Haulotte secures €96 million loan
By Euan Youdale06 July 2022
Haulotte has announced that it has secured a € 96 million French state guaranteed loan.
Faced with several months of persistent difficulties in the procurement of components and major disruptions in the supply chain, resulting from the ongoing health crisis and the Ukrainian conflict, combined with a booming global aerial platform market, Haulotte approached several lenders for the loan.
Combined with this syndicated loan, the French manufacturer also approached government agency BPI France to secure the State Guaranteed Loan of € 96 million.
“The purpose of this loan is to allow Haulotte to maintain all its agility, to face the many hazards and uncertainties the group is confronted with and could confront in the future,” said the manufacturer.
The loan, obtained 28 June, will be 90% guaranteed by the French State, with a maturity of one year, and an option to extend it for up to five additional years to June 2028.
Alexandre Saubot, CEO of Haulotte Group, siad, “This financing will allow the group to secure its cash position in order to face an operational context that remains complicated, while retaining the ability to seize current and future opportunities in a dynamic market.”