Wizzer, looks like they'll have some cash in their pocket to do business!!
>>MOND NEGOTIATES CREDIT FACILITY TO FUND GROWING ORDER BOOK
TORONTO, ONTARIO--
Mond Industries Inc. announced today it has signed an agreement
with Newcourt Financial for a $7.5-million term loan to
facilitate production flows in a robust market for Mond trailers.
"This has been a very busy year in terms of orders," said Pat
DiLillo, Chief Executive Officer and President. "We're very
pleased to have Newcourt as our financial partners to help us
accommodate the new business." Market strength was reflected in
financial results for the first nine months of the current fiscal
year, which at $88.1 million was approximately 45% ahead of the
corresponding period the year previous.
The term loan was negotiated with Newcourt Financial, a unit of
Newcourt Credit Group Inc. The loan is repayable over 15 years.
Mond is Canada's largest manufacturer of domestic intermodal
containers for the truck/rail transportation sector and designs,
manufactures, services and repairs an extensive line of standard
and customized trailers, trailer chassis, dry freight vans,
refrigerated and heated vans, and truck bodies. Mond sells its
products in Canada using its own sales force and through a
nationwide dealer network.
The Company's shares trade on The Toronto Stock Exchange under
the symbol MII.
FOR FURTHER INFORMATION PLEASE CONTACT:
Olav Svela or Jon W. Kieran, Investor Relations (416) 868-1079
Hume, Kieran Inc.
Dennis Arsenault, Chief Financial Officer (905) 565-9500
Mond Industries Inc. <<
JOE |
