Automodular Finalizes New Financing
Toronto: October 12, 2007
Automodular Corporation (“Automodular”) announces that it has completed new bank
financing comprising a 3-year non-revolving $7 million term loan to help fund previously
announced contract awards and a $10 million revolving term facility for general
corporate purposes.
Automodular is a supplier of sub-assembly, sequencing, transportation and logistics
services to six OEM plants in Ontario, Michigan and Ohio. The Company has five
operating facilities and employs over 900 people.
For further information, contact:
Christopher Nutt
Vice President, Finance
Automodular Corporation
(416)861-0662 x 223
c.nutt@automodular.com
This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
|
