PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Voith GmbH

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Voith to Sign First Financing Deal Directly in China - Voith Holding - 2.25 billion renminbi for further growth in Asia -
Voith to Sign First Financing Deal Directly in China


NewswireToday - /newswire/ - Shanghai, China, 2012/02/14 - Voith Holding - 2.25 billion renminbi for further growth in Asia - FSE: VO2A

Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


• First syndicated loan in local currency - Banking consortium to provide facility of RMB 2.25 billion with a maturity of five years;
• Plans for further investment to expand position in Chinese market;
• Voith CEO Dr. Hubert Lienhard: "Full exploitation of growth potential by establishing local footprint".

The Voith Group anticipates that its strong course for growth in the Chinese market is set to continue for the next few years. In order to further intensify its local footprint in China, the globally active family-owned company has, for the first time, sealed a financing deal directly in the country. With a consortium of international and local banks Voith has agreed on a syndicated loan facility with a volume of RMB 2.25 billion (approx. EUR 270 million) and a maturity of five years.

The sole coordinator is Citibank (China) in cooperation with the Group-owned Voith Finance GmbH. Among the selected circle of core banks to accompany the further growth of Voith in China within the framework of the agreed loan facility are Commerzbank and HSBC as further mandated lead arrangers, as well as ANZ, Industrial and Commercial Bank of China (ICBC) and Standard Chartered Bank as original lenders.

For Voith, the successfully concluded transaction represents the Group's first financing deal in the local Chinese market. "Against the background of a difficult environment we were able to secure a flexible, long-term liquidity cushion at an early stage, and, at the same time, purposefully widen the circle of banks with which we cooperate. The agreement underlines the excellent reputation Voith enjoys in the banking world as a reliable address, concentrating on relation-ship driven, long-term oriented partnerships", said Voith CFO Dr. Hermann Jung. At the same time, today's deal highlights the growing importance of China for the future development of the company.

Plans for High Investment and Increased Employment in China
Over the next few years, Voith envisages investments amounting to approximately EUR 400 million in China, which are to be financed largely by the new line of credit. The plans include the further expansion of Voith Paper City in Kunshan near Shanghai. Against the background of the five-year plan of the Chinese government released in March 2011, in which subjects such as renewable energies, resource protection and mobility play an important role, Voith sees excellent opportunities for its core markets energy, raw materials as well as transport & automotive and paper. As part of the growth initiative, the number of employees of Voith in China will increase from currently just under 3,000 to approximately 5,000 by 2016.

"The growth potential for Voith in China is excellent. But we will only be able to exploit this potential to the full, if we produce higher and higher proportions of what the Chinese market needs in the country itself - tailor-made for local requirements, developed by local engineers and experts", explains Lienhard. "By doing so, we intend - in the medium term - to become rooted in China and in our other important overseas markets as solidly as we are in Germany today. We want to be seen and accepted as a German-owned national company. In return, we will be able to secure the long-term sustainable and profitable growth of the Group, also in the interest of our strong home base in Germany," states Lienhard.

Voith ( sets standards in the markets energy, oil & gas, paper, raw materials and transportation & automotive. Founded in 1867, Voith employs almost 40,000 people, generates € 5.6 billion in sales, operates in about 50 countries around the world and is today one of the biggest family-owned companies in Europe.

Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Written by / Agency / Source: Voith GmbH


Availability: All Regions (Including Int'l)


Traffic Booster: [/] Quick Newswire Today Visibility Checker


Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

# # #
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!

Voith to Sign First Financing Deal Directly in China

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Voith AG |
Publisher Contact: Markus Woehl - 
+49(0) 7321 37 2219 markus.woehl[.]
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Voith GmbH securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Read Latest Articles From Voith GmbH / Company Profile

Read Manufacturing/Robotics Most Recent Related Newswires:

Voith Receives Order to Rebuild LEIPA PM11
SCHOTT Upgrades Kitchen Color Palette with 3 New Colors in CERAN CLEARTRANS Portfolio
SCHOTT Glass Tubing Enables Advancements in Algae Production and Wastewater Cleaning
Tec-Ease, Inc. Announces Two New Products - Print Reading Computer Based Training
LANXESS Introduces Truck Air Filter Carriers Made of Highly Reinforced Polyamide 66
SCHOTT to Launch New Ultra-thin High Strength Glass for Use in Consumer Electronics
Voith SmartServices Optimize Vehicle Use and Maintenance of Buses
ITT Compact Automation and Turn-Act Brands Introduce New Air Spring Product Line for Demanding Industrial Applications
LANXESS Offers New Polyamides and Polyesters for Welded Components
Dunn-Edwards Paints Names 'Honey Glow' Color of the Year for 2017
IEWC Announces Addition of C2G to Broadcast & AV Catalog
ITT's Cannon Brand to Introduce Next-generation, Ultra-fast Electric Vehicle Charging Solutions At eCarTec 2016
Rockwell Automation Launches New Industrial Security Appliance
3D Simulation Brings the Acoustic Effects of Basotect® Sound Absorption to Life
New EDRMAX by Nexans™ Cable Ensures Faster and Easier Grid Connections for Renewables

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business



Visit  Demyk Lightmod Products, Inc.

  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (