DGAP-News: GRAMMER AG secures three-year 110 million Euros line of credit
(firmenpresse) - Grammer AG / Miscellaneous
15.03.2010 10:59
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GRAMMER AG secures three-year 110 million Euros line of credit
Group of banks including a KfW-support program provides funding for three
years
Increase of existing credit facility by 20 million Euros
New line of credit secures future growth projects
Amberg, March 15, 2010 - GRAMMER AG, automotive supplier and manufacturer
of seating systems, has agreed with a group of six banks, supported by a
program of the German KfW-bank on a new medium-term working-capital
facility. The new line of credit has a volume of 110 million Euros and will
be available for three years. Compared to the existing credit facility, the
new line of credit has been increased by 20 million Euros or more than 20
percent.
In addition to this new line of credit, GRAMMER AG is still using the
existing long-term debenture bond with a volume of 70 million Euros and a
maturity until August 2013.
'With the higher credit volume our banks sending a clear signal of trust in
the financial solidity and future profitability of GRAMMER. Now our company
can secure future projects and investments and we are able to fund the
growth in the next years', said the CFO of GRAMMER AG, Alois Ponnath.
The complete GRAMMER AG 2009 Annual Financial Statements will be published
on March 31, 2010.
Company Profile
GRAMMER AG, Amberg, Germany, is specialized in the development and
production of components and systems for automotive interiors as well as
driver and passenger seats for offroad vehicles (tractors, construction
machinery, forklifts), trucks, buses and trains.
Our Seating Systems division comprises the truck and offroad seat segments
as well as train and bus seating. In the Automotive division, we supply
headrests, armrests, center console systems and integrated child safety
seats to premium automakers and automotive system suppliers. GRAMMER is
represented in 17 countries worldwide with a workforce of approx. 7,200
employees across its 24 fully consolidated subsidiaries. GRAMMER shares are
listed in the SDAX segment of the German Stock Exchange, and are traded on
the Munich and Frankfurt stock exchanges, via the Xetra electronic trading
platform and on the OTC markets of the Stuttgart, Berlin and Hamburg stock
exchanges.
GRAMMER AG
Ralf Hoppe
Phone: + 49 9621 662 200
Fax: + 49 9621 6632 200
investor-relations(at)grammer.com
15.03.2010 10:59 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Grammer AG
Postfach 14 54
92204 Amberg
Deutschland
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: investor-relations(at)grammer.com
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart, Hamburg
End of NewsDGAP News-Service
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Datum: 15.03.2010 - 05:59 Uhr
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