Strix Group has agreed a \u00a360m credit facility with RBS and the Bank of China that will provide additional headroom during the continued uncertainty.<\/p>\n
The Isle of Man group, which makes kettle safety controls, has refinanced its debt facilities that strengthens its medium-term position.<\/p>\n
The AIM-listed business says it has been able to “limit the impact” of the pandemic on its full-year forecasts and its development plans remain on schedule.<\/p>\n
Construction of a factory in China is “on budget and on schedule” to be fully operational by August 2021.<\/p>\n
Chief executive Mark Bartlett said Strix “has continued to make significant strides in its product development roadmap” and remains on target to release 14 new products this year.<\/p>\n
“I’m pleased to report that Strix has continued to make a solid start to 2020, given the global macroeconomic disruption caused by the COVID-19 pandemic and the continued uncertainty,” Bartlett will tell the group’s AGM this morning.<\/p>\n
“Despite the impact on the global economy, we remain confident in the future prospects of the Company and following the implementation of efficiency measures and strategic initiatives will emerge as a stronger business well-positioned for a market recovery.”<\/p>\n","protected":false},"excerpt":{"rendered":"
New factory in China and product rollout plans remain on schedule<\/p>\n","protected":false},"author":18,"featured_media":2060643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"coauthors":[81],"class_list":["post-2060642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-featured-story"],"yoast_head":"\n