Treatt prepares for US expansion

Treatt prepares for US expansion

Full-year results for ingredients company Treatt (TET) were accompanied by news of a proposed 5.3m share placing priced at 410p apiece, for which chief executive Daemmon Reeve said there was “strong demand”. The £21.6m management are hoping to raise will be used to fund expansion plans in the US, along with the relocation and upgrade of its UK manufacturing site. To supplement the fundraising, Treatt has taken out an $11m (£8.31) loan for construction plans in the US and a £15m line of credit in the UK. Together, this additional financing should help improve capacity and efficiency both at home and state-side.

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