Agreement signed with banks.
Presentation of new strategic plan envisaged for mid-February
Campodarsego (Padua), 29 December 2015 – The agreement between the Carraro Group and its banks for restructuring of the 260 million Euro debt takes effect as of today.
This agreement is based on the new strategic plan that the company will present to the financial community in mid-February. Among the fundamental elements of the Plan is an increase in orders based on commercial agreements already signed with major customers, starting with the most recent news of the agreement, worth 20 million Euros, signed in December with John Deere, world leader in agricultural mechanisation.
The new Strategic Plan is based on an overall increase in revenues in the period 2016-2019 of more than 100 million Euros, a strong focus on cost reduction and a financial rationalisation programme.
This disclosure is issued at the request of the supervisory authority.