Provaluta Recycling SE
Recyc Commodities SE : Provaluta Metallrecycling GmbH arranges credit line of EUR 2.7 million
Recyc Commodities SE / Key word(s): Miscellaneous 22.03.2012 / 18:03 --------------------------------------------------------------------- Karlsruhe, March 22, 2012 - The Provaluta Metallrecycling GmbH; a 100 % subsidiary of the Provaluta AG (which is 83 % owned by Recyc Commodities SE), announced today that they have arranged a revolving credit facility for EUR 2.7 million with a large, renowned German bank. The agreement allows for an overdraft facility, and money market loans up to EUR 1 million, and can also be used for bank guarantees and import letter of credits. The credit facility is collateralized by the company's metal reserves. Recyc Commodities SE's Managing Director, Paul Bosmediano, was extremely pleased with the successful outcome of the negotiated credit arrangement. 'In light of the current stringent regulatory capital requirements associated with Basel 3, the agreement reflects a great show of trust in our business model on the part of a major German financial institute. This credit facility will aid us in the further expansion of our business activities. We can continue on our successful path of growth knowing that we are well equipped for the future with this flexible, immediately available liquidity buffer', said Paul Bosmediano happily. About Provaluta Metallrecycling GmbH The Karlsruhe, Germany, based company extracts valuable raw materials such as Lead, Platinum, Rhodium and Palladium out of scrap metal. Provaluta Metallrecycling GmbH possesses a modern laboratory with the technology enabling it to predetermine the existing elements and their amounts in each catalytic converter, prior to its recycling. Overall, approximately 20 people are involved in the ambitious project 'Save resources by efficient recycling of metal'; from the purchase, the analysis, the certified processing, the storage, through to the distribution. About Recyc Commodities SE The Recyc Commodities SE finances potential high growth companies in the recycling industry, in their early and expansion phases. The financial holdings are concentrated on innovative firms situated for the most part in Germany. Recyc Commodities invests in partnerships as well as in exchange listed corporations. In exceptional cases, Recyc Commodities is also prepared to take over the management functions for certain specially picked companies and/or service providers in the recycling- and raw materials business. Further information about Recyc Commodities SE can be found in the internet under http://recyc.info/ Recyc Commodities SE Herrenstraße 9 76133 Karlsruhe Germany T.: +49 (0)721 94 880 0 F.: +49 (0)721 94 88011 E.: recyc@recyc.info End of Corporate News --------------------------------------------------------------------- 22.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 161905 22.03.2012
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