OREANDA-NEWS. August 19, 2014. VTB Bank has provided a RUB 700 million, seven-year credit facility to Merletto, a major regional confectionary and sausage producer. Merletto will use the funds to expand confectionary production, build new storage facilities and boost working capital.

VTB has worked with Merletto since 2012, providing the company with financing and cash management services.

"Loans enable companies like Merletto to implement high-value projects to expand and upgrade production and purchase modern equipment, allowing them to produce high quality goods and update their product range on a regular basis," said Deputy President and Chairman of the VTB Bank Management Board Mikhail Oseevskiy.

"Our company has been in business for over 15 years. Our key business principles are production quality and responsibility toward our customers and partners," said Merletto CEO Marina Annenkova. "I hope that partnership with VTB will further enhance our market positions and help us expand into new markets, primarily in confectionary production."