Leading supplier of returnable plastic crates says it sees strong opportunities to grow in Europe, North America and Asia
Ifco, which supplies the fresh produce business with reusable packaging including returnable plastic crates for retail, says it anticipates robust growth and increased market demand for its products in Europe and North America, as well as “organic expansion” across Asia.
The Munich-based group said it had worked to contain operating costs, and revealed that it had reduced its loan interest payments by 0.25 per cent following the repricing of a €1.64bn facility earlier this year.
In a statement, it suggested the “strategic move” would enable it to invest in future growth and expand its market presence.
With the larger loan due for repayment in 2029, and a revolving credit facility increased to €310mn, the margin itself has been reduced from 4 per cent to 3.75 per cent, which the company said reflected its strong performance and “deleveraging capabilities”.
“This reduction also demonstrates strong confidence from lenders in Ifco’s business model and future growth trajectory,” it added.
