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Premo signed Agreement with its Spanish banks Group

Premo sign an agreement with Banco Santander

Such agreement is going to granted the financial support to the strong growing organic plan. The agreement includes a relevant increase of financing facilities, a simpler banks structure with a reduction of 30% of banks as well as a 40% cost saving.

The agreement involves the main Spanish institutions as Bankinter, Banco de Santander, Caixabank, BBVA, Banco Popular and Bankia. They are supporting Premo Group evolution, with a organic sales growth over 20% for the third consecutive year. At the same time Premo has generated cash to finance its working capital by keeping the level of Net Finance Debt.  

Premo Group is going to open up the new manufacturing plant in Vietnam to ensure the growth in July. Also Premo is developing several R&D projects, some of them supported by public institutions as CDTI, the Spanish Ministry of Economy or the IDEA agency of Andalucía regional government. Those R&D projects of new and disruptive technologies will permit Premo continues as strategic partner of the main worldwide suppliers of the automotive industry, as well as collaborate directly with leader companies of other sectors in their markets. 

The company is analyzing some additional financial deals to support the further projects to growth, in order to keep the technological leadership.

 

About Us

PREMO is a Spain-based company engaged in the development, manufacture, and sale of electronic components with special focus on the growing market of H&EV, and market segments including automotive, telecommunications, and industrial electronics.

Our product portfolio includes RFID antennas (worldwide leader), power transformers, inductors & chokes, current sensors, EMC filters, and PLC components. In addition to our broad range of standard components, off-the-shelf products, PREMO also designs custom solutions to fit customer requirements, based on the latest technologies to help your systems be more efficient.

800 employees at over 7 design and production locations and an extensive sales network let PREMO have a global presence to meet country specific needs.

54 years being a preferred supplier because of our strong commitment to business excellence, engineering support, reliable delivery and the quality of our products.

 

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