Valtech, the French global group of Advanced Technology Solution Centres, has transformed its main line of credit in France into a factoring agreement resulting in the level of financial debt reducing by Ђ1.1 million over the past 3 months. This will give us a much higher borrowing potential, but the transition has been longer than expected allowing customers to delay payments. Valtech is therefore yet to maximise the cash flow benefits of this factoring agreement.
