Baldwin Amends Credit Agreement
15 October 2011 - 3:13AM
Business Wire
Baldwin Technology Company, Inc. (NYSE Amex: BLD), a global
leader in process automation technology for the printing industry,
today announced that it has negotiated an amendment to its credit
agreement with Bank of America. The amendment extends the maturity
date of the revolving credit facility from November 21, 2011 to
July 2, 2012.
Vice President and CFO Ivan Habibe said, “We are pleased to have
reached this agreement with our lenders to extend the maturity date
of the current credit agreement through the beginning of our next
fiscal year. The extension provides us with additional time to
complete our project of a full refinancing of the current credit
facility.”
Baldwin President and CEO Mark Becker added, “We were able to
demonstrate to our lenders that we’ve made significant progress
towards successfully refinancing the existing credit facility. We
expect to refinance the existing loan prior to its maturity date
and appreciate the lenders working with us to provide the company
additional time to achieve the optimal financing structure for
Baldwin.”
The company disclosed the terms of the amendment in its Form
10-K filed with the Securities and Exchange Commission on October
13th and will file the complete amendment on Form 8-K with the SEC
early next week.
About Baldwin
Baldwin Technology Company, Inc. is a leading international
supplier of process automation equipment and related consumables
for the print media industry. Baldwin offers its customers a broad
range of market-leading technologies, products and systems that
enhance the quality of printed products and improve the economic
and environmental efficiency of the printing process. Headquartered
in Boca Raton, Florida, the company has operations strategically
located in the major print media markets and distributes its
products via a global sales and service infrastructure. Baldwin’s
technology and products include cleaning systems, fluid management
and ink control systems, web press protection systems and drying
and curing systems and related consumables. For more information,
visit http://www.baldwintech.com. A profile for investors is
available at www.hawkassociates.com/profile/bld.cfm.
Cautionary Statement
Certain statements contained in this News Release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include risks and uncertainties detailed in the company's
periodic filings with the SEC. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date the statement was made. The company undertakes
no obligation to update any forward-looking statements contained
herein.
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