Chih Lien Industrial, one of the major manufacturers in steel bars and wires in Taiwan said that the company has completed its three-year syndication loan by NT$710 million from several Taiwanese banks.
The company said that it will repay all of its old loans by using this new syndication loan. Also, this new loan will help Chin Lien to improve its working capital.
Actually, in order to increase its production yields and 10% of its output, Chin Lien has spent more money to do for its equipment upgrading in recent two years.
It is said that Chin Lien's capital expenditures were NT$100 million in 2011 and NT$200 million in this year.
The market analyst said since the prices for steel wire & bar have rebounded from the bottom, Chin Lien might have better sales in the first half of next year.