BHI‘s commercial and industrial group closed a $6 million credit facility for Pisec Group America. The financing provides a one-year line of credit that the company will employ for working capital and corporate purposes.
Pisec Group America, a subsidiary of Pisec Group Holding GmbH in Austria, sells specialized steel products for the automotive, rubber, wire and oil industries throughout the world. The company’s customer base consists mainly of U.S. specialty steel distributors which service the oil and gas industry and industrial construction, as well as the automotive sector.
“We continue to expand and diversify our sales base in the U.S. according to the company’s targeted plan. BHI takes the approach of a partner that appreciates and supports our objectives as we move forward,” Patrick Teischl, Group CEO, said.
According to BHI, the bank values its partnership with Pisec Group as the company pursues further growth in the U.S. BHI works in close collaboration with clients, comes to know their business challenges and provides tailored financial solutions that meet them, the bank said.
