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SEB Bank to allocate 5.5 million euros in funding to HansaMatrix

Publicity photo.
To contribute to future development of HansaMatrix, SEB Bank has decided to allocate long-term funding of EUR 4.9 million, as well as a EUR 0.6 million credit line to refinance the company’s financial commitments before other Latvian financial institutions, the bank reports.

Looking at the company’s development plans, SEB Bank has confirmed and reserved an additional amount of EUR 1.5 million for industrial leasing and EUR 1 million for construction of Parogre production plant. This funding will be allocated over the course of 2018.

HansaMatrix chairman Ilmārs Osmanis: «Currently HansaMatrix continues developing alongside Latvia’s electronics and optical equipment production. SEB Bank’s decision to support the company will provide funding for our future development and new technologies.»

The bank notes that HansaMatrix worked with turnover of EUR 14.56 million in 2017. The company has been quoted in the main shares list of Nasdaq Baltic since July 2016. This helps the business diversify its funding sources.

HansaMatrix largest clients are original equipment manufacturers in Baltic States, Scandinavia and other EU member states working in data network, industrial electronics, internet of things and other product segments.


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