Nov 25, 2010. EACOM Timber Corporation has entered into a three-year, $50 million revolving credit facility agreement with GE Capital in Canada. The facility will be used to fund working capital and general corporate purposes.
EACOM Timber secures $50 million credit facility from GE Capital
Nov 25, 2010. /Lesprom Network/. EACOM Timber Corporation has entered into a three-year, $50 million revolving credit facility agreement with GE Capital in Canada. The facility will be used to fund working capital and general corporate purposes, as the company said in a press release received by Lesprom Network.
Mr Rick Doman, President and CEO of EACOM Timber Corporation, said "We are very pleased to enter into this agreement with GE Capital. GE Capital's experience in structuring transactions in the forestry sector was instrumental in identifying a flexible financial structure that would not only answer our immediate needs, but would also support future growth opportunities as we pursue our vision of becoming a global softwood lumber Company."
EACOM owns seven sawmills and an equity interest in an eighth sawmill, all located in Eastern Canada and related tenures.
