Resurgent engineer Hayward Tyler (LON:HAYT) is to cut the apron strings connecting it to long-time backer MBE Technologies.
The company has received a credit approved offer from The Royal Bank of Scotland (RBS) for new banking facilities on improved terms. The new arrangement will deliver increased UK banking and borrowing facilities of £14.2mln, versus current facilities of £12.9mln. The company has also received a credit approved offer of an additional US facility of USD2 million from the US subsidiary of RBS.