The European Investment Bank (EIB) has approved 10 million EUR long-term quasi equity financing facility in support of AS HansaMatrix group’s planned investments, which total 20 million EUR in the years 2018-2020. The Company is currently in negotiations with the European Investment Bank and a final agreement is subject to approvals being obtained by both parties as well as successful legal due diligence and financial negotiations.

The investments are expected to support the Company in its ongoing growth strategy, based on the expansion of its manufacturing capacities, as well as activities in research, development and innovation to optimize and complement the current range of service offerings. All investments will be located in Latvia, at the Company's existing sites near Riga, Pārogre and Ventspils.

The EIB funding would mainly be dedicated to the co-financing of product R&D activities as well as the development of IT systems, robotics application capabilities in manufacturing, and an increase of the manufacturing capacity in the company’s Pārogre and Ventspils manufacturing facilities, all contributing to growing the business.

The investment program includes investment in R&D and manufacturing equipment for further development and commercialization of volumetric 3D image technology owned by AS HansaMatrix’ associated company SIA Lightspace technologies.

The investment project is expected to contribute to the further development of Latvian industrial sector and the creation of skilled jobs. To realise the project the EIB financing is to be complemented with AS HansaMatrix own capital, commercial bank lending and EU fund grants.

Investor and media contact:

Māris Macijevskis, CFA
Management Board Member, Finance director
Phone: (+371) 6780 0002
E-mail: invest@hansamatrix.com

http://www.hansamatrix.com

About JSC “HansaMatrix”

HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial segments and other services to high added value business segments. In addition to complete manufacturing services of OEM products, the company offers an ODM business model to both start-up and established companies that seek product development partnerships.