Following intensive talks with its principal banks, the new financing concept has now been finalised.
The concept has three pillars: the reconstruction of existing short-term loans as long-term loans, the safeguarding of working capital finance for three years, and providing future scope for increasing credit in response to demand. With the new financial concept, the company has managed to maintain the borrowing arrangements available of currently around € 27 million at globally the previous level, and shift the emphasis back towards medium to long-term maturities. "We are delighted to have brought the talks with our long-standing banking partners to a successful conclusion," declared Dirk Engel, Finance Director of technotrans AG. "The concept is also flexible enough to accommodate a recovery in business over the next few years. And it gives us planning certainty for the coming years."
These press releases contain forward-looking statements which are based on assumptions and estimations by the management board of technotrans AG. Even though the management board is of the opinion, that those assumptions and estimations are realistic the future development and the projected results may deviate substantially from the forward-looking statements. Those deviations can be due to several factors including but not limited to changes in the macro-economic situation, in the exchange rates, in the interest rates and in the graphic arts industry. technotrans AG gives no warranty and does not assume the liability for any damages in case the future development and the projected results do not correspond with the forward looking statements.