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Johannesburg - A financial transaction to the value of R1bn between AECI and Nedbank Corporate Banking will boost AECI's delivery of value-adding solutions to mining and manufacturing industries in South Africa, southern Africa and selected international markets.
It is a three-year loan.
According to Mark Kathan, AECI's chief financial officer, the group recently concluded a R2bn strategic capital investment programme to enhance its future growth in the mining and manufacturing industries, with particular emphasis on mining chemicals.
"This transaction will definitely assist in achieving our objectives to provide the required level of technology and service advancement in these sectors," said Kathan.
"Science and technology are a key component in the development and progress of any economy and as a financial services provider we are pleased to play a role, through this transaction with AECI, in making a meaningful contribution in these areas," said Graeme Auret, managing executive of Nedbank Corporate Banking.
By placing an emphasis on understanding client needs and providing flexible solutions, Nedbank Corporate Banking has been the biggest term funder to AECI since 2008.
It is a three-year loan.
According to Mark Kathan, AECI's chief financial officer, the group recently concluded a R2bn strategic capital investment programme to enhance its future growth in the mining and manufacturing industries, with particular emphasis on mining chemicals.
"This transaction will definitely assist in achieving our objectives to provide the required level of technology and service advancement in these sectors," said Kathan.
"Science and technology are a key component in the development and progress of any economy and as a financial services provider we are pleased to play a role, through this transaction with AECI, in making a meaningful contribution in these areas," said Graeme Auret, managing executive of Nedbank Corporate Banking.
By placing an emphasis on understanding client needs and providing flexible solutions, Nedbank Corporate Banking has been the biggest term funder to AECI since 2008.
