01.07.2005

Haulotte backlog up 65%

Pinguely-Haulotte has appointed BNP Paribas and Natexis Banques Populaires to arrange a syndicated credit facility of €330 Million over 7 years.

The two lead managers have fully underwritten the facility which was launched yesterday, June 30, 2005

The new credit line is intended to provide Pinguely-Haulotte with the working capital for capital expenditure and to continue the development of its sales and in preparation to seize any opportunities for external growth which might occur.

Outlook for full year

Haulotte has reported an increase in its backlog, to the end of May, of more than 65 percent compared to the same period in 2004. The company says that this reflects a strong market recovery, based on which it has upgraded its 2005 forecast for revenue and profits growth to 20 to 30 percent.

Haulotte will release its first half interim results on July 21.