Retech secures $10M loan to expand US metal powder production
What's the deal? Retech SystemsDealroom has a profile for this one. Try Dealroom →, the US arm of Poland's SECO/WARWICK Group, has secured a $10 million long-term loan from the Foreign Expansion Fund 2 FIZ AN, managed by PFR TFIDealroom has a profile for this one. Try Dealroom →. The debt financing closed with a ceremony at Retech's Buffalo headquarters, attended by representatives of PFR TFI, the Embassy of the Republic of Poland in Washington, D.C., and the US Congress.
What's the endgame? Retech, part of SECO/WARWICK since 2007, provides advanced solutions for metallurgy and special processing technologies. The funds will develop metal powder production technology — including the design and installation of Plasma Gas Atomizer furnaces — and expand Retech's manufacturing and assembly hall.
Why now? The loan supports SECO/WARWICK's push to grow in the US, which it calls one of the world's most important technology markets. Retech serves demanding sectors including aerospace, defence, energy, medical technology, and specialty materials production.
"This project is strategically important for Retech. It enables us to expand our technological capabilities, develop our laboratory resources, and respond even more effectively to the needs of customers operating in the most demanding industries," said Earl Good, managing director of Retech.
The signal: The financing marks a case of Polish capital backing industrial expansion in the US. As SECO/WARWICK chief executive officer Sławomir Woźniak framed it, the deal is "an important step in strengthening our presence in the United States" and proof that the group's ambitions "truly have global reach."
Read more: fineeng.eu
Image credit: Clint__Budd
