Brief: Axactor Extends Forward Flow Agreement With Client In Norway

Axactor ASA

08/06/2020 08:40

June 8 (Reuters) - Axactor SE  AXAC.OL :
    * AXACTOR EXTENDS FORWARD FLOW AGREEMENT WITH CLIENT IN
NORWAY
    * HAS EXTENDED AN EXISTING FORWARD FLOW AGREEMENT IN NORWAY,
INCREASING CONTRACT LENGTH BY NINE MONTHS
    * NEW CONTRACT PERIOD WILL RUN UNTIL MARCH 2022, WITH ANNUAL
PRINCIPAL VOLUME EXPECTED TO BE CLOSE TO 70 MEUR ACROSS 2.750
CLAIMS
    * CONTRACT WILL CHANGE TO INCLUDE AN ELEMENT OF 3PC, WHICH
WILL
HAVE ADDED BENEFIT OF LOWERING EXPECTED CAPEX BY OVER 20 MEUR IN
2020
    * THIS INVESTMENT WILL BE FINANCED BY AXACTOR'S AVAILABLE
CASH AND
OUR EXISTING CREDIT FACILITIES.
    * TOTAL CAPEX FOR CONTRACT WILL HOWEVER BE INCREASED BY
APPROXIMATELY 30 MEUR IN 2021 AND 2022

Source text for Eikon:  ID:nObikbCwBa 
Further company coverage:  AXAC.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))