MAXAM
MAXAM signs a 450 million euro syndicated loan in order to reinforce its growth
2014.07.29
Press room - News - MAXAM signs a 450 million euro syndicated loan in order to reinforce its growth
BBVA, Banco Santander, Bankia, Barclays and HSBC have coordinated the operation, in which a total of 16 banks (eight Spanish and eight foreign entities) have participated.
MAXAM, a leading manufacturer of civil explosives and provider of services for the mining, quarrying and construction industries, has signed a 450 million euro syndicated loan, accounting for the virtual equivalent of the Company’s total liabilities. With this operation, MAXAM will increase the productivity of its business in the mature markets in which it operates, while taking advantage of growth opportunities in regions such as South America, West Africa, Central Asia and Australia.
The syndicated loan has been coordinated with BBVA, Banco Santander, Bankia, Barclays and HSBC, reinforcing their commitment and confidence in the Company, which has maintained steady growth in recent years despite the effects of the economic crisis around the world, and especially in Spain and Europe; simultaneously, the Company has met the solvency ratios established by previously subscribed credits.
Financial institutions, likewise, have confirmed their interest in MAXAM’s global presence (with operations underway in over 45 countries), the Company's leadership in the markets in which it operates, and the wide and diversified client base with which the Company maintains a strong and lasting long-term relationship.
In underwriting the loan, the banks have also valued MAXAM’s strong technological component (as well as the way in which it has based its business on proprietary technology and know how), and the commitment and daily engagement displayed by MAXAM’s management and technical team, which makes up the Company’s main shareholder of with 55% of the syndicated capital controlled by its Chairman & CEO, José F. Sánchez-Junco. The remainder of the capital is held by Advent International, which possesses a 45% share.
Solid results
MAXAM is an industrial group and service provider, with around 6,000 employees and facilities spread across 45 countries, distributing and marketing its products in more than 100 countries and five continents.
During the past fiscal year, which concluded on the 31st of March, MAXAM generated an EBITDA of 132 million euros, representing a 13% increase over the previous year, while its revenue grew 1%, reaching 1,100 million euros, 90% of which was generated through the Company’s international operations.
MAXAM began its internationalization in the early 2000’s, establishing itself in emerging areas including Russia, West Africa, Central Asia and Latin America which, together with its presence in North America and Australia, have allowed it to become the second most important company in its sector in terms of global operations (and the third largest in terms of revenues). This expansion will continue with the launch of its initiation systems project in China.
MAXAM – www.maxam.net
MAXAM is a service and industrial group that operates on a global scale by developing, manufacturing and commercializing civil explosives and initiation systems for mining, quarries and construction; cartridges, shotgun shells and smokeless powder for hunting and sports use; and products for the defense industry. Additionally, MAXAM is a supplier of key raw materials for nitro chemical activity, generated for the company’s own internal needs as well as for sales to third parties. Finally, as a result of its drive towards innovative, sustainable development, MAXAM offers its clients a wide variety of solutions in the fields of safety and environmental conservation.
Founded by Alfred Nobel in 1872, MAXAM concluded 2013 with a yearly turnover of approximately 1.1 billion euros. It is present in all of the world’s major mining areas, with production sites in over 45 countries, an active market presence in more than 100 others, and nearly 6000 employees spread across five continents.
Further information:
Lucas Ferreira
MAXAM
Communications Director
91 722 01 00
lferreira@maxam.net
