Swiss Autoneum realigns financing sustainably

Due to the COVID 19 crisis and its significant impact on the automotive industry and Autoneum’s course of business, the Company and a bank consortium have amended the existing long-term credit agreement in the amount of CHF 350 million, amongst others with regard to the financial covenants. At the same time, the two major shareholders Michael Pieper and Peter Spuhler have agreed to extend the term of the subordinated loans of CHF 20 million each, granted in December 2019, subject to the financial performance of Autoneum Group and aligned with the credit agree- ment with the bank syndicate. As a result, Autoneum’s liquidity and long-term financing continue to be secured on a sustainable basis.

Autoneum is globally leading in acoustic and thermal management for vehicles. The Company develops and produces multifunctional, lightweight components and systems for interior floor and engine bay as well as the underbody. Customers include almost all automobile manufacturers in Europe, North & South America, Asia and Africa. Autoneum operates 55 production facilities and employs around 13 000 people in 25 countries.

The Company with its headquarters in Winterthur, Switzerland, is listed on the SIX Swiss Exchange (ticker symbol AUTN).