SWEDBANK LITHUANIA PROVIDED 60 MILLION EUR FUNDING TO GIRTEKA LOGISTICS GROUP
It’s official – Swedbank Lithuania, one of the biggest commercial banks in the country, announced that it had granted Girteka Logistics, Europe’s leading asset based transport Group, 60 million EUR funding. 50 million euros were provided in a form of leasing, and 10 million euros as an overdraft. Funding is being used for expansion of the Group‘s truck and trailer fleet and working capital financing.
„We are constantly growing our fleet to keep the leading positions in the industry. Thus, we do need a strong financial partner to help us reach our goals. Very recently we have acquired 500 DAF XF trucks for our international logistics operations. Investment into expansion means that we can plan our further development of operations in Europe and strengthen our positions in this region“,– said Mantas Ranonis, Chef Finance Officer of Girteka Logistics.
„Girteka Logistics is Lithuanian business jewel which managed to organically grow from one truck in 1996 to European leader in international Full Truck Loads (FTL) transportation. While maintaining constant double digit growth, group does it in environmentally sustainable way – older trucks are being replaced by new ones of the latest technology which results in decrease of CO2 emissions, higher fuel efficiency and road safety
Therefore, we are happy to help this distinguished company to grow and maintain position as a leading transport and logistics company in Europe“,– Head of Swedbank Lithuania Large Corporate Clients department Arnoldas Gaudiešius said.
This year commercial transport leasing market in Lithuania has been steadily growing. Lithuanian Banking Association data shows that financed amount has grown by 9 percent in the first quarter of this year. It is forecasted that as companies are renewing their transport parks and investing in their expansion, the growth will continue throughout the year.
Girteka Logistics is Europe’s leading asset based Transport Company that delivers more than 420,000 Full truck loads annually. The company has more than 5,000 trucks and 5.500 trailers operating in Europe, Scandinavia and CIS.