Cavotec holds capital base

Industry Database

Plans to raise significant capital have been put on hold by Cavotec partially due to the NASDAQ OMX Stockholm-listing firm having a “very strong balance sheet” and recently signing a €80m ($110m) Credit Facility agreement.

Cavotec chairman Stefan Widegren said as the firm is continuing to deliver “exceptional results” while the underlying uncertainty in financial markets remains, opting for a capital increase at this point was considered to “give a wrong signal to our investors as well as the market in general”.

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