International Absorbents Secures New Credit Facility
BELLINGHAM, Wash., Feb. 3 /PRNewswire/ -- International Absorbents Inc. (OTC Bulletin Board: IABS - news), a leading manufacturer
and marketer of sorbent products made from waste wood fiber, today announced that Absorption Corp., its operating subsidiary, has completed the negotiation and implementation of a new credit facility. The resulting benefits of this new credit facility are the availability of considerably greater funds and significantly reduced finance costs.
''We are very pleased to have this new credit facility in place,'' commented Gordon Ellis, Chairman of International Absorbents. ''It is notable not only because of the additional level of credit it brings, but also because the lower costs of finance we were able to negotiate are a testament to the improvements which have been made in our financial position within the past year.''
International Absorbents Inc. develops, manufactures and markets patented and proprietary, cost-effective sorbent products derived from recycled, renewable materials. These environmentally safe products outperform conventional products used in a broad range of industrial and consumer applications, including oil and hazardous liquid spill cleanup and control, oil/water filtration, packaging and commercial/retail animal bedding and litter. Further information about International Absorbents is available at www.absorbent.com.
NOTE: This press release may contain forward-looking statements with respect to the operations and business of the Company that involve risks and uncertainties. These risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: International Absorbents, Inc.
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