Executing an IBR for an international production and sales company in rolled titanium zinc.
The activities of this company consist mainly of the production and sale of rolled titanium zinc for roofing, facade cladding and rainwater drainage. There are sales offices in the Netherlands, Belgium, Germany and recently France. Following the fierce overcapacity in this market, the company had made significant losses in recent years: In 2017, it recorded a net loss of €2.8m with a turnover of €76m. In 2018, a net loss of €6.6m was incurred on a turnover of €76m, and the latest estimate for 2019 was a net loss of €5.3m with a turnover of €73m. Nevertheless, the shareholders saw potential in the market and have shown their commitment. It was decided to invest in a new production facility with modern production lines in order to create sufficient economies of scale and increase production efficiency. At the same time, efforts are being made to further roll out the sales capacity, for example by starting up/expanding a sales team for France, which, like Germany, is regarded as an important market. Based on the developed restructuring plans, the bank was wiling to continue the facilities and provide an additional lease facility on the new production machines.
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