12:23, 26 October 2009 Page views 304 views

NovaCard to expand its smart cards manufacture at the expense of Sberbank’s credit

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Volgo-Vyatsky bank of Sberbank of Russia has provided  NovaCard Company with a one million nonrevolving line of credit in US dollars and within the period of 3 years for purchasing smart card producing equipment.
NovaCard produces 1-1.5 million smart cards per month. Since the volume of orders on smart cards, now, is more than the company can produce, it has made a decision to buy additional equipment for chip implantation and personification. NovaCard intends to reach the maximum productivity within 1.5 years from the beginning of putting the new equipment in operation.

Volgo-Vyatskiy bank of Sberbank of Russia

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