production plant in Karosta, Liepaja. 

"In recent years we have made significant investments in our production premises and equipment to not only automate production processes but to also ensure more comfortable and better working conditions for our employees. During this financial year, EUR 4.5 million have been invested in equipment and EUR 11.5 million in buildings in Latvia. With demand and production capacity growing, hiring more employees is a pressing issue at the moment," said Jensen Metal representative Ieva Limeza. 

Last financial year, which lasted from May 1, 2020 to April 30, 2021, Jensen Metal turned over EUR 33.4 million. 

Jensen Metal, registered in 2004, has a share capital of EUR 201,640, according to information from Firmas.lv. The company's sole owner is Denmark's Jensen Metal Holding.

Jensen Metal makes food production and agricultural equipment as well as fittings components. 

SEB Banka is the third largest bank in Latvia by assets.