Mexichem successfully negotiates improvement of Wavin's financing facility with European banks
(Thomson Reuters ONE) -
* Amended facility increases Wavin's financial flexibility, thereby improving
its balance sheet and providing support for its consolidation and
development plans and programs under the Wavin 2015 strategy.
* An agreement was reached for 320 million Euros in financing.
Mexico City, (Mexico) and Zwolle (the Netherlands), July 13 2012.
Mexichem S.A.B de C.V. reports that today it very successfully concluded
negotiating Wavin's credit with several European banks.
An agreement for 320 million Euros in financing was reached.
Previously established guarantees and restrictions have been eliminated. This
will generate annual savings of 3.2 million Euros through a reduction in the
rates, [principle] and additional charges that had been applied before. The
financing facility will mature in April 2015.
HSBC has joined the group of leading banks involved in this financing
agreement.
The negotiation increases the financial flexibility of Wavin, which will improve
the company's balance sheet and provide the support necessary for it to pursue
its consolidation and development plans..
Further information
Mexichem Wavin
Enrique Ortega Prieto Herbert van Zijl
Director of Strategic Planning and Investor Media Relations
Relations Telephone: +31 38 429 4209
Telephone: +(52 55) 5279 8304 E-mail: media(at)wavin.com
E-mail: eortega(at)kaluz.com
Ton Bruijne
Investor Relations
Telephone: +31 38 429 4357
E-mail: InvestorRelations(at)wavin.com
About Mexichem
Mexichem is a leader in plastic pipe systems and in the chemical and
petrochemical industry in Latin America, with more than 50 years of experience
in the region and 33 years on the Mexican Stock Exchange with a market
capitalisation of approximately EUR 5.0 billion(1). Mexichem, which exports to
more than 50 countries, and has presence in Latin America, North America, Europe
and Asia, has an annual turnover of approximately EUR 2.8 billion(2) and EBITDA
of approximately EUR 594 million(2). With more than 10,000 employees throughout
virtually the entire American continent, UK and Japan, the company has the
largest fluorspar mine in the world and is the only fully integrated coolant gas
producer in America. It is also the largest producer of PVC resin in Latin
America and contributes actively to the development of the countries through
products that have a wide market in the most dynamic growth sectors including
construction, housing, drinking water, and urban sewage in Mexico, the United
States, UK, Japan and Latin America. More details about Mexichem can be found at
www.mexichem.com.
About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe.
The company provides essentials: plastic pipe systems and solutions for tap
water, surface heating and cooling, soil and waste, rain- and storm water,
distribution of drinking water and gas and telecom applications. Wavin is
headquartered in Zwolle (The Netherlands) and has a presence in 25 European
countries. The company employs approximately 6,000 people and reported revenue
of approximately EUR 1.3 billion for 2011. Outside Europe, it has a global
network of agents, licensees and distributors. More details about Wavin can be
found at www.wavin.com.
(1 )Based on market data from FactSet as at 1 June 2012. MXN:EUR
exchange rate of 17.60.
(2) Unaudited financials based on Mexichem full year 2011 results
announced on 21 February 2012. MXN:EUR average exchange rate during 2011 of
17.29 from FactSet.
Please click here to view the release in PDF format:
http://hugin.info/143050/R/1626563/520472.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wavin N.V. via Thomson Reuters ONE
[HUG#1626563]
Unternehmensinformation / Kurzprofil:
Datum: 13.07.2012 - 13:49 Uhr
Sprache: Deutsch
News-ID 165126
Anzahl Zeichen: 5045
contact information:
Town:
AD ZWOLLE
Kategorie:
Business News
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