DGAP-News: Recyc Commodities SE : Provaluta Metallrecycling GmbH arranges credit line of EUR 2.7 million
(firmenpresse) - DGAP-News: Recyc Commodities SE / Key word(s): Miscellaneous
Recyc Commodities SE : Provaluta Metallrecycling GmbH arranges credit
line of EUR 2.7 million
22.03.2012 / 18:03
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Karlsruhe, March 22, 2012 - The Provaluta Metallrecycling GmbH; a 100 %
subsidiary of the Provaluta AG (which is 83 % owned by Recyc Commodities
SE), announced today that they have arranged a revolving credit facility
for EUR 2.7 million with a large, renowned German bank. The agreement
allows for an overdraft facility, and money market loans up to EUR 1
million, and can also be used for bank guarantees and import letter of
credits. The credit facility is collateralized by the company's metal
reserves.
Recyc Commodities SE's Managing Director, Paul Bosmediano, was extremely
pleased with the successful outcome of the negotiated credit arrangement.
'In light of the current stringent regulatory capital requirements
associated with Basel 3, the agreement reflects a great show of trust in
our business model on the part of a major German financial institute. This
credit facility will aid us in the further expansion of our business
activities. We can continue on our successful path of growth knowing that
we are well equipped for the future with this flexible, immediately
available liquidity buffer', said Paul Bosmediano happily.
About Provaluta Metallrecycling GmbH
The Karlsruhe, Germany, based company extracts valuable raw materials such
as Lead, Platinum, Rhodium and Palladium out of scrap metal. Provaluta
Metallrecycling GmbH possesses a modern laboratory with the technology
enabling it to predetermine the existing elements and their amounts in each
catalytic converter, prior to its recycling. Overall, approximately 20
people are involved in the ambitious project 'Save resources by efficient
recycling of metal'; from the purchase, the analysis, the certified
processing, the storage, through to the distribution.
About Recyc Commodities SE
The Recyc Commodities SE finances potential high growth companies in the
recycling industry, in their early and expansion phases. The financial
holdings are concentrated on innovative firms situated for the most part in
Germany. Recyc Commodities invests in partnerships as well as in exchange
listed corporations. In exceptional cases, Recyc Commodities is also
prepared to take over the management functions for certain specially picked
companies and/or service providers in the recycling- and raw materials
business.
Further information about Recyc Commodities SE can be found in the internet
under http://recyc.info/
Recyc Commodities SE
Herrenstraße 9
76133 Karlsruhe
Germany
T.: +49 (0)721 94 880 0
F.: +49 (0)721 94 88011
E.: recyc(at)recyc.info
End of Corporate News
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161905 22.03.2012
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Datum: 22.03.2012 - 18:03 Uhr
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