Componenta expands aluminium business segment with new foundry in Turkey

MachinesNewsSouth-East European INDUSTRIAL Мarket - issue 3/2015

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Componenta Dokumculuk A.S. has received EUR 300 million financing and has started construction of a new aluminium foundry in Manisa, Turkey. This will be an addition the existing production plants located in Finland, Turkey, the Netherlands and Sweden. The credit facility agreement consists of an investment loan of EUR 20 million and revolving credit facility of EUR 10 million that will lengthen the average maturity of the interest bearing debt portfolio of the casting solutions provider.

The company has seen significant growth in its aluminium business segment and has signed a contract to sell complex aluminium components worth more than EUR 100 million to European markets till the end of 2025, as well as several other aluminium component contracts worth smaller amounts. The construction of the aluminium foundry in Manisa is another step the company undertakes to grow this business segment.

Componenta plans to fully utilize its new aluminium foundry by 2020 and further strengthen its financial position with the long-term financing. During the first phase of the investment - the period of 2015-2017 - Componenta will invest in property, machinery and equipment worth EUR 25 million.

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