November 18, 2019 / 7:13 AM / 21 days ago

BRIEF-Tecnoquark Presents New Investment Plan

Nov 18 (Reuters) - Tecnoquark Trust SA:

* TO PROPOSE NAME CHANGE TO TECHNOMECA AEROSPACE SA

* TO FOCUS ON TURNKEY PROJECTS, R&D FOR DEFENCE SECTOR, DESIGN AND PRODUCTION FOR OIL AND GAS SECTOR

* CRESCENT HILL CAPITAL CORPORATION, WHICH CONTROLS TECNOQUARK, TO PROPOSE A CAPITAL INCREASE OF AT LEAST 3 MILLION EUROS TO PROVIDE WORKING CAPITAL TO IMPLEMENT THE CHANGES IN TECNOQUARK

* SEES FY 2019 TURNOVER AT 2.7 MILLION EUROS, EBITDA IN NEGATIVE TERRITORY OF 75,000 EUROS

* SEES FY 2020 TURNOVER 3.5 MILLION EUROS, EBITDA OF 0.8 MILLION EUROS

* SEES FY 2021 TURNOVER AT 5.0 MILLION EUROS, EBITDA AT 1.2 MILLION EUROS

Source text: bit.ly/33VGp9T

Further company coverage: (Gdansk Newsroom)

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