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Spain — Eulen obtains 150 million Euro loan to re-finance debt

01 July 2010

Privately owned multi-services company, Eulen Group has announced that it has obtained a syndicated loan from several different banks of 150 million Euro to re-finance its debts and reinforce the stability of its liabilities during the coming three to five years.

As well as temporary staffing (Eulen Flexiplan), Eulen provides cleaning, security, socio-sanitary, ancillary (logistics, general, tele-marketing), maintenance and environmental services.

In 2009 Eulen generated revenues of 1.3 billion Euro, a similar level to 2008. Profits, however, were up by +23% to 27 million Euro.

Earlier this year, Eulen's 82 year old President and Founder, David Alvarez, spectacularly kicked five of his seven children off the board due to 'differences of opinion'.

As well as Spain, Eulen operates in Portugal, Mexico, Costa Rica, Argentina, Chile, Nicaragua, Panama, the Dominican Republic, Uruguay, Peru and the US.



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