Aerobox Attracts US$3m Financing

15 May 2006

Aerobox have entered into a US$3 million three year secured revolving loan agreement with Laurus Master Fund, a Cayman Islands company that provides financing to small cap growth companies.

The AeroBox air cargo container is the result of a decade of research and development into composite structure panels. The funds will assist in funding working capital needs, and have been made available against assets. Ray Gibbs, Group Managing Director commented:

“I am delighted that we have been able to demonstrate the financial viability of our business to Laurus. The growth being experienced initially in the ULD sector requires careful managing and finance. The revolving debt facility can be used to enable us to satisfy the working capital needs for both our existing and expected order book in both the ULD and core and panel operations for the foreseable future.”

The AeroBox has now flown over 90,000 flights in commercial airlines around the globe, with a little more than 100 reported repairs.

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