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Key Equipment Finance Provides $10MM in Equipment Financing to Traxys

June 10, 2020, 07:25 AM
Filed Under: Industry News

Key Equipment Finance, a division of KeyBank and one of the largest bank-based equipment finance providers in the U.S., announced it has provided $10 million in equipment financing to Traxys Processing Inc. for its new processing facility in Burnsville, MS.

Traxys Processing (a subsidiary of the Traxys Group) used the financing to acquire grinding mills, roll presses and packaging systems for the production of alloy agents for the molten metal treatment of aluminum and steel.

“Equipment is a vital component of the new Traxys Processing facility, and equipment financing enabled the company to quickly scale up production,” said Jay Archambeault, Senior Vice President and Director, Key Equipment Finance. “Interim financing and a term loan facility enabled the company to deploy the latest in automated and specialized alloy hardener manufacturing equipment.”

The new facility is located at the Yellow Creek Port with proximity to rail and barge transportation lines providing access to global markets.

“Traxys has a strong relationship with Key, which offered both broad financing capabilities and knowledge of the metals industry,” said Todd Hermanson, Traxys Group Chief Financial Officer. “This enabled us to efficiently finance all of the production equipment needed for this new facility.” 

Ryan Campbell, Traxys Senior Vice President, added, “Key Equipment Finance has been a great partner to work with, and we hope to expand our relationship with their team in the future.”

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