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News

GE commercial finance arranges $14.9 million credit for American aluminum extrusion

AZDEL : 01 March, 2006  (Company News)
GE Commercial Finance Business Credit announced that it has arranged a $14.9 million credit facility for American Aluminum Extrusion LLC and American Aluminum Extrusions of Ohio LLC.
GE Commercial Finance Business Credit announced that it has arranged a $14.9 million credit facility for American Aluminum Extrusion LLC and American Aluminum Extrusions of Ohio LLC.

American Aluminum Extrusion LLC, based in Beloit, Wisc., and American Aluminum Extrusions of Ohio LLC, based in Canton, produce standard and custom aluminum extrusions for the transportation, machinery and equipment, building and construction and other industries.

The credit facility, which closed on December 24, is comprised of a $11.8 million revolving loan and a $3.1 million term loan. The company will use the facility to refinance existing debt and for working capital.

'We wanted to work with a lender that can provide us with enhanced financing flexibility and with whom we can grow as our companies seek new opportunities to expand our operations and market reach,' said Darius A. Szczekocki, president. 'GE Commercial Finance Corporate Lending offered us these key attributes as well as a depth of financing experience and expertise that demonstrates long-term market commitment and a true relationship orientation.'

'We know the metals industry well, and are very comfortable with its fundamentals and prospects,' said Craig W. Kempton, vice president, GE Commercial Finance Business Credit. 'We're very pleased to have the opportunity to support the growth strategies of these two companies, and look forward to a continued relationship.'
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