NFT completes refinancing deal

Alfreton, Derbyshire, UK: NFT has completed a five-year refinancing deal worth £31.6m, following another set of positive results in 2012.

The company, which announced a turnover of £152.4m in year end 2012, (an 8% increase versus year end 2011) has also seen profit after tax growth of 55% to £2.0m.

The five-year refinancing package replaces existing banking arrangements that came to an end in June 2012. In the deal, HSBC Bank provided total facilities of £31.6m which includes £21.6m of term and property loans and £10m of working capital facilities. The refinancing has enabled the NFT Group to better align its banking facilities with the future growth strategy of the business and its investors.

Steve Dennison, financial director at NFT, says: “The banking environment is still very challenging and the deal is a demonstration of the excellent and robust financial performance of the group over the last few years. It is testament to the strength of the NFT business that HSBC has chosen to partner with NFT in the next stage of our growth story.

The refinancing provides us with the certainty of financial resources to enable further investment and growth at NFT. This in turn will ensure we can continue to provide unrivalled supply chain solutions to all our customers.”

WORLD NEWS

D-Farm wins the Innovation in Perishable Logistics Award

Rotterdam, Netherlands: D-Farm has won the 2nd Cool Logistics Innovation in Perishable Logistics Award for its innovative use of information technology to boost agricultural production. …

READ THE FULL STORY >

Global coldstore capacity grows 16.7% in 2 years

Arlington, Virginia, USA: Worldwide refrigerated warehouse capacity worldwide was 719m cubic meters in 2020, up 16.7% on 2018, according to a report by the Global …

READ THE FULL STORY >

Carrier and Amazon collaborate on digital platform

Palm Beach Gardens, Florid, USA: Amazon Web Services has worked with Carrier on its new Lynx digital platform. The Lynx platform combines Amazon’s analytics and …

READ THE FULL STORY >

Schmitz Cargobull takes trailer innovation prize

Berlin, Germany: Schmitz Cargobull’s SKO trailer with generator axle and SCUe fridge has won the German Trailer Innovation award made by 16 German transport magazines. …

READ THE FULL STORY >

WHAT’S ON

  • Cold Chain Insight
    Cold Chain Insight into Energy, 16-20 November – the first of the new virtual insight series

Latest Tweets

Americold to buy Agro Merchants to expand European operations: bit.ly/3jY5ZTD

© 2020 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ