KBA Extends Credit Lines with German Banking Pool Until End of 2015

All of the banks participating in the German pool so far with Unicredit as leader of the consortium, plus Bayern LB, Commerzbank and Deutsche Bank, have confirmed their involvement. KBA sees this commitment as an expression of trust in the sustainable future development of KBA’s line of business based on several pillars in traditional sheetfed and web offset markets and future-oriented growth segments such as digital, metal-decorating, security, coding and packaging. Thanks to healthy free cash flow from operating activities, backed by consequent cash management, over the past years Koenig & Bauer rarely made use of the existing credit lines for cash use, even at the height of the financial crisis. However, credit lines were used for guarantees, which are common practice in the project business, e.g. for prepayments.