Sprintex Limited (AU:SIX) has released an update.
Sprintex Limited has secured a total of A$3.6 million in loans to expand production of its G-series industrial blowers, anticipating increased customer demand. The funding, which includes a significant loan from substantial shareholder China Automotive Holdings Limited and other lenders, reflects a strong confidence in Sprintex’s growth prospects. The company plans to utilize the increased production capabilities and economies of scale to enhance profit margins and aims to repay the loans with future profits.
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