CT Automotive Group Plc (GB:CTA) has released an update.
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CT Automotive Group PLC has secured a new $20 million asset-backed working capital facility from FGI Worldwide LLC, extending to October 2027, to support the company’s expansion efforts, particularly in Mexico. The new funding aligns with CT Automotive’s growth strategy, as it prepares for the ramp-up of new manufacturing programs and expects increased revenue over the next two years. The facility maintains a similar borrowing rate to the previous one, ensuring operational flexibility and backing for global operations.
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