Financially challenged silicon metal supplier, Timminco has tapped Bank of America for the remaining US$2.9 million of a revolving credit facility, resulting in the company having to pursue alternative sources of financing. The Canada-based materials producer recently reported third quarter sales of US$28.6 million and a net loss of US$2.4 million.
Timminco noted that it was in discussions with its existing secured lenders and potential new lenders to provide additional liquidity.
This article requires Premium SubscriptionBasic (FREE) Subscription
Already a subscriber? Sign In
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts