GE Capital Provides C$50 Million Credit Facility to EACOM Timber Corporation
MONTREAL, Nov. 25 /CNW Telbec/ - GE Capital in Canada today announced that it has provided a three-year C$50 million credit facility to EACOM Timber Corporation (TSX VENTURE: ETR; "EACOM"). EACOM will use the credit facility for working capital and general corporate purposes.
EACOM is a global timber company formed in 2008 and headquartered in Montreal. An important step in this major Eastern Canadian timber producer's global development was the acquisition of Domtar Forest Products Division, on June 30, 2010.
"We are very pleased to enter into this agreement with GE Capital," stated Rick Doman, President and Chief Executive Officer of EACOM Timber Corporation. "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."
"It is very satisfying to see our customers take full advantage of GE's deep domain expertise," said Ellis Gaston, General Manager, GE Capital Corporate Finance Canada. "We look forward to supporting EACOM's continued growth."
About GE Capital
With more than 20 offices throughout Canada, GE Capital (gecapital.ca) is a leading provider of financial and fleet management solutions to businesses operating in a broad range of economic sectors, including construction, transportation, energy, manufacturing and retail. The business' customized solutions include leases, asset based working capital and term financing, cash flow financing, corporate aircraft, franchise, business properties and fleet financing as well as financial solutions and services to equipment manufacturers, operators, distributors, dealers and their end users. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at ge.com.
For further information:
Marina Brzeski, Communications Leader, Canada
GE Capital, (514) 713-5321, [email protected]
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