Norwegian electric car company Think secures NOK40m emergency loan, fends off bankruptcy - report
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[January 13, 2009]

Norwegian electric car company Think secures NOK40m emergency loan, fends off bankruptcy - report

(Nordic Business Report Via Acquire Media NewsEdge)
Norwegian electric car company Think has reportedly fended of
bankruptcy by securing an emergency funding package in the form of a
NOK40m loan from investors.

The emergency funding will enable the company to continue work on
finding a long-term solution to its financial situation, reported the
Norwegian news agency NTB.

The largest part of the emergency loan was signed by Think's partner,
the battery producer Ener 1 Group.

Think suspended its production in December 2008 and laid off some 175
of its staff due to its financial difficulties. With the help of the
emergency financing, the company plans to gradually resume production
in February.




Think Global, headquartered in Aurskog, Norway, develops and
manufactures electric cars under the THINK brand.


One British pound (GBP) is worth approximately 10.58 Norwegian kroner
(NOK).

((Comments on this story may be sent to
nbr.feedback@nordicbusinessreport.com))

Copyright ? 2009 M2 Communications Ltd.

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