NEWs
Wednesday November 1, 3:04 pm Eastern Time
Press Release
SOURCE: Commodore Applied Technologies, Inc.
Commodore Applied Technologies Enters Into Financing Relationship With KBK Capital
Company Obtains $2.5 Million Receivables Line of Credit
NEW YORK, Nov. 1 /PRNewswire/ -- Commodore Applied Technologies, Inc. (Amex: CXI - news, CXI.WS - news) today announced that it has secured government receivables financing replacing an existing line of credit. The $2.5 million receivables line of credit is being provided by KBK Capital Corporation (Amex: KBK; PCX), a financial services company based in Fort Worth, TX. The KBK facility, a two-year renewable agreement, offers Commodore receivables financing at competitive interest rates and flexible terms. KBK provides commercial loans and other financial services to middle-market businesses.
Paul E. Hannesson, Commodore chairman and CEO, stated, ``We are so pleased to have established this new relationship with KBK Capital Corporation. Commodore looks forward to a long and prosperous business association.''
Commodore Applied Technologies, Inc. -- headquartered in New York, N.Y. and traded publicly on the American Stock Exchange -- is a diverse technical and financial solutions company focused on high-end environmental markets. The Commodore family of companies includes subsidiaries Commodore Solution Technologies, Commodore Advanced Sciences and Dispute Resolution Management, and a joint venture, Teledyne-Commodore, LLC. The Commodore companies provide negotiated financial solutions, technical engineering services and patented remediation technologies designed to treat hazardous waste from nuclear and chemical sources. More information is available on the Commodore web site at commodore.com.
These materials contain forward-looking statements based on a series of projections and estimates regarding economics within the company's markets, the industries in which the company operates, the effects of legislation and regulations, as well as business and competitive outlook.
SOURCE: Commodore Applied Technologies, Inc. |
