Suominen arranges a new syndicated credit facility
Tampere, 2011-06-28 14:00 CEST (GLOBE NEWSWIRE) --
SUOMINEN CORPORATION STOCK EXCHANGE RELEASE 28 JUNE 2011 AT 3 P.M.
Suominen arranges a new syndicated credit facility
Suominen has restructured its EUR 44 million syndicated credit facility by extending the maturity of the financing. Under the amended credit terms the repayment of EUR 15 million due at the end of June has been prolonged to take place in three quarterly payments beginning in January 2012.
Suominen aims to improve its balance sheet position by reducing debt with financial institutions. For that reason, the credit terms include a provision stating that Suominen aims to seek capital market financing in the course of 2011. The company strives to further improve its balance sheet position through the divestment of non-key assets and business operations.
Tampere, 28 June 2011
SUOMINEN CORPORATION
Petri Rolig
President and CEO
For additional information, please contact
Mr. Petri Rolig, President and CEO, tel. +358 (0)10 214 300
Mr. Arto Kiiskinen, Vice President and CFO, tel. +358 (0)10 214 300
Suominen produces high-quality flexible packaging, wet wipes and nonwovens for industry and the retail sector. The Group is one of Europe’s leading manufacturers in all its business areas, with operations in Finland, Poland, the Netherlands, Sweden and Russia. The Group had net sales of EUR 173 million in 2010 and it employs around 900 people. Suominen is listed on NASDAQ OMX Helsinki. www.suominen.fi
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