30 December 2009
On December 22, 2009, Perstorp’s controlling shareholder PAI partners participated in a EUR 112m capital increase in the Perstorp Group, enabling to significantly strengthen its financial profile. At the same time Perstorp and its lenders have agreed on amending the financing conditions of Perstorp, adapting them to the current and expected business development with increased flexibility.
With an improved capital structure Perstorp is ideally positioned to seize additional growth opportunities in the business cycle recovery. This solidified capital structure will also enable Perstorp to focus on creating value for all stakeholders - customers, suppliers, employees and shareholders.
Martin Lundin, CEO and President of Perstorp, comments:
“Perstorp’s business model has proven successful over the past years, in particular following the decisive measures implemented at the start of the economic downturn. With our leadership positions in key products and our track record in innovation and new product development, Perstorp is ideally positioned to emerge a stronger company as the business climate recovers. Perstorp has experienced a steady increase in business activity since March 2009”.
Lennart Holm, partner at PAI partners and Vice Chairman of Perstorp’s Board of Directors states:
“We are pleased to have reached a shared and constructive solution with lenders to strengthen Perstorp. PAI’s tradition is to support the development of its portfolio companies. Perstorp has proven its ability to manage a severe business climate and we are keen to continue developing Perstorp further for the benefit of all stakeholders”.
Perstorp’s full year report for 2009 is scheduled to be published in February 2010.