Adval Tech Group: new basis for bank loans

(PresseBox) (Niederwangen, ) The Adval Tech Group has renegotiated existing bank loans prior to their maturity date in January 2013 and placed them on a new basis with a view to reducing annual interest costs significantly. The existing consortium consisting of eight banks will be replaced by two major Swiss banks end of January 2012. At the same time the existing revolving credit facility of CHF 135 million will be reduced to CHF 120 million. The difference of CHF 15 million has been offset by the inflow of funds from sales of real estate. The term of the new credit facility is 18 months. A major shareholder has signed a guarantee covering 50 percent of the credit line.

Adval Tech Gruppe

Adding value through innovation - that's what the name Adval Tech stands for. As a global technology and process partner, Adval Tech focuses on the complementary technologies of metal stamping and forming and plastic injection molding. In selected markets in the automotive, medical technology and consumer goods sectors, Adval Tech is a leading global supplier of volume components, subassemblies, systems, tools and special machinery. As a value-adding partner, Adval Tech covers the entire value chain: from product design and the development of volume components through design and production of the necessary molds and dies to complete manufacturing systems and the resulting production of components. Adval Tech trades on the markets under the names of AWM, FOBOHA, Omni, QSCH, Styner+Bienz and Teuscher.

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