FEUER powertrain GmbH und Co. KG
“The foundations have been laid for internationalisation”
From classic 4-cylinders up to large ship engines: FEUER powertrain GmbH und Co. KG will not produce crankshafts for the engines of BMW, VW, Ford and co. only in Nordhausen in Thuringia in future. With the help of an extensive financing package, the company opened its first foreign production location at the start of 2015. Up to 300,000 crankshafts a year will be produced in Tunica, Mississippi in the USA.
The complex financing for this project was carried out under the lead management of Commerzbank with additional partners. Direct consortium partners and refinancing providers had to be found for the largest volume.
Commerzbank has for the first time succeeded in gaining the Kreditanstalt für Wiederaufbau (KfW) as a direct consortium partner and refinancing provider, through which the company profits from low interest rates. This refinancing is done on the basis of a variable reference interest rate.
The most important pillar of the financing is a consortium loan with a total volume of 126 million euros. Added to this is a borrowing base financing and an overall financing package by including the Pricoa Capital Group. These replaced bilateral loans with a private placement of 20 million euros.
“With these transactions we have laid the foundations for a first step in internationalisation and have sustainably set our financing structure for further national and international growth,” sums up Wönnmann, Managing Director of FEUER powertrain.