France – French recycling major Recylex has finalised a ‘¬67 million financing package with a consortium of German banks for its German subsidiaries. The package includes a ‘¬40 million investment in a new reduction furnace.
Yves Roche, chairman and chief executive officer of the Recylex Group comments: ‘The closing of the financing agreements in Germany represents a major step forward in our strategy to put the lead segment’s business model on a sustainable footing.’
According to Roche, the new furnace is to improve the company’s profitability in the lead segment and across the group as a whole. ‘In addition, it will give us greater flexibility on the procurement front, enabling us to source materials producing higher margins’, he stresses.
Recylex has also renewed its equity line financing in France thanks to which the company restores its financial flexibility. ‘In particular, it will support the current favourable trend of scrap battery purchases’, states Roche.