Extension of financing with Swiss Bank Consortium
After a successful turnaround and solid financial results in the last year, SR Technics started the first quarter of 2023 strongly with results ahead of expectations and could now extend the financing to support its growth strategy.
SR Technics has agreed with the current Swiss bank consortium to extend the existing revolving credit facility of CHFm 255 until end of 2026. Additional Swiss banks have joined the consortium and the Swiss Confederation has been released from the surety they provided in connection with the unprecedented pandemic.
This financing provides the necessary liquidity to capture the planned SR Technics growth strategy with the investment in the new engine platforms GTF and LEAP in addition to the existing CFM and PW4000 business.
“Our goal is to double business by 2028. At the Swiss engine centre SR Technics is currently investing in new people – the plan is to hire 400 to 500 new people within the next couple of years, as well as investing in infrastructure like our new test cell and further in tooling and shopfloor for the new engine platforms”, says Matthias Düllmann, CEO of SR Technics.
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