Royal Duyvis Wiener reaches agreement on refinancing
Royal Duyvis Wiener has just announced that the company has reached an agreement on refinancing. This refinancing agreement is the result of a period of restructuring by the bank and shareholders, initiated under the current CEO Theo Pouw and CFO Mark van den Burg. In order to emphasise their involvement and confidence in the future, the board members have become shareholders in the company.
In recent years, the company has worked hard to restore its solvency and achieve healthy, profitable operations. The years of financial losses are left behind and a profit is expected for 2020. Due to Royal Duyvis Wiener's impressive financial recovery, their house bank has agreed to accept a subordinated loan. Royal Duyvis Wiener's creditworthiness will increase as a result of the realisation of subordinated capital.
In addition to the refinancing, new capital is also flowing into the company as a result of the change in the shareholder structure. These funds can be used to realise investments for the company.
The refinancing of Royal Duyvis Wiener puts a definitive end to a difficult period in which a number of large-scale projects resulted in a lower credit value for the company.
“The assignment to make Royal Duyvis Wiener solvent again was a difficult one, because the company was operating at a loss. Thanks to the efforts of all employees, the company has overcome a challenging period in its long history. It's amazing how this wonderful company has withstood this ordeal,” says CEO Theo Pouw.
“The restructuring has secured the employment of many of our professionals. In addition, there is now a solid financial basis on which we can build. I am particularly proud that we have eliminated losses in a relatively short period of time without any forced redundancies. That says a lot about the financial agility of this company,” adds CFO Mark van den Burg.