World News: 16:45 GMT Wednesday 12th June 2019. [TOUAX via Globe Newswire via SPi World News]
PRESS RELEASE Paris, 12 June 2019 - 5:45 p.m.
Touax achieves a decisive step towards its strategic development with the agreement on a new loan at Touax SCA level.
This €40m senior secured loan is expected to be finalised by mid-July, subject to the usual terms and conditions for this type of deal.
The funds will go towards the Group’s growth and profitability strategy:
The Group launched a strategic refocusing plan in late 2017, centred on its three core businesses in the transport equipment leasing sector. In 2018, we completed the initial phases of our action plan aimed at boosting profitability, including the instigation of a continuous improvement programme, a new organisation for the Freight Railcar activity, the signature of further investment commitments of $80m from an infrastructure fund and asset refinancing for €110 million, and a Euro Private Placement of €16.6 million.
We are forging ahead on this strategic path in 2019, notably making gradual investments in the Containers division and implementing new organisational structure in the Freight Railcars division to increase the availability of existing railcars in today’s buoyant market environment.
TOUAX Group leases out tangible assets (freight railcars, river barges and containers) on a daily basis worldwide, both on its own account and for investors. With nearly €1.2bn in assets under management, TOUAX is one of the leading European players in the leasing of such equipment.
TOUAX is listed on the EURONEXT stock market in Paris - Euronext Paris Compartment C (ISIN code: FR0000033003) - and is listed on the CAC® Small, CAC® Mid & Small and EnterNext©PEA-PME 150 indices.
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Globe Newswire: 16:45 GMT Wednesday 12th June 2019
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