STL Technology Co (新盛力科技), a local lithium-ion battery pack manufacturer, has secured a five-year, US$50 million syndicated loan from three domestic banks, the leading lender, Taishin International Bank (台新銀行), said in a press statement.
The company, established in 2004, supplies lithium-ion battery packs to top global notebook suppliers such as Hewlett Packard Co and Asustek Computer Inc (華碩電腦).
STL Technology plans to use the loan to repay debts, increase operating capital and improve its financial structure, the statement said.
The company signed the syndicated credit facility on Monday with a consortium composed of Taishin International Bank, Taipei Fubon Bank (台北富邦銀行) and Hua Nan Commercial Bank (華南銀行).
“STL Technology has acquired many patents on battery management systems and battery pack controls and is a leader in core technologies,” Taishin said, adding that it expected orders for battery packs for electronic cars and medical electronics to continue growing in the future.
Separately, Taishin yesterday reported that its pre-tax profit last month reached NT$948 million (US$29.8 million), or earnings per share of NT$1.42. That compared with NT$1.8 billion or NT$1.22 in EPS recorded in June.
Its non-performing loan ratio was 0.41 percent last month, while its coverage ratio was 276.09 percent, the bank said.
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