Metal production firm’s $300 million funding boost

0
Have your say

London & Scandinavian Metallurgical is targeting expansion after securing a $300 million, five year funding package through HSBC’s Sheffield-based Yorkshire and North East Corporate Banking Team.

The Rotherham-based international business, which is part of the Dutch AMG group, has production facilities in Brazil, China and Poland, as well as the UK, and can trace its history back almost 75 years.

It specialises in supplying high specification metals and alloys to a range of industries that includes steel and aluminium producers, the automotive and aerospace industries, the paints and pigments sector and powder metallurgy businesses.

HSBC acted as mandated lead arranger to help London & Scandinavian to secure a $100 million (£61 million) term loan and a $200 million (£122 million) revolving credit facility.

Mark Ashworth, HSBC’s senior global relationship manager in Yorkshire and the North East, said: “South Yorkshire continues to attract the world’s leading metals businesses.

“We are delighted to be supporting a global leader in developing their business both at home and internationally as they seek to expand.

“We would urge other businesses to consider how they can build on the skills and intellectual property based in the UK to pursue growth by trading overseas.”