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Polytec Reduced Net Financial Debt by more than 50%

Industrials › Automotive ♦ Published: January 21, 2011; 00:18 ♦ (Vindobona)

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The Austrian component supplier closed an agreement about the repayment of the restructuring loan and records a strong increase in profitability in 2010.

Polytec Reduced Net Financial Debt by more than 50% / Picture: © Polytec

Polytec Holding AG informs about the total repayment of the restructuring loan of € 31m. The shares assigned as collateral (3,572.734 shares, this equals 16% of the share capital of POLYTEC HOLDING AG) thus will be retransferred to the founder and CEO, Friedrich Huemer, respectively to Huemer Holding Gmbh. After the retransfer of shares to the CEO Friedrich Huemer, he again holds more…