The financing includes 15 million Euro in credit lines and 2 million Euro to renew bank guarantees as well as 50 million Euro in investment spending projected by the group's German subsidiaries.
Of this amount, 40 million Euro will be devoted to the new reduction furnace at Weser-Metall GmbH. Its purpose is to recover internally the lead and silver contained in vertain by-products from the smelter. To date, these are sold to third parties for recovery.
The reduction furnace is the first of its kind in Europe and is expected to create 30 new jobs at Weser-Metall GmbH. It should also increase the group's annual lead production by at least 30.000 tonnes. Construction work ist due to begin in the first quarter of 2017, and the objective is to begin operational testing during the first half of 2018, ahead of a ramp-up process.
