Austrim Nylex claws back debt level
Miranda McLachlan
Embattled manufacturer Austrim Nylex says it is starting to pull back its spiralling debt levels, but warned shareholders not to expect dividends any time soon as its efforts were being hindered by bank fees and interest charges.
Austrim said its debt was now down from $416 million to $361 million but added it needed to get levels to around $250 million to reduce its hefty bank charges.
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