Feintool secures further financial resources
Feintool has increased the loan agreement with its six principal banks in Switzerland and Germany. The contract, signed on June 29, runs until summer 2023 and ensures operational flexibility in a challenging environment.
CEO Knut Zimmer on the positive conclusion of the contract: “The consequences of the Covid-19 pandemic with several weeks of plant shutdowns at our most important customers have a significant impact on our business, to which we are responding with cost adjustments, among others. By signing this contract, we provide for the coming period and secure ourselves financially. We are convinced that with these measures we have laid the base in all regions to quickly and flexibly exploit opportunities arising from the successive recovery.”