New financing package for NovaCast Technologies AB ready - 24 MSEK to overcome the 2009 downturn in business cycle

New financing package for NovaCast Technologies AB ready  -  24 MSEK to overcome
the 2009 downturn in business cycle

As one of several measures during the temporary downturn in the business cycle
NovaCast Technologies AB has reached a new financing agreement with its two
banks, as well as with ALMI Skåne. The new credit scope, which was decided
today, is 24 MSEK, of which 12 MSEK from the banks and 12 MSEK ALMI Skåne. 

“As we mentioned in our year-end report, we immediately withdrew our application
for a state rescue loan when we became aware of the final conditions. Relations
with our banks are and always have been good and the banks have full insight
into our business activities. We could therefore, together with ALMI Skåne, put
together a financing solution with slightly longer duration and reasonably low
interest, under 4,5%”, says NovaCast Technologies' CEO, Hans Svensson in a
comment to the loan.    


For further information contact Hans Svensson, CEO NovaCast Technologies AB, +46
457 386 302 or +46 705 652 250.

More information is also available on www.novacast.se.


NovaCast Technologies, listed on the OMX Nordic Exchange (NCAS B), develops and
markets enhanced castings for the production of car body parts, as well as
software for methoding, simulating and process control for more efficient
production processes to the global automotive industry and its subcontractors.
With the Camito technology enhanced castings are manufactured in one solid piece
for the production of dies for forming   stamping automotive body components in
a considerably shorter time than traditional dies. Through die manufacturer
SwePart the group has expertise within the whole value chain for the production
and sales of stamping dies.