Raba Futomu Kft, the flagship of Hungarian axle maker Raba group, has signed a €10 million loan from Raiffeisen Bank to finance its dynamic sales expansion, Raba reportedly said in a statement on Wednesday.
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According to Reuters, Raiffeisen extends the medium-term loan in cooperation with Hungary’s Eximbank, and the funds will prefinance Raba Futomu’s European export sales, the company said on the Budapest Stock Exchange’s internet page.
“Raba Futomu Kft boosted its sales by 36% to 15 billion forints ($72.57 million) in the first half of 2005,” it reportedly said.
“The key mover of growth is still an expansion of earlier European deals and a further strengthening of the US commercial vehicle industry,” it added, according to Reuters.
