Spolek Pro Chemickou a Hutni Vyrobu A.S., the Czech Republic synthetic resin manufacturer known as Spolchemie, signed a 2.2 billion-koruna ($108 million) five-year loan.

The money will be used to support the company’s development plans, Paul Yianni, chief executive officer of Usti nad Labem- based Spolchemie, said in an e-mailed response to questions today.

LBBW, Postova Banka AS and Raiffeisenbank AS provided the facility, the company said.

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To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net